Recovering Consumer Confidence: Lessons From September 11

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Recovering Consumer Confidence: Lessons From September 11

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Tani Fukui
MAY 05, 2020

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This Time is Different

After 9/11, we adjusted to a world where we knew terrible acts of terrorism were possible. Many people avoided flying for quite some time thereafter, and it took a while for confidence in physical safety to return.

We face a similar situation today although on a significantly broader range of activities. Consumer spending, a critical component to economic recovery from COVID-19, will likely hinge on credibly reassuring the population of their own physical safety and regaining trust could take years.