33% Of Paycheck-to-Paycheck Consumers Won’t Shop More at Physical Stores Until the Pandemic Ends

While the greatest share of all consumers say health-related issues are their top reason for concern about COVID-19, consumers who live paycheck to paycheck with difficulty are more likely than others to say the financial impact is their greatest concern about the pandemic.

Thirty-two percent of those consumers say financial issues are their top reason for concern about COVID-19, according to Reality Check: The Paycheck-To-Paycheck Report, a PYMNTS and LendingClub collaboration.

By comparison, 29% of consumers who live paycheck to paycheck but are comfortable, and 25% of those who don’t live paycheck to paycheck, say financial worries are their top concern.

The latter two groups are more concerned about the social effects of the pandemic.

More than half of paycheck-to-paycheck consumers also said the possibility of another outbreak and lockdown is a concern. Other key issues include avoiding spreading the virus, losing social contact and risk of death; more than a third of the consumers living paycheck to paycheck saying those are reasons for concern about COVID-19.

When the crisis finally passes, many of these consumers expect to shop more — both online and in stores. Among consumers living paycheck to paycheck, about one-third say they will buy in-store more often than they did before the pandemic, about a quarter say they will buy online with home delivery more often,  and about a one-fifth say they will buy online with curbside and in-store pickup.

These findings indicate that the end of the pandemic will greatly boost consumer confidence and encourage many shoppers to shop more, both in-person and online.