Long -term consumption habits have been disrupted, accelerated or reversed during the pandemic. But not all behaviors are going to stay forever once society is able to gradually return to normal. A new report from the McKinsey Global Institute titled ‘ The Recovery of Consumer Demand and the. Lasting Effects of COVID-19’ points to three trends that are here during the health crisis to stay. The permanence test was carried out in six consumption areas that represent three-quarters of total consumer spending. Online food, leisure and entertainment, home life, leisure travel, remote education and telemedicine services.
Applying the test, the report concludes that online grocery shopping , virtual medical appointments, and home entertainment are likely to remain. On the other hand, distance learning, leisure travel and catering will return to pre-pandemic brazil phone number patterns. However, they will do so with some modifications, such as the use of digital tools in education or incorporation. Digital services such as virtual menus in the hotel industry. The recovery of spending, essential for the economy “With consumption accounting for roughly two-thirds of the global economy, a recovery in consumer spending will be critical to our economic prospects coming out of the pandemic,” said Jaana Remes , a fellow at the McKinsey Global Institute and co-author of the study.
The Report Is Optimistic About Recovery
As the pandemic has not triggered a massive glut of consumer debt, nor the bursting of housing bubbles. The drop in spending in the first months was mainly due to cuts in in-person consumption services, such as travel, leisure and restaurants. “As the virus curve progresses and the situation of mobility restrictions normalizes, consumer confidence will begin to rise and some categories will recover in consumption,” notes Ignacio Marcos , senior partner at McKinsey & Company in Spain. Demand from high-income households will be key to the strength and speed of the recovery. As a counterpoint, low-income youth households are likely to face purchasing power constraints.
Although short-time programs in Europe have helped protect jobs, consumers have not experienced as big an increase in savings as in the United States , and the drop has been more severe. Consequently, spending is not likely to accelerate as rapidly as across the pond. Amazon will also like to know how you are going to generate that traffic on your website. Normally, you will select the SEO option. And ready! Your application will be approved to start the affiliate marketing program. Although the truth is that the commissions in Amazon Spain are low, and will even go down the more popular the product is.
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