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As Businesses Reopen, Many Americans Plan to Spend Less
More than 40% of adults say they’ll cut back on some of the very discretionary spending needed by struggling retailers.
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The novel coronavirus—which has infected almost three million people and killed more than 130,000 in the U.S. alone—has roiled the economy and brought many aspects of American social life to a halt. With many states reopening despite the recommendations of public health experts, new data show consumers may not be prepared to return to pre-pandemic spending levels.
More than 40% of people who spent money on movies, event tickets or at bars before the pandemic now plan to spend less on those activities, according to a new survey for CreditCards.com.