Americans Are Spending Like It’s 2019
After a two-year decline, consumers in America are spending at levels that rival those of 2019, right before the pandemic hit.
Gym memberships, child care, travel, meals out, concerts—demand is high. Americans are spending money on experiences at rates close to or above pre-Covid times. At the same time, companies that flourished during the pandemic boom, like Peloton and Instacart, are taking a hit. Pent-up demand, vaccinations and a milder form of the virus drives the trend.