51% of US consumers are spending less than usual in the wake of COVID-19, according to a new Gallup poll. However, Gallup found that one difference between now and Great Recession, is that more people who are spending less think this is a temporary change in spending patterns.47% of Americans surveyed said they expect their reduced spending habits to be temporary–compared to 33% who said the same in 2010.
“But whether their spending can return to prior levels depends on the extent to which businesses can accommodate demand while observing social distancing requirements likely to be in place for the foreseeable future,” per Gallup.
Source: Gallup, May 2020