If there’s one word that best describes consumer behavior during COVID-19, it’s bizarre. We’ve seen panic buying, out-of-character purchases and even hoarding.
The most notorious being the toilet paper shortage in the spring, in which nearly half of U.S. stores were out of stock on a given day — the pandemic quickly overturned typical consumer market demand.1 As the pandemic continues, circumstances have led Americans to allocate their budgets toward some very different items.
1. Roller Skates
With many people searching for ways to stay active and get outside, roller skating has made a comeback. Google searches for “roller skates” reached peak popularity in May, and have remained at a steady high ever since.2
Why Are We Buying Roller Skates?
A sport previously popular in the ‘70s and ‘90s, many adolescents have discovered a newfound love for the hobby, greatly influenced by online roller skating displays from prominent social media influencers. With popular roller skate manufacturing companies continuing to prosper, the new era of roller skating may last for even longer yet.
Americans have been itching to travel since initial travel restrictions were imposed, and it’s probable that frequent international travel—especially for leisure—won’t resume to normal in the foreseeable future. Amidst COVID-19, the vast majority of people view camping as the safest way to travel.3
Why Are RVs Gaining Popularity?
In efforts to experience travel as it should be, many travelers have opted to purchase RVs, essentially saving the crashing RV industry. With the outdoors remaining the safest place to both socialize and travel, American travel culture is quickly shifting, and RVs will maintain their popularity throughout this shift.
The “quarantine pet” phenomenon holds true. A surprising 33 percent of Americans have considered adopting a pet due to COVID-19.4 Adoptions of pets, particularly dogs, have surged in response.
Why Are Pets Gaining Popularity?
People are likely turning to pet adoption due to the isolation associated with the pandemic reality. With social distancing, many are struggling with feelings of loneliness and despair. Pets, and dogs in particular, make great companions, especially during troubling periods.
Bars, clubs and restaurants are a much different experience among the backdrop of a pandemic — so it’s no surprise that people are opting to bring the party home instead of going out. Spirit sales have risen 32.7 percent throughout the course of COVID-19, with tequila being the most popular purchase.5
While alcohol sales may not skyrocket as much as they did at the beginning of the pandemic, it’s probable that Americans are going to be buying more alcohol than usual for a while. Despite lightened restrictions, most places have reduced capacity and strict regulations. In all likeliness, house parties will continue to be the norm for the foreseeable future.
COVID-19 has brought about an entirely new nuance of product consumption. As we continue to fight the pandemic, many of these surfacing trends will continue and many others will likely arise. If you have anything that you are purchasing more often feel free to share.
This content is developed from sources believed to be providing accurate information, and provided by Twenty Over Ten. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.