Consumer Behavior

Consumer stimulus monies spend goes beyond essential needs

Photo by istock.com

May 26, 2020

Consumers are spending the stimulus monies provided by the federal government due to the economic fallout from COVID-19 on non-essential items and retailers are benefiting.

While many have used funds to cover basic living costs including food and rent, they're also grabbing up clothes, toys and electronics, according to a Market Watch report citing retailer insights on what consumers are buying during the coronavirus pandemic.

Walmart and Target report increased consumer demand for goods in mid-April including gaming devices, clothing and TVs, and even bikes and sewing machines.