It is no secret that coronavirus pandemic has disrupted the finances of many people. The state of some countries is so bad that they are in some critical financial situations. This has led many people to cut some of their expenses to gain some stability. Hence, the trend of spending on consumer goods has changed dramatically in the first half of 2020.
The spending habits of consumers were mainly based on personal goods as 70% of GDP was driven by personal consumption in 2019. Over recent months, the customers have made their purchases very carefully. However, the businesses haven’t shown signs of a significant plummet in sales. In fact, some industries have profited from the current situation. This is evidence enough that people may have changed their spending habits, but they haven’t stopped shopping These industries include grocery, retail, pharmacy and medical items, office supplies, clothing, food; delivery and takeaways, etc.
Take a look at the following infographic that shows the result of a study that shows the spending habits of about 5 million US residents during the pandemic.