This Is What People Spent More And Less On During The Pandemic
The coronavirus pandemic change a lot of things in our lives throughout 2020 and now 2021 and one of those things were our spending habits.
Americans lives were turned upside down in 2020 and what we spent our money on was turned upside down as well.
PR Newswire released a report on Americans spending habits in 2020 and they found that Americans "panic buying" of certain goods changed what money was spent on pretty drastically. Below you can check out the top 5 things Americans spend more and less on in 2020.
What Did Americans Spend Less On In 2020?
- Movies 49% less
- Luxury goods 46% less
- Video games 42% less
- Clothes 42% less
- Entertainment 41% less
What Did Americans Spend More On In 2020?
- Groceries 41% more
- Self-care products 23% more
- Bills 22% more
- Takeout/Restaurant Dining 22% more
- Healthcare 20% more
The study also found that 14% of Americans are still panic buying some goods. The most common "panic buys" are toilet paper (big surprise), water, cleaning supplies, hand sanitizer, and paper towels.