America’s bedrot era: How the dopamine recession created the ‘couch economy’
New spending data shows how much of the economy now depends on people staying home, and a chase for quick, easy hits of stimulation may be driving it.
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# Investment Summary The "couch economy" is reshaping consumer spending patterns, with substantial economic activity now concentrated in at-home entertainment and convenience services (streaming, gaming, food delivery, e-commerce), representing a structural shift away from traditional out-of-home spending categories. This trend benefits companies like Netflix, Amazon, DoorDash, and gaming platforms while creating headwinds for brick-and-mortar retail, restaurants, and entertainment venues, making sector rotation away from experiential economy plays increasingly important for portfolio allocation.
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