Back to Normal
Most people took it casual throughout quarantine when it came to dressing up – after all, most people had much more significant issues. So, it was acceptable to be wearing some casual pajamas to match the suit and tie. After all, Zoom fatigue can be lethargic. Luckily in mid-2021, all of that is all behind us, and the world (with the exceptions of certain countries) is back to normal, and so are people’s closets.
Recently the consumer discretionary sector, more specifically clothes, has seen gains. This increase in shopping likely comes because people are overhauling their wardrobes to go back out into public; moreover, with school starting back up in a few months – this trend could likely keep up.
Banks have also taken notice of this trend; for example, Jefferies retail analyst Randal Konik explained in a note to clients, “Consumer strength continuing into June” and that “In footwear, Shoe Carnival noted better than expected momentum in June.” He even mentioned that “Abercrombie & Fitch was notably bullish on its women’s business.” Despite this, not everyone is equally interested in getting back out, especially because many companies have opted to keep workers working from home to save costs on brick-and-mortar officers. Quarantine was a good trial run to see if working from home was still efficient – and for most companies, it indeed was.
A Gartner survey of company leaders found that 80% plan to allow employees to work at least part of the time remotely after the pandemic and 47% will enable employees to work from home full-time. What do you think about the wardrobe overhaul, and are you participating?
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.
