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Articles From Lumsden McCormick

Distracted America

Consumer habits are changing as we spend more time at home.

Provided by David A. Schlein, CPA

Over the last year, many have seen their lives impacted by the COVID-19 pandemic. The ways in which we work, live, and communicate have drastically changed, to say the least.

It’s difficult to predict what other aspects of life may alter before we’re through this period of history. Still, data has emerged that suggests the way we relax has already adapted. In response to a steady media diet of troubling or sad news, it seems we’re all looking for a distraction.

Your Own Silver Screen - Consumer spending on subscription streaming rose by 21% to $12.2 billion in the first six months of 2021, suggesting we’re watching more media at home than ever.1

A Nation of Gamers - Video game sales at brick-and-mortar stores hit $5.6 billion in March, an 18% increase over a year ago. Digital sales are expected to push this startling figure even higher.2

Stay in for Takeout - Due to the increased number of us ordering delivery, the online food delivery services market is expected to grow from $115.07 billion in 2020 to $126.91 billion in 2021.3

These are just a few of the distractions Americans are finding as we all work toward happier, healthier, and safer times. As always, let me know if you’d like to chat about the above, the economy, or any other topics you’re pondering. I’m always here to help.

David A. Schlein, CPA may be reached at 716-856-3300 ext. 120 or dschlein@lumsdencpa.com

www.fslumsden.com


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This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting, or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax, or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.

Securities offered through Avantax Investment ServicesSM, Member FINRA, SIPC.  Investment Advisory services offered through Avantax Advisory ServicesSM. 

Citations

1. Tvtechnology.com, August 11, 2021

2.  Fortune.com, April 16, 2021

3. Globalnewswire.com, April 27, 2021
 

Distracted America

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Dave is a tax partner with over 30 years’ experience in service to closely-held family-run businesses, high net worth individuals, and for-profit flow-through entities. Dave’s expertise lies in the areas of real estate investments, the oil and gas industry, partnerships, S corporations, and closely held C corporations. His day-to-day activities include investment advisory services, the coordination and delivery of tax planning and compliance services for individuals and businesses. Dave holds his FINRA Series 7 and 66 licenses; he also holds Life, Accident, and Health Insurance licenses. 

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