New Study Shows Americans Spending Less During Pandemic


CHARLOTTE, N.C. — More than 40 per cent of Americans are spending less during the Coronavirus pandemic, according to a second report in a three-part series from personal finance app Stash and LendingTree.

Among the key findings of the report are the following:

• More than four in 10 Americans cut spending amid the Coronavirus pandemic, but not everyone has had the ability to do so, especially low-income individuals and people of colour

• The top-three items consumers have increased spending on during the pandemic are:

  • face masks (76 per cent)
  • groceries and necessities (60 per cent)
  • digital-entertainment subscriptions (40 per cent)

• The top-three items consumers have decreased spending on are:

  • dining out and/or nightlife (67 per cent)
  • travel (58 per cent)
  • car rentals or purchases (25 per cent).

• Seventy-five per cent of consumers said they’ll continue to limit their spending in at least one category through the end of the year. The top-two things Americans will continue spending less on in 2020 are dining out and/or nightlife (50 per cent) and travel (37 per cent).

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