The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
COVID-19: The Impact On Consumers’ Wallets
Americans across the country have been paying more for staples such as meat, eggs, and poultry as well as everyday household goods due to the pandemic. Grocery prices skyrocketed beginning in March and still haven’t fallen to pre-pandemic levels.
C+R Research recently surveyed 2,040 consumers and asked them how COVID-19 has affected their budget, shopping habits and diets.
Here’s what they found:
- 85% of American consumers report paying more for groceries during COVID-19 with an average weekly spend of $139.
- 75% report paying more for household goods during COVID-19.
- 65% have cut back on their food budget during the pandemic.
- The top ways consumers are cutting back on grocery spending:
- Eating less meat
- 2. Seeking discounts
- 3. Eating less poultry
- 4. Avoiding organic items
- 5. Buying in bulk
- 65% of respondents say they’d spend the majority of a second stimulus check on groceries and food, if one were issued.
Take a look at the full report.