Coronavirus impact & recovery
Updated: Apr 14, 2020
Coronavirus and its impact on our society has been everybody's number 1 concern for the last 2 months. As we finally start to see some light at the end of the tunnel, at least for the countries first affected by the virus (China, and to a lesser extent parts of Europe), the concerns are now moving towards:
What will the RECOVERY CURVE look like ?
Will the POST-LOCKDOWN CONSUMER be different ?
On this topic, Deloitte Consulting has released in Spain a very interesting analysis, which will be relevant for most countries facing any form of lockdown.
A gradual recovery
The study shows that restrictions imposed over the last 2 months will ease gradually, leading to a progressive recovery over the course of the year, supposing there is no STOP & GO policies alternating periods of lockdowns and release.
A new baseline
However, the new baseline post-recovery may be different depending on the sector of activity, as it will be affected by both new habits developped during the lockdown period (i.e. remote working, cooking at home, etc.) and the purchasing power of the consumer impacted by the crisis (loss of job, salary decrease...).
Key changes to expect
Anticipating how the consumer will act post coronavirus is more difficult. The study lists the key changes we should expect, most of them linked to an acceleration in the digitalization of our purchasing habits. One thing is sure, the world will be different !