Consumer spending was up in May, but as new coronavirus cases surge businesses are continuing to adapt to changes brought on by this pandemic. We’re is stretching your dollar with how the changes can save you money longterm.
From small companies to big-box corporations, the coronavirus delivered a blow to businesses across the U.S., but they’re adapting. Consumer spending went up more than eight percent Companies are evolving in an effort to lift sales in the age of COVID-19.
Strategies like curbside pickup have exploded in popularity in the past few months. But the concept is easier for retailers that operate free-standing stores and have space to provide the service.
It’s not so easy for America’s enclosed malls, especially for tenants who don’t have a door leading outdoors. Other businesses making different changes, like contactless delivery.
Some stores are offering special hours for older shoppers. Costco stopped selling their half-sheet cakes that serve about 50 — now only offering smaller cakes. It’s the small changes businesses hope can help them stay afloat.
Experts say consumer’s habits may change long-term after this but it could be good for your wallet. Curbside pickup keeps you from splurging on other items, cooking from home and exercising outside or with your own equipment are all healthy saving habits that could be a silver lining during a tough economic period.