Analysts: Omicron could spur purchase of goods instead of services — CNBC.com

Photo by Atoms on Unsplash

Some economists believe that the current Omicron variant may contribute to inflation. Why? Nervous consumers may opt to purchase goods rather than experiences, such as in-theater  movies, travel, or dining out:

Omicron could inspire more people to buy goods rather than services, which would compound inflation as demand remains high and supply chain challenges continue, National Retail Federation’s chief economist, Jack Kleinhenz, said.

P.S. Everybody is working to adapt to a new reality. Flexibility and responsiveness will go a long way in keeping necessary goods on the shelves while protecting communities. A nimble, adaptable supply chain is a key component of keeping the economy going right now. 8th & Walton experts stand ready to assist your supplier business at this time. We also offer web-based classes that can get you, and your staff, up to speed.