Despite toilet paper hoarding and panic buying, overall consumer spending has sharply declined since the COVID-19 pandemic started, with retail sales dropping an unprecedented 8.7% in March.
Stay-at-home orders also have caused many people to change the way they shop for the things they need.
Sabrina Helm, associate professor in the Norton School of Family and Consumer Sciences in the College of Agriculture and Life Sciences at the University of Arizona, describes current trends in consumer spending, online shopping, and stockpiling and what they might mean for the future of retail:
The post Consumer spending is down. Will we continue to buy less stuff? appeared first on Futurity.
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