Episode 69 of Down to Business podcast
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Sep 16, 2020 • • 2 moment browse
Examining a magazine article the other day, I was struck by a report that daily life in several elements of China has fundamentally returned to standard, or is returning substantially more quickly than it is in this article. There is been some dialogue about how authoritarian or semi-authoritarian governments are far better outfitted to regulate the impacts of COVID-19 fundamentally for the reason that they can purchase you to remain household, or say don a mask.
This week, on Down to Business, Anindya Sen, an economist at the University of Waterloo, speaks about how shopper conduct has transformed during the pandemic. Sen and many colleagues have been learning knowledge launched by Google on how client traffic throughout numerous retail classes from grocery merchants to bars and places to eat has transformed.
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Shopper habits serves as a proxy for how we interact with govt shutdown orders, and Sen uncovered a lot of Canadians actually started out staying house very long in advance of their provinces issued health and fitness rules instructing people today to social distance. Now, he mentioned, many younger people are going back again to bars.
So what is the takeaway? It signifies that in Canada, the federal government requires to take into consideration people’s notion of possibility when it crafts shutdown orders because closing bars might just direct some men and women to go the get together into a dwelling.
It is one particular of several topics reviewed through a discussion about no matter whether a retailapocalypse is coming and what storefronts in metropolitan areas, and malls in suburbs, may appear like in a 12 months or two.
For the duration of the previous recession, Sen noted the so-called gig economic system was born, in which corporations like Airbnb and Uber, certain men and women to monetize their properties and vehicles. We also talked about exactly where he sees chances as this recession will take maintain, soaring pressure to elevate the minimum wage for frontline workers and whether or not a assured fundamental money tends to make feeling.
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