Pent-up demand
Pent-up demand is a term used to describe the phenomenon where consumer demand for a product or service is unusually high due to a period of suppressed or restrained purchasing power. This can happen for a variety of reasons, such as economic downturns, supply chain disruptions, or regulatory restrictions.
For example, during the COVID-19 pandemic, many people were unable to travel for an extended period of time. As restrictions eased and vaccination rates increased, there was a surge in pent-up demand for travel, leading to a boom in bookings for flights, hotels, and other travel-related services.
Businesses can capitalize on pent-up demand by strategically planning their marketing and sales efforts to target consumers who are eager to make purchases. By understanding the factors driving pent-up demand and adjusting their strategies accordingly, companies can benefit from increased sales and revenue.
Overall, pent-up demand can be a powerful force in driving economic growth and recovery after periods of uncertainty or disruption.
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