Before you ask, it does not need to be toilet paper too, okay? It may just be fast food but that has passed. Even Gardenia bread craze? That’s over too. Now I could find them nearly every time I am at the convenience store. However, today we look at a another ‘essential’ the Bubble Tea. Wait a minute. Repeat that. Essential?? Yes, this is definitely an essential good because it generated a panic queuing for it in Singapore just a day before most of these stalls have to be closed.
Article in malaymail.com Article quoted someone who heard that standalone bubble tea outlets will be closed until May 4 or longer, the person decided she must go and get one last sip of her favourite beverage. When she arrived, the queue was already very long and in fact some were sold out and in the end, the person had to buy from a shop which was “less than popular.” Even this shop, there were already queues and she only got her drink after 15 to 20 minutes. She said, “It’s a staple comfort drink, like eating ice cream for me. I don’t know how long I will have to wait to be able to have it again.”
The article shared a lot of other outlets which were also swamped by people. Photos and videos of long queues became viral after Singapore Prime Minister Lee Hsien Loong announced in a live address to the nation that the circuit breaker to limit movement of people was extended to June 1 and more businesses selling non-essential items will have to close to arrest the spread of the coronavirus. Please do refer to the full article here for even more details about how determined many of these were to get their bubble tea before it closes. Article in malaymail.com
The lesson I learnt from this? First of all, not to think of bubble tea as an essential good in my life. Yes, I do drink but if it is to be closed, I am fine with just drinking my iced coffee at home. Secondly, to really think about the risk that I would expose myself just because I needed my bubble tea. There was a reason why the Circuit Breaker was initiated in the first place by the government of Singapore, right? I am very sure it was not because everything was still normal.
When it comes to the investment world, the days when someone tells you that it’s the last few units, do you proceed to invest? Well if you have evaluated it earlier and have spare cash, maybe. However, seriously, if it is the last few units, it meant that this person selling you would soon be out of job. There will definitely be opportunities in the future.
Another thing we learnt is this. When that most popular brand is already closed, people will go to the second and then the third. This tells us very directly. That most famous and popular area may already been fully sold but the area next to them is still available. Many more people who wanted to buy in that most popular area may also consider this area next to them. So if you buy the area now, chances are more people will also be buying into it too because the most popular area is not longer available… Happy understanding and ordering your favourite bubble drink yeah.
Please LIKE kopiandproperty.com FB page or Sign Up for free to get daily updates about the property market. Else, follow me on Twitter here.
Next suggested article: They say this is also because of COVID-19
