Consumers Spending Leads To Shortages
Despite the COVID-19 pandemic’s massive hit to the economy, consumers are still spending which has created a windfall for companies that can operate under pandemic restrictions, says a report in the Globe & Mail. While pandemic constraints have forced people to cancel travel plans, Canadians have redirected spending to staycations that favour backyard barbecues, canoe trips at provincial parks, and family bike rides to the beach. There has been a run on everything outdoors, leading to shortages patio furniture and pressure-treated lumber. In some cases, supply shortages will extend into 2021. In May, sales of patio furniture were 46 per cent higher compared with a year earlier, bicycle sales rose by 60 per cent, sales of plants and garden supplies increased 12 per cent, and sports equipment jumped 29 per cent, with hunting, fishing and camping equipment up 11 per cent.