Welcome to the age of the hermit consumer

In some waysgdp covid-19 was a blip. After soaring in 2020, unemployment across the rich world quickly dropped to pre-pandemic lows. Countries re-attained their pre-covid in short order. And yet, more than two years after lockdowns were lifted, at least one change is enduring: across the rich world have shifted decisively, and perhaps permanently. Welcome to the age of the hermit.Before covid, the share of consumer spending devoted to services was rising steadily. As societies became richer, they sought more luxury experiences, health care and financial planning. Then in 2020 , from hotel stays to hair cuts, collapsed. With people , demand for goods jumped, with a rush for computer equipment and exercise bikes.