How Has The Coronavirus Changed Our Spending Habits?
It's a whole new world these days.... binge-watching all things Netflix, Hulu or Disney+, homeschooling for all kids, graduating on your front lawns and even cooking at home more. What else has changed in this new pandemic world? Our spending habits.
It's not like we are spending less but just spending it differently nowadays. Online shopping, more alcohol purchases, delivery, less travel expenses have changed how we are spending our money nowadays. Will it stay this way or change has things get back to normal? I am not sure but I am sure that our spending habits have changed. Here are some stats on how our spending habits have changed during the pandemic according to Huffington Post:
1. 1/3rd of Americans are stress-spending
2. Online shopping is up 60% since last year
3. A quarter of shoppers are buying more from local businesses
4. Entertainment and Alcohol purchases have increased
5. Transportation/gas purchases have declined on a high rate
Find out more statistics on pandemic spending here.