A lot of things changed for Americans over the past year, and that includes how they spent their money.
A new survey finds:
- 60% of Americans say their spending and shopping habits have been permanently affected by the past year.
- It’s not that people aren’t spending money, it’s more that what they are spending it on has changed.
- Due to the pandemic, folks have spent less money on things like:
- Movies (49%)
- Luxury goods (46%)
- Video games (42%)
- Clothes (42%)
- Entertainment (41%)
- Instead, folks have been upping their spending on essential needs like:
- Groceries (41%)
- Self-care products (23%)
- Take out (22%)
- Healthcare (20%)
- 58% of people say they are using what used to be their “going out” budget on staying in.
- While 41% are spending more money on nesting, and redecorating their home.
And apparently certain pandemic habits are hard to give up.
- When it comes to essential goods, 49% of people admit to resorting to panic buying certain goods at the beginning of the lockdowns. The top panic purchases included:
- Toilet paper (50%)
- cleaning supplies (42%)
- Hand sanitizer and water (41%
- Paper towels (40%).
- Meanwhile, a year later 14% of people are still guilty of panic buying items like:
- Toilet Paper (35%)
- Water (31%)
- Cleaning supplies (30%)
- Hand sanitizer (29%)
- Paper towels (28%)
photo: Getty Images