Here’s How People Spent Their $1200 Stimulus Money
There is no question that the $1200 United States Stimulus payment came in very handy. Many people I know used the funds for some basic necessities like rent, getting food, making car or credit card payments, etc.
But according to marketwatch, during a earnings call the CEO of Walmart Doug McMillon eluded to some spending data during that time that indicates that people were also buying a lot of electronics, like TVs, Gaming Systems, as well as clothes and toys. Walmart specifically saw a spike in adult-sized bikes.
The Walmart CEO went on to say “Adult bicycles started selling out, as parents started to join the kids. An overlapping trend then started emerging related to DIY and home-related activities.”
The buying trends for people seemed to change as the pandemic evolved. At first everything was necessity based with people hoarding everything from toilet paper to hand sanitizer to canned pasta meals. Once people felt comfortable that they could food shop and make that work on some level hoarding all and anything you could get your hands on started to level off. Stores starting seeing people shift in their purchases. All of a sudden outdoor items started to spike as people were working in their yards. Then outdoor recreational items started spiking as people could start going out in limited fashion. Next came a rise in sewing machines and fabric as people were realizing the need to have masks for the near future.
Now with the HEROS Act being passed in the house there is a chance that another round of money may be coming peoples way. So the questions is...what will the next trending purchases be? Only time will tell.
By the way, in case you're wondering what I bought...well, I paid down some bills and bought another chainsaw.
What did you buy?