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Nike sneakers, Lululemon: America's new economy

09/01/2020 | 01:33pm EST

In America's new stay-at-home economy, Lululemon yoga pants and Nike Air Max sneakers are in.

Burberry trench coats are out.

A Reuters analysis of a number of goods shows just how the COVID-19 crisis has given rise to a new consumer, one whose mindset around everything from clothing to food has shifted after months of working from home.

And rising demand for certain items needed while staying home has driven up prices.

Americans are shelling out significantly more money on coffee, eggs, sliced ham and cheese, which have become more expensive, according to a Reuters analysis of the latest pricing.

And while some consumer experts complain that the rising prices are because retailers and big brands are cutting back on promotions, others point out that companies have had to grapple with costly production shifts.

And when it comes to "splurge" items... demand - and prices- have also increased for items like men's Nike Air Max sneakers and Lululemon yoga pants.

Both will cost you more than $100.

But at a time with no commute and few social gatherings, demand for a more than $2000 Burberry woman's trench coat has declined.

As for how long it will last? Much remains uncertain.

Experts say the pandemic and its economic consequences are moving targets, and it is unclear when - or even if - American life and consumer behavior will revert to "normal".

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BURBERRY GROUP PLC 0.42% 1808.5 Delayed Quote.-18.32%
LULULEMON ATHLETICA INC. 0.76% 375.42 Delayed Quote.60.83%
NIKE, INC. 1.02% 136.96 Delayed Quote.33.83%
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