Americans Are Spending $178.44 on Supplies Related to the Coronavirus Outbreak
- 63% of Americans purchased supplies in preparation of the coronavirus (as of
March 13, 2020)
- The average consumer spent
$178.44on supplies, ranging from food and alcohol to medication and cleaning products
- The most popular pandemic purchases among those who stockpiled are cleaning products, food, and paper products such as toilet paper
- Parents of children under 18 spent
$189.80on supplies, which is more than $11above the average
- Higher earners, those earning
$100,00or more, spent an average $219.90on supplies
Many card issuers have programs to offer temporary relief to cardholders who are hit hard by disasters, and the coronavirus outbreak certainly fits that bill. Banks' offerings will vary, but they can include: temporary APR reductions, waived late fees, extended payment deadlines, credit limit increases and more. In times of crisis, these changes can make a real difference, so it's undoubtedly worth your time to make the call if your financial life has been upended.
Obviously, everyone's primary focus should be on protecting your health and that of those around you. However, if you're healthy and wondering what to do while social distancing, consider using this time at home to dive into your finances. This could be a good time to make that first budget, check your online statements, request your credit reports or even just learn something new about money."
To view the full report, visit https://www.lendingtree.com/personal/stockpiling-coronavirus-pandemic-survey/
LendingTree commissioned Qualtrics to conduct an online survey of 1,050 Americans, including 664 who purchased supplies as of
We defined generations as the following ages in 2020:
- Gen Z: 18-23
- Millennials: 24-39
- Gen X: 40-54
- Baby boomers: 55-74
- Silent Generation: 75 and older
Members of the Silent Generation (ages 75 and older) were also surveyed, and their responses are reflected in the overall percentages among all respondents. However, they were excluded from the generational breakdown due to the low sample size within that demographic.
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