COVID-19: THE IMPACT ON CONSUMERS’ WALLETS

C+R Research recently surveyed 2,040 consumers and asked them how COVID-19 has affected their budget, shopping habits, and diets.

If you’ve noticed higher prices at the checkout aisle since COVID-19, you’re not alone. Americans across the country have been paying more for staples such as meat, eggs, and poultry as well as everyday household goods. Grocery prices skyrocketed beginning in March and still haven’t fallen to pre-pandemic levels.

In order to find out how Americans have been adjusting to higher prices, we surveyed 2,040 consumers and asked them how COVID-19 has affected their budget, shopping habits, and diets.

Shoppers See Higher Prices During The Pandemic

Since the pandemic, the majority (85%) of American consumers say they’ve been paying more for groceries. Among grocery items shopped for, meat, eggs, and milk were among the top three items that Americans say they’ve been paying more for since COVID-19.

Beef and eggs are also among the top food items that have seen the greatest price increases since the pandemic. According to the Bureau of Economic Analysis (BEA), beef prices are 10.3% higher than they were in February of this year, while poultry is 6.3% higher and eggs are 5.9% higher.

Food isn’t the only thing that’s been hitting the pocketbooks of Americans; three quarters (75%) of Americans say they have been paying more for household goods. This sentiment aligns with household items such as paper supplies, appliances, and cleaning products, which are all priced higher since the pandemic, according to the Bureau of Economic Analysis (BEA).

Along with higher prices, consumers say they’re still experiencing shortages for certain items. For products they normally purchase, most (83%) say they are still having difficulty finding groceries and over three-quarters (78%) are still having trouble finding household goods.
 

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