Products & services people spend more on due to the COVID-19 pandemic 2020
Due to the coronavirus pandemic, health and hygiene products lie at the top of the shopping list among consumers aged 18 and older in the U.S., as of May 28. Medicines, hand sanitizers and toilet papers are flying off the shelves as respondents are spending way more than usual on these kinds of products. Other popular items include household cleaning supplies, food & drinks and home entertainment products.
Who is stockpiling food due to COVID-19?
More consumers in China stockpiled food than in any other country worldwide due to the COVID-19 pandemic, as of March 2020. Consumers from the United States rank fourth in this list as most of respondents surveyed in this country bought food items to stockpile for a couple of weeks. This kind of consumer behavior caused food and supply shortages in local grocery stores in various countries around the globe as shoppers didn’t want to run short of food supplies during the pandemic-induced self-isolation period.
Effect of coronavirus on tourism industry
With COVID-19 having spread across 6 continents across the globe, many countries have introduced travel bans and curfews to contain the spread of this disease. These restrictions have almost brought the tourism industry to its knees which is predicted to lose over 75 million jobs in 2020. Most of these jobs will be lost in the Asia-Pacific region where Indonesia is expected to see the highest decline of tourist arrivals. European countries are predicted to lose over US$80 billion in revenue from the travel and tourism industry in 2020, as passengers are forced to stay at home for the near future.
Who is stockpiling food due to COVID-19?
More consumers in China stockpiled food than in any other country worldwide due to the COVID-19 pandemic, as of March 2020. Consumers from the United States rank fourth in this list as most of respondents surveyed in this country bought food items to stockpile for a couple of weeks. This kind of consumer behavior caused food and supply shortages in local grocery stores in various countries around the globe as shoppers didn’t want to run short of food supplies during the pandemic-induced self-isolation period.
Effect of coronavirus on tourism industry
With COVID-19 having spread across 6 continents across the globe, many countries have introduced travel bans and curfews to contain the spread of this disease. These restrictions have almost brought the tourism industry to its knees which is predicted to lose over 75 million jobs in 2020. Most of these jobs will be lost in the Asia-Pacific region where Indonesia is expected to see the highest decline of tourist arrivals. European countries are predicted to lose over US$80 billion in revenue from the travel and tourism industry in 2020, as passengers are forced to stay at home for the near future.
