On this week’s show, we covered a wide range of topics! First, we gave a local update of openings and closings here on the Eastern Shore. Also, Jeff and Joani discussed what’s been going on in the markets lately; from the depressed oil prices that are beginning to rise, Disney’s dismal earnings and their business diversification strategy, and the potential of a nationwide meat shortage, which brings a new meaning to the 1984 Wendy’s commercial “where’s the beef?” Finally, we talked about a recent consumer sentiment survey that may have some good insights for Small Business owners looking to re-open and market their businesses effectively in these changing times

Disclaimer: Please do not take advice from me on this show. As a licensed Fiduciary I am only allowed to give advice to clients. So unless you’re a client I can’t give you advice because I don’t know you. So think of this as helpful hints and education only. And please before implementing any information or ideas you hear on this show always consult your legal adviser, your tax adviser, and your financial adviser………….right? that’s just common sense.

(6:07) A discussion on current market updates[1]:

• Oil Prices took a drastic dip a couple of weeks ago, but we are starting to see them come back up as the country begins to reopen
• The markets- The stock market volatility and uncertainty has tapered off recently
• Disney reported dismal earnings yesterday. What does this mean?
• Meat Shortage- Kroger is limiting how much meat you can actually purchase!

(13:30) A study on understanding U.S. Consumer Sentiment during the Coronavirus pandemic by Win Big Media, owned by Phillip Stutts[2]

This research serves to shed light on both actions being taken and concerns being felt by consumers around covid-19 and its impacts on everyday lives.

Some interesting highlights:

~The ‘Instagram economy’ is essentially dead because of how egocentric it comes off

~95% of respondents were at least moderately concerned about the economic affects due to the coronavirus pandemic.

~33% of the respondents said that they would increase the amount of home improvement/DIY projects they do during the quarantine

~53% of folks are increasing the time they spend on personal hobbies

~43% of folks said they would postpone dental and/or medical appointments. From a business standpoint, that can be a huge hit!

~From where are folks primarily getting their news from? 21% of folks are consuming news from their local stations.

~Personal Values- #1 was helping and caring for your family and friends #2 was keeping your self safe #3 trust and safety

[1] https://www.morningbrew.com/daily/2020/05/06?email=kristen@mfswealth.com

[2] https://www.winbigmedia.com/covid