Coffee, ketchup and Nike Air Max: it's the COVID consumer economy

  • 📰 Reuters
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 97%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

Welcome to America’s pandemic consumer economy where instant coffee, Lululemon yoga pants and Nike Air Max sneakers are in and Burberry luxury trench coats are out

Such inflation might make commercial sense, given the bump in demand for home staples. But some consumer experts complain retailers and big brands are cutting back on promotions and using their power to shore up profits during a health crisis that has led to millions losing their livelihoods.

Other industry experts point out that companies have had to grapple with costly production shifts to adapt to the new landscape. They note that before the pandemic, when costs were lower and there were more promotions and discounts, prices of Heinz sauces were declining. “You’re at home anyway so you’re not sending your child off somewhere in a diaper that fails,” said Rao.A $2,245 COAT, ANYONE?

“It’s pretty clear people behave as if they have different pots of money,” he said. “Now I don’t eat out at all, so I have a couple of hundred dollars of new income not allocated to anything. I can substitute that money away from eating out and treat myself to other things.” The University of Michigan’s Rao said food producers had been reluctant to invest in permanent changes to retool factories. “They’re hindered by the fact there’s so much uncertainty as to how long this will last.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nike...is OUT. Made by SLAVE LABOR,......in CHINA. BoycottChineseSlaveLabor BoycottNike BoycottTheNBA

that's becuz the trump tramps wear burberry.

Flying off the shelves in riot ridden cities near you

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines