Justin Lahart
speaker
1,185 appearances
22 recordings
1 series
first heard Jul 2017
last heard Dec 2024
Justin Lahart’s voice in public audio — every appearance, attributed to the second.
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overall spending is up a lot from where it was before the pandemic.
What's important is to think about is the contours of the spending.
So we saw in the pandemic, not only we saw lots of people buy online, but there was lots and lots of demand for goods as opposed to services, services like going out to restaurants or traveling or those types of things.
So
In conjunction with this shift towards in-person purchases, we're also seeing a move back toward more services spending.
So this will be a much more service-y holiday period than what we saw last year, right?
People are going to be
getting on airplanes.
People are going to be getting in their car and driving to grandma and grandpa's house.
People are going to go out to the movies.
They're going to reinstall, you know, maybe their holiday tradition of everybody going out to the movies a couple of times during the holidays.
They're going to book reservations for New Year's Eve.
Is services spending going to be back to where it was or is that services activity going to be back to where it was before the pandemic?
Of course not.
But it's going to be a lot closer to where it was this holiday period than it was last holiday period.
So you're going to see a lot of that movement and changing in holiday spending.
And it's going to be a much better year for services businesses than last year was.
This could be a guide to what happens with consumer spending in the year to come, that we see an ongoing shift away from our kind of pandemic way of doing things.
and getting closer to what normal used to be.
So continue to see better spending on services and to some extent that pulling away from good spending to some extent that pulling away from online spending, right?
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