Just when consumers think it’s safe to draw down their pandemic reserve of toilet paper, many are finding stockouts and price increases on other products. Unexpected price increases on a wide range of products raise questions about when consumer product markets will return to normal. Authors Jaana Remes and Sajal Kohli highlight new McKinsey Global Institute analysis indicating that the pandemic interrupted a long-term rising trend in the share of services in household consumption, triggering an unexpected spike in demand for products. This may not change anytime soon.
Shortages of everyday products have become the new normal. Why they won’t end soon.
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