Here's my reality, oil prices dropped to $20/barrel (and continuing to drop) for a variety of reasons; not just COVID-19. I'm obviously leaving out the other speculative reasons, as that's diving into politics.
My industry has been so disrupted, damn near all of my clients and the company's clients pulled the rug from under us this past month.... Literally ALL upcoming projects were either delayed for the foreseeable future, or flat-out CANCELLED. The disruption forced my company and all the nearby competition to layoff a LOT of their staff. With my company, they laid off many damn good engineers and nearly all of the designers down to the bare minimum. Other cost cutting measures include the former principals that are still working to drop their salaries to minimum wage, as they still have their fortune from the buyout almost a decade ago to survive on. Still, that wasn't enough....
.... So here's how this can relate to the effects of on the mystery shopping industry.... My company also cut out ANY non-billable positions, such as the front desk receptionist, accounting controller, project controllers, any extra IT support, HR generalists, etc.
Depending on how these clients of the MSC's treat and see the value of mystery shopping services WILL have an extreme effect if this quarantine extends into the summer. If these clients see this as an expense with little to no value (such as what happened to the non-billable positions in my company), meaning it's an expense with an ROI that isn't exactly guaranteed, then the mystery shopping work will easily be the first on the chopping block for those clients. Another scenario that can pan out though is that the MSC's fight and cut their rates even MORE, cutting fees and reimbursements on future shops even MORE, just to keep their clients on board with ANY mystery shopping services.
I sound real pessimistic about this, but being waist deep in the work force and being in a locked down city in Colorado, I'm witnessing a literal economic bloodbath the longer the quarantines continue.
Very infrequently shopping the Greater Denver Area, Colorado Springs and in-between in Colorado these days.