Consumption in solo mode
Consumer habits during the pandemic had radically changed, pushing us to focus on DIY, gardening, and other activities. The Covid era is well and truly over, explains the weekly magazine “The Economist”: we're once again shopping while leaving the house, but more solitary than before.
In the doldrums of the pandemic years, we became accustomed to staying home. As a result, spending on services plummeted across the board, from dining out to international travel to elective healthcare. Meanwhile, demand for goods surged, particularly for computers and exercise bikes. These trends surprisingly persisted when life resumed. In 2023, we called these people who spent this way “hermit consumers.”
Stay-at-home consumption is now a thing of the past. Across developed countries, sectors fueled by homebody enthusiasts have rebounded, and the share of spending devoted to services has finally returned to pre-pandemic levels (see chart) . But not in quite the same way. The hermit economy has given way to another kind of consumption—and while its differences from pre-crisis norms are more subtle, they are nonetheless profound.
The resurgence of out-of-home consumption is particularly visible in the United States. Since 2023, spending on public transportation has increased by 21%, compared to
The Economist (London)A major British press institution, The Economist, founded in 1843 by a Scottish hatter, is the bible for anyone interested in international news. Openly liberal, it generally advocates free trade, globalization, immigration, and cultural liberalism. It is printed in six countries, and 85% of its sales are outside the UK.
None of the articles are signed: a long-standing tradition that the weekly supports with the idea that “personality and collective voice matter more than the individual identity of journalists.”
On The Economist website, in addition to the newspaper's main articles, you'll find excellent thematic and geographical reports produced by The Economist Intelligence Unit, as well as multimedia content, blogs , and a calendar of conferences organized by the newspaper around the world. As a bonus: regular updates of the main stock market prices.
The magazine's coverage may vary between editions (UK, Europe, North America, Asia), but the content is the same; in the UK, however, a few additional pages cover national news. The Economist is 43.4% owned by the Italian Agnelli family, with the remaining stake being shared among prominent British families (Cadbury, Rothschild, Schroders, etc.) and members of the editorial staff.
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