By Craig Erwin, Ph.D.
Just when we seemed to be winning the battle against Covid-19, Omicron slammed us. But Omicron didn’t keep us from shopping. Nor did high gas prices or a battered stock market. Although there is usually a January sales slump after a booming holiday shopping season, this year retail sales rose 3.8% from December to January, which was higher than expected.
Will retail sales stay strong? Probably. Think of all the things we have avoided during the pandemic and can’t wait to do again, like camping and flying, and going to beaches, museums, and plays. We can’t wait to travel and have fun again. Finally the demand for skydiving, cruises, spa treatments, resorts stays, camping sites, and concert tickets will exceed the demand for bleach, hand sanitizer, face masks, and Zoom.
How will you decide it’s time to come out of your shell? What is the first thing you want to do when the pandemic ends? Have you been able to save money during the pandemic that you can spend when the coast is clear?
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