Effect of COVID-19 on consumer spending on American goods as of March 2020

As of March 2020, 64 percent of consumers in the United States didn't expect that the coronavirus pandemic would change the amount of money that they typically spent on American goods. However, almost a quarter (24 percent) expected that they would spend more on goods made in the USA.

The United States responds to the virus spreading

In an attempt to slow the spread of the virus, many states have now begun to temporarily close schools, bars, restaurants, and movie theaters, ban large public gatherings, and encourage workers to work from home. As a growing amount of people feel increasing concern, behavior seems to be changing. People are less likely to go to public spaces such as shopping malls, and are spending more at wholesale club retailers.

Potential effects of COVID-19

Social and economic impacts are already felt by many as day-to-day life slows to a stop in numerous places around the world during work-from-home initiatives and quarantines. International trade, international travel, and the global economy have been struck by flight cancellations, postponement of public events, and falling stocks. Individuals are increasingly fearful that the outbreak will personally affect their financial stability.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.