Champagne, skirts, and shaving kits are among the items Americans are buying in what we hope is a post-pandemic economic turn.
According to a story on CNBC last Sunday morning, retail sales rose 9.8% in March amid greater vaccinations and stimulus check disbursements.
Last Wednesday, JPMorgan Chase CEO Jamie Dimon
shared:
“What happened is, the consumer has so much money, they’re paying down their credit card loans, which is good. Their balance sheet is in excellent, outstanding shape – coiled, ready to go and they’re starting to spend money. Consumers have $2 trillion in more cash in their checking accounts than they had before COVID.”
This is positive news for Delaware’s retail, hospitality and restaurant industries as more people get vaccinated and regain confidence to move about and engage in commerce and life. Personally, I was at Christiana Mall this past Saturday and observed mask compliance at 100 percent, and stores having to manage visitor density. The trends in vaccination rates are very good news and so is the pace of recent retail activity. However, people need to remain diligent and careful—wear your mask, wash your hands, and watch your distance.
With warmer weather and more outdoor dining options opening, all the signs are positive for the continued healing of several sectors of our economy. Many businesses are at an encouraging but fragile economic moment. I trust policymakers will understand that and be measured with the choices they make.
