5% is actually huge with just partial lockdowns (car traffic was still allowed, there was just some time restrictions), and if the situation continued then life styles and the whole industry chain would have also adapted making this figure much larger

"shortages" are very relative, does it concern vital resources? (like water (not plastic bottle water but tap water), vegetables, rice, soap). Let alone the amount of waste is huge

This choice will sooner or later be forced, either from inflation, or government restrictions. We misunderestimate the massive crisis coming, it will be nowhere close Covid