I have read that some people are speculating that certain retailers will have some "fire sale" prices on certain devices after COVID-19 is behind us. While I am certainly no economist, I can understand why some people are predicting that. It will probably be good for some of us, if we have been dragging our feet on buying certain things, to buy after the COVID-19 effect to keep those retailers afloat.
While I am not desperate for a Garmin DriveSmart 65 with Amazon Alexa, I might consider it, if the price were right. Is there anything that my fellow POI Factory members might spring for, when, or if, there is a great price?
I am thinking quite the opposite. Many retailers will have fire sales to attract business DURING this whole thing, and perhaps for a short time after it ends, to attract business to stay afloat.
There will be a pent up demand after it ends and as a retailer, why would you lower prices if demand is high?
That and mobile phones should drive gps prices down
...There will be a pent up demand after it ends and as a retailer, why would you lower prices if demand is high?
You might be right. Here is an example that I had in mind. Far less people are driving right now, but there are probably Garmins sitting at retail stores and warehouses. Once we start recovery, many more people will start to return to work, but may be low on funds for the purchase of new devices. So, I am thinking some places may offer great prices to start things moving again.
In the interest of fair disclosure, I have never taken a single class on economics, so pretty much everybody on POI Factory knows more about the economy than I do!
Conversely, could there be a short term spike on things like gasoline and other things that will suddenly have an increased demand? Gasoline prices near me in Minnesota have dropped. I doubt that will last when the recovery begins.
I think that this situation will last into the summer. The recovery will be slow. Many businesses that don't have the cash reserves will go under. Its a very sad situation.
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