You Will NEVER Guess What Americans are Spending the Most Money On in This Pandemic
The past weeks have witnessed the stockpiling for basics like groceries and household items as more Americans prepare for the lockdown period caused by the coronavirus outbreak. However, there has been a sea-change in priorities for Americans. After the toilet paper shopping frenzy, more people are now online shopping for books. There has been a surge in online shopping as people are now forced to stay at home.
They have bid goodbye to the typical trips to the store for the time being and are slowly embracing the realities of the new normal during the extended quarantine period. In addition to the overall growth of e-commerce spending, sales data reveal that American online shoppers have shifted focus to buying more books and games in a bid to entertain themselves while remaining shut at home. There is now a surge of online splurging due to stay-at-home orders amid the pandemic.
E-commerce spending in USA grew by more than 30% from 1st March through mid-April. This is a significant spurt in growth compared to the same period last year. Market research firms say that this growth is over 50% more than the average annual growth in recent years, which remained at 20%. This data reveals what Americans are now buying and the shifting priorities of shoppers during the lockdown. This figure contrasts sharply with the recent data for retail sales in U.S.A, including data of brick-and-mortar businesses. In March, sales declined by 8.7%, the biggest drop recorded since the government started monitoring sales data in 1992. The surge in online orders was initially driven by the demand for staples. As per retail analysts, there was a huge stockpiling in March, when states resorted to stay-at-home orders. Most in-demand items which are usually bought in bulk, were health products, home office equipment, and pet supplies. During the early stages of the pandemic, people piled up groceries and cleaning supplies.
From Basics to Books
Experts foresaw a panic-buying trend when the outbreak was new and unfamiliar to the people. Now that people had adjusted, they are focused on different needs as people have realized that things are edging to a new normalcy and are thinking beyond the basics of food and shelter. Comparing the fortnightly data during the 1st half of March prior to stay-at-home orders and during the 1st half of April, huge increases were seen in entertainment-related e-commerce as people look for ways to keep occupied during the quarantine. Book purchases went up by 777%, toys and games followed at 182%, sports equipment rose by 131%, while demand for home decor and health and beauty aids increased by 71% and 38% respectively.
Online shopping demand shifted to books and entertainment items and online spending on cleaning supplies and grocery items reduced by 25% in the 1st fortnight of April. This is low when compared to the 100% annual growth rate. The slowdown is that finding such essential items on the Internet is harder to find. Consumers are struggling financially with 36 million people filing for unemployment amidst the pandemic. Those who are able to afford, now reach beyond the basics to find ways to pass time. This trend towards self-improvement may continue in the next few months.
More in Luxury & Life Style
Ready to Buy Your First Luxury Car? Here are a Few Things You Must Keep in Mind before You Do
A luxury car does a lot for you, instantly makes you look better, boosts your self-confidence, and turns you into a...September 18, 2020
Celebrities Seem to Have Found the Perfect Work-Life Balance… Here’s Their Secret
When it comes to having a work-life balance, we all find it tough. Specially if we are single parents or moms,...September 17, 2020
Tiffany Haddish’s Enduring Battle for Survival is all the Motivation We Needed
Most fans are so engrossed in the tangled glamorous lives of their favourite celebrities that they forget that some of them...September 16, 2020
Meet Jude Law’s Wife Who uses Psychology to Tackle Climate Change
It’s been a few years since we have heard any news about Jude Law’s romantic relationships. If you remember, it caused...September 15, 2020
When Tough Times Hit US Businesses, the Tougher Ones Reinvent Themselves!
The vision that led top corporate founders to rapid growth helps them thrive during this Covid pandemic crisis. Building a fast-growth...September 14, 2020
Stop What You’re Doing and Watch These Top Beauty YouTubers for 2020
You watch them for the beauty and make-up tips. You watch them for their hilarious takes on current trends. But most...September 10, 2020
Jay Z and Beyoncé Officially Have the Best Car Collection We have Ever Seen!
The combined net worth of Jay-Z and his wife, Beyoncé is $1.25 billion enabling them to own one of the largest...September 9, 2020
Looking for Reasons to Not Follow Celebrities on Social Media? We’ll Give You Plenty
We’re obsessed with famous people now and more than ever. When we are not reading overly intrusive magazines about their perfect...September 8, 2020
Behold Azzam – The World’s Largest Superyacht
It’s rated as an engineering marvel and a masterpiece. Commissioned in 2013, the yacht cost around $605 million and at 590...September 7, 2020