Tom’s Thoughts on how Reopening May Create Lots of Spending
Transcript:
Katie Nealis:
My husband and I just made reservations for a restaurant that reopens in the end of May. But it couldn’t get a reservation until late June, as it’s booked up, it seems like everyone is getting ready to back to get back out in the world and move on from the pandemic. Based on this, do you think you might see a crazy boom in consumer spending the summer?
Tom Vaughan:
Yes, I do. It will be tempered by the ability to spend that money because what you just said right now, theoretically, you know, Allison and I go on date night, every Saturday, we could have gone to that same restaurant five or six times in the timeframe that it’s going to take to get into at once, right. So that’s gonna be one of the problems is just this pent up demand is going to meet this shortage of supply. Part of that will probably be alleviated would assume part of the reason the restaurant struggling isn’t just that they don’t have, you know, staff or the food, although there is a chicken shortage, apparently, which is kind of amazing. But it really has a lot more to do probably with the regulations for that particular area as to whether they can be open, because if they only allow 25% in then it’s pretty easy to sell that out. Right.
So maybe by the end of June is when they have, you know, the ability to you know, bring more people into that restaurant indoors. Because I think in California that we’re going to be allowed to eat inside, you know, after June 15. As far as that goes, so, yeah, it’s it, I expect a really, really crazy environment for the from really from this summer, maybe for six to 12 months where people are trying to travel and do everything. I think it’s gonna be fun. It’s gonna be really interesting to watch how that plays out.