Prepare for the “great resetting” and other post-covid-19 anomalies
If nothing else, this Covid-19 pandemic has certainly expanded our vocabularies. After more than 60 days of social distancing and otherwise odd changes to our daily routine, I’m sure many of us are using some expletives-deleted speech to describe our feelings. Words like patience and tolerance are certainly in short supply.
I just read a national story about the potential for retail bankruptcies after another month or two of economic slowdown. Sobering facts: 630,000 retail businesses have been closed since mid-March; one industry liquidator predicts as many as 25,000 stores and 100,000 restaurants could end up closing permanently.
But I did learn a new term; they’re calling it the Great Resetting. That’s the expected recovery as we watch major retailers scrutinize store leases and locations and ditch borderline ones. Who will come out on the other side of the economic downturn brought on by many of us staying home and many people being unemployed and having little or no discretionary spending.
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