If you are waiting for a correction to buy stocks you shouldn’t be in stocks the first place. It’s because you are trying to time the market to begin with, which is one of the biggest mistake mind set of all for investing or trading
I'm grateful for it, but at the same time I know this is at the expense of many small companies in the restaurant and travel space, and all the labor they employ too, so that's pretty depressing. And I don't think it's sustainable so I expect my own luck to turn around eventually.
I don't think things will change much in the next 6 months though with another potential stimulus check on the horizon and at least until some of the state-level measures to reduce the spread of COVID are reversed (possibly with vaccines widely available?)
I do think the pandemic has set a new normal for ecommerce, but I very much doubt it will be at the levels we see today.
Will buying habits correct post-COVID? Sure, but factors have already been clamping down. If anything, you may see a boost in e-commerce in certain sectors.
I think HN commenters aren't your typical shopper, so I'd be wary of believing the echo chamber. I bet the average HN commenter also doesn't fall for "luxury" brands or the related "mating displays" which seem to be so important to many people. But there are a lot of people who do like those things. They like to dress up and show off among other members of their species. Retail may shrink, but it isn't going away unless human psychology suddenly undergoes a fundamental change.
Now, how many retail businesses won't ever open again is the real question. Plenty of small businesses closed and won't re-open and there might be strong hesitation for new businesses to spring up in their place. Sure, target will be fine, but the mom and pops could potentially never come back to the same level. They were already barely making it.