3 ms·
> But upscale shopping malls in elte cities were actually doing pretty well prior to the current situation. I believe that is called "Retail Therapy" but it on
by staycoolboy 6y ago
> But upscale shopping malls in elte cities were actually doing pretty well prior to the current situation.
I believe that is called "Retail Therapy" but it only works if you have money to burn.
https://www.psychologytoday.com/us/blog/the-why-behind-the-buy/201305/why-retail-therapy-works https://www.psychologytoday.com/us/blog/the-why-behind-the-b...
As we've seen, most people don't have money to burn, as "most american's have no savings":
https://www.axios.com/americans-emergency-savings-coronavirus-f11deffc-b8c1-48e0-a3db-0aeb3ce74fb9.html https://www.axios.com/americans-emergency-savings-coronaviru...
or...
https://www.cnbc.com/2020/01/21/41-percent-of-americans-would-be-able-to-cover-1000-dollar-emergency-with-savings.html https://www.cnbc.com/2020/01/21/41-percent-of-americans-woul...
https://www.fool.com/retirement/2020/03/27/nearly-50-of-americans-dont-have-enough-emergency.aspx https://www.fool.com/retirement/2020/03/27/nearly-50-of-amer...
- deleted 6y ago[deleted]
- blacksmith_tb 6y agoTrue, though many Americans have access to credit. Though that can't be sustained, it can work for a while.