An Optimist’s Guide: 3 things you should invest in now for the end of the pandemic

words Alexa Wang

Life has been transformed beyond recognition as a result of the Coronavirus pandemic, and as our daily routines have changed, so have our shopping habits.

One in seven people already says they believe they’ll do less shopping of any type when life returns to ‘normal’, and demand for some items has dropped during lockdown. However, once the final restrictions are lifted, and we start to be able to do some of the same things we did before, demand for particular products may well increase again.

As such, it may be worth picking certain things up now, either to beat the rush on them further down the line, or simply to take advantage of some serious sales discounts. Here are some items you should consider buying early, so they’re ready to use once the pandemic is over.

invest during covid

Formalwear

With all mass gatherings and social events on hold, there hasn’t been any need for formalwear. However, once they have the chance to do so, there’s no arguing that people will be keener than ever to socialise once they can, so why not treat yourself to some fancy new clothes in preparation? With that in mind, investing in formal clothing will jazz up your wardrobe in time for all manner of business events, dinner dates and weddings. If you choose a British business, such as Hackett who provide luxury, high-quality formalwear or evening wear from Hobbs.

High street retailers are also extremely likely to have significant amounts of excess stock right now, which they’ll be keen to shift before new orders come in, particularly when it comes to the new season’s fashion. In fact, the so-called sale of the century is predicted to entice shoppers out after lockdown, with retailers hoping to sell up to £15 billion worth of clothing.

invest during covid

Cars

At the present moment, buying a car might seem like a waste of money, considering the fact that there’s hardly anywhere open to visit. However, lockdown has seen a drop in sales of new cars, plummeting by as much as 97% in April, which means some car dealerships will be offering great deals on motors until the demand increases again. In fact, models like the Volkswagen Golf SV and Mercedes Estate are being sold for 25% lower than their original price.

However, timing your purchase is essential, because as soon as the demand for cars increases again, many dealerships will simply increase their prices to compensate for the sales they lost during the lockdown period. Those in London should also consider that more people may choose to buy cars in order to avoid using public transport — a recent survey saw 77% of Londoners say that they “feel differently about public transport” in the age of Coronavirus. In fact, nearly half of those asked said they would be less likely to use public transport, due to the fear of contracting the virus themselves.

Gift cards

Gift card usage has been a go-to gift for anyone who has had to celebrate a birthday in lockdown, and they don’t just serve as a great present at a time when entertainment and leisure options outside of the house are non-existent. They also offer much-needed support to the many small businesses which have struggled during lockdown, due to temporary closure and lost sales.

From bookstores to hair and beauty salons, independent retailers across all sectors have been offering customers gift cards in the hope that individuals will put money into the business, keeping it afloat during these trying times. By purchasing a gift card from your favourite business, you’ll be investing in its future.

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