In the event that the Coronavirus gets worse in the United States, 58 percent of consumers say they will probably steer clear of entertainment venues and shopping centers, per a survey from Coresight Research. Approximately 27.5 percent of respondents said they were already starting to curtail visits to public areas, CNBC reported.
Coresight Founder Deborah Weinswig said, per reports, “Among those likely to change habits if the outbreak worsens, around three-quarters expect to avoid shopping centers [and] malls – making this the most-avoided type of location. Shoppers say they will continue to avoid malls more than shops in general.”
Almost nine out of 10 respondents who are age 60 or older say they are likely to avoid public places, and foresee cutting trips to the mall if the outbreak gets more severe. An International Council of Shopping Centers (ICSC) spokesperson said, per the report, “At this time, ICSC, as well as our members, are following the guidance of the CDC and will implement changes as recommended.”
In addition to malls, the survey found that consumers will probably start to keep away from movie theatres, sporting events, restaurants and other entertainment facilities. Older consumers seem to be more apt to not leave the house if the Coronavirus worsens.
The news comes amid reports on Wednesday (Feb. 26) that the U.S. stock market was spiraling downward, with the S&P 500 losing $1.737 trillion over a large sell-off caused by growing fears of the Coronavirus. The Dow Jones industrial average tanked 879 points on Tuesday (Feb. 25) as investors became worried about news that the virus was spreading.
Many firms – including Nike, United Airlines, Mastercard and Hasbro – have said they think the virus will have a negative effect on corporate earnings. Apple said it won’t hit projected earnings. And American hotels and airlines are widening options for clients to make new travel plans as the Coronavirus spreads outside of China.