March has been a challenging time for all of us. Appropriate that the month is named for the Roman god of war — if you happen to be reading this from one of the countries experiencing strict quarantine measures and lockdowns, it can feel a little like a besiegement.
Will April be better? It depends on whom you ask. The 14th-century poet Geoffrey Chaucer, seen by many as the father of English literature, joyfully described April as a time of sweet life-giving rain showers, reawakening vigour and riotous humour in one’s veins. T.S. Eliot, the lodestone of modern verse, glumly called April “the cruellest month” in his famous work “The Waste Land”. But poets are a weird bunch, anyway. Don’t listen to them.
The news dailies vacillate between pessimism and hope, while they report on teetering Western economies and the tentatively rebounding Eastern markets.
Do you know what “revenge spending” is, WorldTempus family? I didn’t until recently. Analysts are using this term to describe the surge in commercial activity that has erupted after China relaxed its draconian quarantine rules, allowing shoppers to re-enter malls and unleash all those weeks of pent-up energy (and cash).
Off-the-record conversations I’ve had with watch brand executives in charge of the commercial side of things in Asia indicate that revenge spending is a real thing. I’ve heard accounts of wildly encouraging sales figures that no one would have anticipated at the end of February. It comes from the confluence of repressed (and now suddenly released) consumption patterns, the accumulation of pre-orders made via personal channels during the period of confinement and now made official upon the reopening of businesses, and the concentration of local spending since overseas travel is still highly restricted.
Some business insiders, particularly local industry figures with strong HNWI networks, are tempering expectations with more moderate observations, suggesting that this spending surge might not last. unambiguously
One takeaway I’ve gleaned from all these conversations that is unambiguously positive, however, is that true watch enthusiasts will always find a way to support the products they love.
Do you know what else April has in store for us? The first of April teaches us to use our critical faculties and think for ourselves instead of accepting unverified information. Earth Day comes later in the month, reminding us that there are always larger issues at stake, and to act with the greater collective good in mind. Easter arrives mid-April, giving us hope for a time of rebirth and salvation. And the season of Ramadan closes the month, a season of abstinence that focuses on spiritual reflection and empathy with those less fortunate among us.
Which theme will prevail? Hopefully, all of them. Strap in and stay watchful, WorldTempus family. It’s going to be a wild month ahead.
