Omicron may boost retail sales

The rise of the Omicron virus may lead to restrictions on travel and other experiential purchases, which may benefit retail sales in turn. “We know, unfortunately, that when the variants have had a real impact on the economy, the goods side of the economy has actually benefited from that because people change behavior away from the experience side of the economy and spend more time and more dollars engaged in the goods side of the economy,” said Matt Shay, CEO of the National Retail Federation.