5 Things We’ve Been Spending More and Less on Since the Pandemic Started
Since the beginning of the pandemic, we have heard about product shortages because of high demand. But what are people actually spending more money on?
In a recent survey by Intuit, 2,000 Americans were asked what they were spending more and less on and what they found turned out to be pretty obvious.
Before we look at what the survey found, let's think about how the pandemic has affected people's lives. Fewer people were going in to work and going out in general because of closures and restrictions, more people were seeking entertainment at home and shopping online.
So, based on that information, the things people spending more and less on ended up being almost exactly what you'd think.
5 Things People Are Spending More On
- Coffee - 45%
- Streaming subscriptions - 36%
- Package delivery/shipping costs - 35%
- Technology - 33%
- Cell data - 33%
Coffee being number one could be because people were getting less free coffee from work. And it makes perfect sense that more people were buying streaming subscriptions and getting packages delivered because they were stuck at home.
So what were people spending less on?
5 Things People Are Spending Less On
- Clothing - 34%
- Cosmetics - 30%
- Transportation/commuting - 25%
- Entertainment - 24%
- Alcohol - 21%
All of those answers make sense except for one. People weren't going out, so sales of clothing, cosmetics, commuting, and entertainment were all down. But, alcohol? Really? From personal experience, everyone I know was definitely buying more alcohol during the pandemic.
You can read more about the study and check out the methodology here.