Report: Financial Health Is Bigger COVID-19 Worry Than Physical Health

Market research company Resonate is out with a new study that finds that most respondents to a survey (80%) are more concerned about their financial health versus their physical health.

Almost everyone is worried to some degree about a recession.

The Reston, VA-based firm conducted a survey in March of 5,000 U.S. consumers to get a read on changing consumer sentiment and behavior during the pandemic.

More than 60% say they are spending less during the crisis, while 55% say they’re more likely to purchase products online in the next 90 days with 41% being more likely to purchase groceries online.

Two-thirds of those polled think it will take at least until the fall for their travel activities to return to normal — with 26% expecting it won’t be until 2021 or later.

About 45% said they didn’t believe the federal government was doing an effective job of managing the crisis.

Some 34% said it would take between four to six months for their lives to largely return to “normal.” And another 31% estimated it would take two to three months to get back to normalcy.

There is more key information in the study, for which the company said it would normally charge. But given the gravity of the pandemic, it is offered for free. Access the study here.




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