My Authors
Read all threads
The coronavirus outbreak has transformed life in America — including the way people spend their money.

These charts show how, in a matter of weeks, pillars of American industry essentially ground to a halt while others boomed. nyti.ms/2RtuxYE
We analyzed data from Earnest Research, which tracks and analyzes credit card and debit card purchases of nearly 6 million people in the U.S. Cash transactions aren't included, but the data provides a strong snapshot of the economic impact of the coronavirus.
People have flocked to grocery stores in the U.S.: In a 7-day period that ended on March 18, sales were up 79% from 2019.

Sales have fallen since, but are still higher than normal. Online grocery delivery services and meal kit companies are among the biggest winners.
Spending on airlines, hotels, cruises and rental cars in the U.S. all but stopped as stay-at-home orders were put in place — and it's only getting worse. Travel sector revenues for the week ending on April 1 were down 85% from the same time a year earlier. nyti.ms/2RtuxYE
In previous downturns, the amount people spent at restaurants was relatively stable.

Not this time.

Now, fine dining, casual dining and fast food have all been hit in the U.S. Meanwhile, many delivery services have seen sales surge. nyti.ms/2RtuxYE
Many of our favorite diversions are simply off limits for now. Movie theaters are shuttered. Theme parks are closed. Clubs and concert halls have all gone quiet. nyti.ms/2RtuxYE
But spending on video gaming companies like Twitch and Nintendo is booming. Streaming services, such as Netflix and Spotify, are also seeing gains. nyti.ms/2RtuxYE
Even before the coronavirus, the retail industry was reeling as people gravitated toward e-commerce and discount brands.

The current crisis has made things that much worse. nyti.ms/2RtuxYE
For many, working from home has meant an end to commuting — and a decline in spending on transportation.

For scooter sharing companies like Lime and Bird, which were booming, it could be a potentially business-ending blow. nyti.ms/2RtuxYE
The pandemic has also led many to spend less on health: No one is going to the gym these days.

But spending is even down broadly across the health care industry for now. nyti.ms/2RtuxYE
“This is the sharpest decline in consumer spending that we have ever seen,” one economist said.

See our full analysis of how, as the coronavirus spread, people across America have simply stopped spending at many businesses altogether. nyti.ms/2RtuxYE
Missing some Tweet in this thread? You can try to force a refresh.

Enjoying this thread?

Keep Current with The New York Times

Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!