COVID-19 is an unusual virus. For some, symptoms are mild or even non-existent and for others, it is deadly. The pandemic has hit retailers in a similar way. This year has brought massive retail bankruptcy announcements and closers along with success stories. While daily needs retailers, like grocery stores and pharmacies are the most obvious beneficiaries of the pandemic, but other retailers have managed to find solutions too.

"There are a variety of reasons some businesses succeed, and others toil in the current environment," Alex Zikakis, president and founder of Capstone Advisors, tells GlobeSt.com. "Some Capstone Advisors tenants, by the nature of their business, have a very hard time performing their core business while adhering to the necessary guidelines brought on due to COVID-19. Examples of businesses struggling to adapt include gyms and personal fitness studios, nail salons and large format indoor restaurants. Others have attempted to pivot their business model with varying degrees of success such as cycle studios that offer online and outdoor classes or restaurants that can provide to-go or drive-thru services."

Each retailer has also experienced the pandemic differently, with business declining for a wide variety of reasons related to the pandemic. This has created a unique set of challenges. "There are tenants that have been impacted by changing work patterns, such as dry cleaners, that have had a dramatic drop in business due to the increased number of people no longer working in offices or attending social events," says Zikakis. "Tenant business models faring better, such as grocery stores and liquor stores, have done so because they meet a need right now—such as people are cooking and eating at home more often."