The outbreak of COVID-19 in America dramatically reshaped everyday financial habits – from causing a sharp drop in commute-based spending to leading some people to splurge on their pets. But how might these sudden changes impact the ways Americans spend and save in the long term?

With limited options to spend during the pandemic, Americans have been saving more money than usual. The economic conditions of the pandemic have left Americans on better financial footing with fewer outgoings than before, creating the potential for higher spending growth in the US.

In the wake of lockdown restrictions and Britons’ inability to physically explore long-dreamed-about holiday destinations, what impact has virtual reality had on the tourism sector and how will it continue to feature in people’s holiday planning and future travel experiences?

After a difficult holiday season for retailers in 2020, sales predictions are promising for 2021. Brands, particularly those in the luxury sector, are set to benefit from this, and some are ramping up their efforts to create experiences that will help give their customers a sense of escapism.