Consumer Behavior

Most Americans struggling financially, claims survey

Photo by istock.com

October 19, 2020

As if the coronavirus and shaky economy isn't enough to worry retailers, now they're facing the fact that 70% of Americans are struggling to make ends meet.

That's driving 47% of those Americans to work more hours or pick up a second job, according to a Harris Poll commissioned by DailyPay which polled over 2,000 U.S. adults.

The survey revealed 22% of Americans are working extra hours and 18% are taking on a seasonal job. Yet despite high unemployment and continued outbreaks of COVID-19, more than half, 54%, are hopeful the economy will improve by the end of this year.

The optimistic outlook includes holiday shopping plans as the survey found 41% plan to spend the same amount in-store for holiday purchases as they did last holiday season, and 11% plan to spend even more.

In terms of online shopping 28% of Americans plan to spend more online for holiday purchases than last year, compared to 26% who plan to spend less than they did last year.