The increased level of activity will be positive for the oil industry and we could see much stronger pricing as we move from a surplus to a more balanced market. We’ll be commuting more regularly, meeting up with friends and shopping outside the home. Consumers will likely shift spending patterns towards services such as travel, hotels, and live events and away from goods like patio furniture or renovation equipment. So how will our winners and losers stack up in a post-pandemic world? If we’re back to normal next summer, there will be lots of pent-up demand for travel and experiences. How it all stacks up – post pandemic possibilities Demand is down around 10% for oil globally, and many smaller energy firms that trade in the stock market are down well over 50% on a year-to-date basis. If people aren’t leaving home for work or fun, then they’re not consuming as much energy. The Energy sector has been another loser. Spending on services held in well during the last recession, but is still down 7% this time around. Flights, hotels, eat-in-dining and sporting events are a few examples of businesses that have been truly devastated. Household spending on services have fallen off a cliff. Anything to do with being outside the home has been hit hard. Technology enabled this shift and it has been a clear winner. After all, society not only moved to work from home, but we moved to everything from home including shopping, exercise, and entertainment. Although we question the valuation of many of these names, it does make sense that technology has led the market recovery. Of course, the biggest COVID-19 winners have been in technology. By comparison, same store sales were negative for four straight years during and after the last recession. That’s an unbelievable increase for a mature retailer.
This means that if a store did $1M in sales for the summer of 2019, that same store did $1.234M this summer. Home Depot reported 23.4% same store sales growth this summer (quarter ended August 2). It took more than four years for household spending on goods to recover after the last recession. consumers are now spending more on goods than they did pre COVID-19 (the trend is similar in Canada). This uptick in household spending on goods has been so dramatic that U.S. Incomes are up, thanks to government handouts, and with nowhere to go (literally), consumers are spending that money on renovations, RVs, fitness equipment and (apparently) chairs among other things. Usually, we see lower personal income, a weak housing market and higher bankruptcies in a recession. The amount of stimulus injected into the global economy by governments and central banks has turned manufacturers and retailers of many non-essential goods into COVID-19 stock market winners.
Ordinarily, a recession brings opportunities for those who have money to spend, but this time has truly been different. Why would a chair manufacturer see such a huge uptick in demand during the greatest economic downturn of our lifetimes? This is the opposite of what should happen in a recession. What’s notable about this story is that it’s so unexpected. My colleague is still waiting and will be lucky to have their chairs by next spring. Orders are up 350% and production at the factory is down due to COVID-19 protocols. They were told it would be six weeks for delivery as the retailer was sold out and had to order from the factory in a different province.Īfter multiple enquiries to the retailer and manufacturer, my colleague learned there was a surge in demand that the manufacturer has never seen before. At $400 per chair, the price was not cheap. "And the most fascinating thing is now she sits with Lancaster Avenue in front of her, Route 202 to the rear and a Home Depot on the other side, you forget ALL about that when you step inside her big front doors.Back in May when the weather was nicer, a colleague of mine saw an ad from a local retailer for Adirondack chairs and decided to treat themselves. "When you go inside Loch Aerie as I did, for two of the open houses to photograph her, you were almost removed to another time and place," Zambelli said. That worries advocates for its preservation, who fear a buyer could demolish the mansion.Ĭarla Joy Zambelli, who runs the Facebook page 'Historic Loch Aerie/Lockwood Mansion Should Be Saved' told it is a "magical place." The site also notes that while Loch Aerie is historic, it is not a preserved property, "allowing for numerous configurations to fit your business plan."
"Grow your business in this classic and majestic 6,522+/- sq ft stone mansion," reads one bullet point on the auctioneer's website. It currently sits across from a Sheraton hotel and adjacent to a Home Depot, with a parking lot extending behind the mansion.
0 kommentar(er)
