The urge to splurge: Don't underestimate strength and speed of post-lockdown market revival

Consumers' spending spree key to recovery

It is easy to overestimate the social changes wrought by Covid-19. Yes, online purchases and Netflix subscriptions soared, Zoom is now an everyday tool and surveys suggest that we got comfortable with lockdown life and would prefer less time in the office. But how will we feel in a few months time?

We are sociable animals who enjoy variety, novelty and movement. Many of the things we used to do - such as going to a cinema, working with colleagues in an office, browsing in shops, or travelling for the sake of travelling - were things that we did for a reason. It was because we liked doing them. Technology changes, but people do not. When lockdown ends, we will probably hang on to useful habits that we learned during lockdown, but we will also want the things we used to enjoy. Many of which involve service industries. The gorilla in the room Service industries have been particul...