A new survey has found that Americans just can’t wait to spend their money when the country starts to reopen. CompareCards surveyed 1,000 Americans and discovered a pent-up urge to spend.
More than a quarter of respondents will be hitting their favorite restaurants as soon as restrictions lift. About 15% will be traveling to visit family, and nearly as many will go for haircuts or manicures — an indulgence some haven’t exactly avoided during the lockdown.
And they’ll have the dough to do it. While staying home and avoiding the malls, Americans estimate that they have saved some $330.
Bigger indulgences are in the offing as well. Among those surveyed, 20% are planning vacations, 10% are looking at pricey home repairs and some 14% of Gen-Z respondents anticipate purchasing new cars.
Matt Schulz, chief industry analyst for CompareCards, is not surprised.
“I think there is going to be an absolute explosion of spending once this outbreak is behind us,” he says in a statement. “The desire to spend is going to be massive.”
Some New Yorkers have already begun to blow the big bucks. Stuck-at-home high rollers have used shopping as a pricey diversion. Feeling indulgent, they’ve loaded up on high-end cheeses, CBD chocolates and top-shelf booze.
“Shopping takes your mind away from the harshness of everyday life,” Carrie Rattle, a financial counselor in Westchester, tells The Post. “Shopping is self soothing.”
Jackson Isaacson, a 27-year-old marketer, would agree. “I bought an area rug, a coffee table, prints for the walls, a mirror and plants,” he says,West Elm … I love it.”
One thing that hasn’t changed: Only 4% of those surveyed by CompareCards plan on getting gym memberships.