Will Consumer Spending Bounce Back After Stay Home

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How’s it going everybody this is vita bush with infection going on i figure i cover a bit about how consumer habits are gonna change going forward now with everybody staying at home most people’s consumer habits have changed significantly mainly people aren’t going out to restaurants people aren’t going to sporting events and instead in preparation for staying

At home they bought a lot more electronics initially they also stocked up on a lot of groceries and all in all most people are likely spending a lot less than before now my channel has largely been around minimizing your expenditure increasing your cash flow increasing your income sources and as a result of doing this you can actually retire way earlier than a

Lot of other people when i made these videos about not spending a lot of money a lot of people thought it was a little bit too cheap if everyone happened to do the same thing as i did it would essentially crash the economy now with people staying at home this is another catalyst that cause most people to become very very frugal overnight now what happens with

Everybody suddenly not spending it did indeed crash the economy so this could be thought of as an experiment where people becoming frugal suddenly becomes a reality so this is very interesting very sad at the same time because a lot of people dying but this is what would have happened if instead of an infection people just change their consumer habits because

They suddenly thought oh you know eating out is bad going to all these events is like a really big waste of money and suddenly people became a lot more frugal and this is essentially what’s going on right now the result of either one is roughly similar now it’s important to realize that consumer spending habits has a huge effect on the economy the u.s. gtp is 70%

Dependent on consumer spending so if you just have 10 percent less of consumer spending you’re all of a sudden going to have a 7% reduction of gdp now this is a major thing because if we talk about minus one or two percent loss of gdp this is already very very bad for the economy so 7 percent is really really gonna crash it now with people forced to staying home

A lot more people are forced to cook themselves a lot of people including myself don’t even want to order takeout we do not know how high a chance that you have in contracting the infection if you order takeout and let’s say you know it’s contaminated or something and you touch it and you eat it and some people are not even taking that to chance if you don’t get

Anything from outside you’re not going to get infected if everything that you bring in you sanitize and you make sure everything has no germs on it then well you’re not gonna get an infection every article i’ve seen about food safety so far is that they say most likely you’re not gonna get infected through ordering takeout but right now i think it’s really hard

To trust a media you can’t just read an article and just go oh yeah that’s what they say so i’m gonna follow it because look initially the media basically said you shouldn’t even wear a face mask and now they say you should so which is it right so they don’t have a really good track record of telling you what’s exactly safe i personally believe that if you want to

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Have zero chance of contracting it at all then you know you might want to consider not ordering as much takeout yes this is going to have a larger detrimental effect for the restaurant industry but you also have the lookout for well is it safe to order for yourself if someone was sick working at the restaurant preparing your food are you gonna take it up to chance

With their food safety procedures to see if you might actually get it or not i personally would not mind ordering from a restaurant if they show me that they take significant steps for food safety for example if whatever worker goes in they always wear a mask they always clean their hands they have strict protocols on you know being completely sterile when they

Prepare the food then i for one i’m gonna order from that place even if it’s pizza whatever kind of food it is i will order from it just because they are super safe now with this lockdown going on i think most consumer spending is actually gonna reduce significantly most people i think are not even used to spending so little all of a sudden they’re staying at home

And then they’re like i don’t need to buy anything i know even for me as a frugal person my expenditure has actually dropped a lot i don’t even pay for insurance and right now it’s going on for one month of unpaid car insurance i don’t drive my car of course when i’m not paying my insurance and instead if i need to go anyway i just go on my electric scooter not the

Gas scooter that requires a license or insurance of course the fact is after you do all these changes you might wonder as a society as a whole will people suddenly realize hey maybe i don’t need all those things i live just fine during lockdown without all those extra subscriptions or going to the bar all the time i’m actually possibly a little bit happier without

Even needing all of that whichever reasoning it is it gives a consumer a chance to try out this frugal method and see if it works for them i believe that there’s going to be a certain amount of people after trying this somewhat restrictive life out they might go hey i don’t need to buy as much stuff as i thought and if this infection goes away overnight let’s say

We have some medicine that would treat it let’s say we have a vaccine or whatever and suddenly they just open up the entire economy everyone can just roam everywhere it’s gone okay this infection completely gone you can go wherever you want but people are gonna be scared people are not gonna jump right back jetting everywhere going to all the restaurants and stuff

Some people just might go hey i really liked not spending all that much money and actually saving a lot more from before so some of these habits are definitely gonna stick and because of this there might be a lag in the economy recovering and this is very very important when you’re thinking about investing and you think if this goes away it’s gonna pop right back

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To where it was i think it’s gonna lag a little bit now right now if you want to spend more it actually takes a little bit of creativity where can you spend money because there’s quite a few online places that’s not even in the deliver i have a really hard time finding even a slot to buy my online groceries personally when i look on social media some people not a

Lot the social media posts seems to have died down a lot more than before when people are able to go out people tend to show off a little bit more because they go to a certain travel destination they can post a picture or something but now it has been confined to possibly getting expensive foods online and then they post videos pictures about those things you can

Definitely still get restaurant delivery of course of fancy places but i just looked at some of the restaurant delivery places i half of them are closed and you can’t even get delivery for a lot of these stores have you guys noticed during this lockdown that you have a lot more time doing things that you haven’t done before and if you are experiencing this this

Is similar to early retirement if suddenly you don’t have to work at all this is what my life turned out to be when i first stopped working and i just started doing sort of part-time on youtube so i had a lot more time doing a lot of things for myself this includes doing a lot of things on your hobby projects i remember before to lock down i actually have less

Time even you know as a semi-retired youtuber and then when i do go out it’s actually consume some of my time now that i don’t go out at all i get probably one extra day every single week and this adds up to be a lot of time so i’ve been pulling vines in the backyard i’ve been disassembling a fan where it’s really really hard to clean just a lot of things that

Normally takes a lot of time now i’m like oh why don’t i just start doing that now and i’m able to actually finish it i can take my time doing those things and i would imagine this might be what full retirement is like now if you guys are interested in spending minimally here are some ideas the way you eat out when you go out to restaurants i personally still go

Out because i still need to socialize meet other people but i remember i used to do it in a way where if i’m hungry i ask people to go out even if it’s not for the purpose of socializing it’s more like number one i’m hungry first i want to fill my belly i’m socializing as a result of that so it’s not the highest priority so if you switch the highest priority to

Socializing first and the second priority is eating something delicious then you can use this as a way to meet other people so for example if every day you come home and you’re like i’m hungry i’m lazy i just want to order pizza in i just want to order some fast food you want to order some chinese or something if you do this on a daily basis it’s gonna cost a lot of

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Money so my personal default is just to make my phone food all the time everything is from scratch is super healthy because none of it is processed and only when i’m meeting someone do i go okay i can lid off on eating at home i’m not gonna bring food to a restaurant or anything so i’m gonna meet whoever at the restaurant because this happens to be a nice setting

Right you can go somewhere we can enjoy the ambiance you can enjoy the food that’s there you can make sure it’s one of the top places to eat and you can bundle this with socializing so you get kind of like double duty here not only are you eating a really good place you’re also meeting someone that you haven’t met for a while and this is kind of like renting the

Place as well as getting food so that you can hang out at that restaurant if you’re looking for reasons to not eat out at a restaurant just think about when they get the vegetables maybe they’re not washing it as fully as you are so there’s gonna be a whole bunch of pesticides on it maybe the food could be expired there could be mold on it they’ve let it sit in

The fridge for a little bit too long and then they cook it it’s gonna cook off maybe it’s like a chili or something they mix it up and then they still serve it – you could use food that’s expired and you might not even be able to tell maybe you might have some intestinal issues afterwards and another issue with eating out is they could have made the food dropped

It maybe they touched it with unsanitary hands maybe the shift went to the restroom they didn’t wash your hands because there’s no cameras that’s watching them right and then they go right back to work and then you know touch your food or what not so you never know what people are gonna do to your food because this is all behind closed doors do you trust them

To be completely sanitary because if you’re making your food i’m sure you make your own food a lot more cleaner than the people at the restaurant does so that’s it for today just have a little bit of hope that we might be able to get out of this soon this is what i personally think about to keep myself sane some day we might get back to normal but then maybe our

Consumer habits might change a little bit as a result and as a result of this it might affect stock prices in a negative way because people aren’t consuming as much i hope you guys enjoyed these thoughts on where the consumer is headed don’t forget to give me a like on this video comment down below let me know where you think the consumer habits it’s headed after

We get out and free ourselves from our homes and as always don’t forget to push that subscribe button and ring that bell icon thanks for watching

Transcribed from video
Will Consumer Spending Bounce Back After Stay Home By BeatTheBush

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