Dramatic reduction in just-in-time inventory practices. Wave of bankruptcies and closings of small, highly-levered, or low-margin businesses with high operating leverage. Less available go-forward credit, especially transaction debt. Shift to proximity-based manufacturing.
Rise in distance learning and non-traditional education alternatives. Accelerated last-mile delivery options. Increased adoption of home fitness products/services, as well as cookbooks and culinary education. Renewed emphasis on home storage.
Increased social isolation, depression, and self-medication. Rise of niche online/mobile communities. Remote work has its open office moment. Insurance premiums skyrocket regardless of crisis connectedness. Anything travel-related or group-driven gets decimated.
Accelerated adoption of concierge medicine for wealthy. Increased political polarization and decreasing government satisfaction. Lower voter turnout. Lack of in-person meetings decrease dealmaking around complex and trust-driven transactions (M&A in particular).
Gun sales in U.S. skyrocket. Tax cuts, new wave of QE, bailouts. Accelerated bank consolidation. Low energy prices slow adoption of electric vehicles. An already weak physical retail sector gets hammered. Local retailers shutter in alarming numbers.
Construction industry slows and costs increase due to physical proximity rules and cleanliness procedures implemented, as well as a loss of older high-skill labor to retirement and illness. Rise of personal health diagnostic tools. Increased mortality rates for other illnesses.
Solidified bifurcation of media between infotainment and news. Rise of old-school "unbiased" news sources (Just the facts, ma'am). Rise of local, individual hobbies. Decline in all transportation demand regardless of mode. Online dating trends are slowed. Co-working declines.
On that note, anyone else ready to club some baby seals and drown some kittens?
Ultimately, things will normalize, the economy will recover, and life will go on, but it will leave an indelible imprint.
Or, perhaps 2 months from now it's a laughable non-event. Who knows.
Ultimately, things will normalize, the economy will recover, and life will go on, but it will leave an indelible imprint.
Or, perhaps 2 months from now it's a laughable non-event. Who knows.
