Home 2020 What People are Buying as They Need Coronavirus Stay-at-Home Orders

What People are Buying as They Need Coronavirus Stay-at-Home Orders

  • As the coronavirus flows and ebbs in the US The People are buying things based on 3 needs: to protect and prevent, entertainment and connect connection.
  • Sales of board games have jumped in the last month too.
  • Consumers are finely spending money on preventive supplies and Real food, they are learning how to cook and bake again.

In the few months since the US confirmed its 1st case of COVID-19 coronavirus, consumer habits have shifted. 

Hand sanitizer, medical masks, gloves, water and some paper products have flown off of shelves in the US, as more people looked to protect themselves and prepare for long stints isolated in their homes. But, those are not the only items that consumers are spending money on in stores and online.

In addition to medical supplies, such as cold medicine, thermometers and tissues, and items for the pantry, such as glass bottled food and water.

Plus people have begun spending money for family entertainment, board games, puzzles and video games have become popular items.

According to a consumer psychologist, people are currently purchasing items based on 3 needs: to protect, to entertain and to connect.

First of all there are our practical needs,” she said. “We are home more, so we need more food and we need more provisions.”

Canned goods, bottles of water, frozen food, rice and pasta have been cleaned off shelves in recent weeks and grocery stores have had to work quickly to replenish supplies. 

She said that the hoarding of food items makes sense psychologically. As humans feel threatened or anxious, our 1st instinct is to gain some control over the situation, that means PPP, aka prepare, protect and prevent.

Have a healthy weekend, Keep the Faith!

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S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.