While millions of Americans have received at least one vaccine shot, and research reports that nearly 50% of the population is fully vaccinated, the future looks brighter—Americans are returning to their pre-pandemic pastimes: eating out, flying, planning vacations and buying swimsuits.
A return to a more normal life is the focus for consumers after being on lockdown since mid-March. Before the pandemic, consumer spending was at 14% 1Q 2019 In 2020 of and beginning of this year, consumer spending increased up by 9% from 2019.
On Tuesday, a new Axios/Ipsos poll, found that more than 55% of Americans reported seeing family or friends in the last week. Some 45% reported going out to eat in the last week, while 37% said they visited a park, beach, other outdoor sites while travel and entertainment remain significantly lower. However, data show an uptick in Travel and Entertainment spending, up more than 50% in March compared to February.
During the pandemic lockdown, consumer spending consisted of big ticket items such as furniture, cars and essential items such as groceries. However, retailers are seeing a shift in consumer buying trend on items like jeans, fancier shoes, and swimsuits. Similar findings with the weekly Forbes-Ipsos Confidence Tracker shows last week, 56% Americans are eager to reopen the economy, even if the Covid-19 virus is not yet fully contained showing up to 4% points from last week.
Since more than a year ago of masks, school and business closures, consumers have plenty of money and desire to spend It. With the Covid-19 rapidly reaching the arms of Americans; about 50% of the population, Americans are returning to old buying trends and behaviors.