8 Min Read |
History tells us that restriction is followed by release. Economists at UCLA predict that the economic stress and recession caused by Covid-19 regulations will be no different — and expectations are growing that we’ll soon be replaying the roaring 20s as populations emerge misty-eyed from their homes, and use their spending power to celebrate freedom.
The UCLA Anderson forecast suggests that after a few months of hardship post-pandemic in the US, there will be a sudden uptick in economic growth. And these expectations have been echoed by forecasters around the globe, with experts at The Economist confident that people will spend more and take more risks. In areas where lockdowns have recently lifted, there’s already evidence of this; in the UK just last week for example, the number of shoppers across all retail destinations rose by 88%, and The Daily Mail reported round-the-block queues at luxury fashion stores.
This is good news for the beauty industry — but it doesn’t mean…
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Updated July 2021