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Covid-19 poll daily insights
March 26, 2020
- People who are spending less may be making an exception for health and fitness gear.
- A higher amount of people ages 45 and over report spending more than usual compared to those under 45.
- Every day, people are increasingly spending a greater percentage of their money online vs. in store.
It’s getting physical: 40 percent of people who already purchased health and fitness gear said they are planning to buy more. This was as high as 65 percent for people who said they have recently spent less than normal. Plus only 2 percent of recent purchasers said they would not buy again in the near future. As one person who plans to buy again said:
“[I’d like to] try and emulate as much of my previous, ‘normal’ life as possible in the home while investing in activities I will be doing much more of—including wellness routines and home workouts—and spending less on items I’d enjoy outside the home, such as clothing.”
Age is factoring into people’s purchasing behavior— 54 percent of individuals 45 and over reported spending more than usual compared to just 38 percent of those under 45. Of the respondents who are changing their purchasing behavior in the 45 and over bracket, the majority are spending about 50 percent more than normal. Only 3 percent are dramatically changing their budgets, spending more than twice as normal. As for people who are under 45, we saw a higher percentage (9 percent) of individuals who reported spending more than twice as normal. Overall, however, almost 40 percent of those under 45 reported spending less.
Even in the last week, each day people are increasingly moving their shopping habits online, spending more on ecommerce vs. in store. As of yesterday, 30 states have instituted mandatory shutdowns for non-essential businesses. Knowing this, it’s no surprise that we’re seeing this shift in spending behavior.
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What are people buying and why?
People are purchasing essentials in bulk in anticipation of a longer stay-at-home period. Is it any wonder there’s such a toilet paper shortage?
“These are the items I anticipate needing in the next few weeks.”
People still have yet to solve their problem of boredom. Many report that they want to buy art supplies, video game consoles and booze. Can’t forget the booze.
“[I’m] trying to make sure I stay entertained. And fed. And somewhat healthy. And sane.”
Adding a furry companion is one way to make this experience more enjoyable for some.
“Now that it’s more clear we will be home for awhile, my wife and I are looking to change our home experience by adding a pet.”