Commentary

Staycations, Finances -- How Millions Of Consumers Perceive COVID-19

Despite the changes the COVID-19 lockdown has created, 32% of people worldwide participating in a recent survey plan to be more optimistic about the future and 18% plan to be more environmentally conscious.

The travel sector remains a challenge, along with routine healthcare visits for regular checkups, although many doctors and dentists are taking extraordinary measures to keep patients safe.

The biweekly Toluna and Harris Interactive COVID-19 Barometer taps a community panel of more than 30 million members to provide information on global perceptions regarding COVID-19.

The latest research, which surveyed 1,055 Americans, found that 34% of Americans have avoided seeing their doctor during the pandemic due to fear of catching COVID-19.

Fifty-four percent of Americans are worried about a second wave, the research found, and 40% believe personal health will become a bigger concern as a result of the pandemic.

COVID-19 has also forced many U.S. and UK residents to rethink their finances and save money “for a rainy day” to prepare for unexpected events, as forty-five percent of UK residents pointed to lockdown measures introduced to slow the spread of the disease.

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Thirty-four percent of Americans are looking to review their savings, while about 22% want to review their investments, 17% want to re-examine their insurance policies, and 16% want to re-evaluate where to bank.

To better prepare for future downturns:

  • 24% of Americans plan to put more into savings
  • 36% plan to get better at budgeting
  • 29% plan to pay off their debts post-COVID

Americans have become more comfortable with staycations than traveling overseas. In the next two months:

  • 16% plan to take staycations
  • 7% plan to book a holiday overseas

Americans are cautious about spending a lot of money in the near future, but do feel more optimistic and environmentally conscious. In the next two months:

  • 14% of consumers will buy something of significant value
  • 16% of respondents do plan to spend more money generally but not in restaurants, bars or at live sporting events
  • 34% say they’re going to eat out in restaurants less
  • 24% say they’ll go to bars/clubs less often
  • 21% plan to not attend live sporting events as much
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