Pre-pandemic research found heightened risk from working under certain conditions such as in isolation away from friends and family; extended or shift-pattern working hours, in dangerous environments, under inadequate supervision or at risk from organisational change (restructure/redundancy)- a list that makes clear what may be driving this Covid related increase in consumption.
Our work, leisure and shopping habits as well as interpersonal relationships have all been subject to seismic shifts in a matter of months. Indeed, what consumers value has changed, so as we enter the inevitably severe economic downturn, retail businesses will have to navigate this transformed
Much as other industries including retail, aviation and automotive are making their case to the government for support following the pandemic, Universities UK has similarly petitioned government for a Coronavirus rescue package…
Despite the unprecedented and, as yet, incalculable, cost of government measures, the OBR have stated that ‘we can be confident that the cost of inaction would ultimately have been much higher.’.
There is a risk that following the shock of the pandemic and poor economic recovery, deep seated pessimism may set in for the young, who already feel that their lives will be less prosperous than their parents’.
The combined hit to both demand and supply sides means that the COVID 19 recession will be a departure from the those seen in the 1930s and 2008: inflation is indeed likely. The risk is that the recovery may cause