The economic and human toll COVID-19 has caused is devastating. As a society, we have resolve and will rebound from this devastating situation. As we look into the future, how will this impact how we live? Will our spending habits change? Will our social engagement improve? Will we cook more at home or dine out more? Some of my initial thoughts . . .
- We will see a baby boom in 9-10 months. After all, you can only play Monopoly so many times, you can only post so many times on Instagram and Facebook and you can only clean your cabinets so many times, so what is left to do. . . .
- People will be spend less on non-essentials and thrift store shopping will increase. So many of my friends and colleagues have mentioned that they are using this time to clean and purge. Many have also commented on finding clothes and other items with their price tags sill on them. Two things will come out this - we will spend less, thinking about all the unused, new items we have and people will find value in going to the thrift store finding these "new" items with the price tag still on them.
- People will be uber vigilant on health and sanitation. The days of getting a "B" or less on your health department inspection and staying in business will be gone. And the restaurants that understand that contactless is not a fad, but the future will succeed. It could be as simple as a contactless bathroom - from entering to leaving, you touch nothing.
- Restaurants will have to adapt their model as people will continue to cook at home and dine out less. Is the Grocerant the wave of the future?
How do you see this shaping our future?
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