stdavidshead
Well-Known Member
- Joined
- Mar 8, 2021
- Messages
- 59
- Reaction score
- 79
In many of the responses I see a lot of fixation on the late 2021/2022 recovery period. While it's encouraging to hear that tailors are seeing a bump in business, it would be extremely concerning if they weren't. Globally, consumers have built up more than $5T of savings, and the reopening last year in China suggests there will be a propensity for "revenge spending". Examples about deferred weddings make a ton of sense in this context.
I think there's broad agreement that the more conservative industries (like banks) have been on a slide towards casual dress codes for a while. I think COVID accelerates this, at least from what I can tell in from friends in banking.
For what we're calling the enthusiast camp, it's difficult to extrapolate beyond the near term "buy everything" phase. Right now my prediction would be no change vs prior baseline. I'm skeptical that consumer behavior is going to change radically post the recovery period. Consumers are pretty sick of cooking and cleaning at home - does anyone think that dining out will be a higher share of wallet five years from now? Too soon to say, but probably not.
I think there's broad agreement that the more conservative industries (like banks) have been on a slide towards casual dress codes for a while. I think COVID accelerates this, at least from what I can tell in from friends in banking.
For what we're calling the enthusiast camp, it's difficult to extrapolate beyond the near term "buy everything" phase. Right now my prediction would be no change vs prior baseline. I'm skeptical that consumer behavior is going to change radically post the recovery period. Consumers are pretty sick of cooking and cleaning at home - does anyone think that dining out will be a higher share of wallet five years from now? Too soon to say, but probably not.