As Covid-19 continues to spread and the human toll mounts, Americans are becoming increasingly concerned about the financial and health effects of the pandemic.
The most recent Bain/Dynata survey of US consumers, conducted March 16–19, finds that 84% of respondents are moderately or highly concerned about the health consequences of the outbreak—an 11-percentage-point increase over the prior week. The same survey found that 87% are similarly worried about the impact on their finances, a jump of 14 percentage points.
Nearly 90% of respondents indicated that they are taking at least one action in response to the crisis, including reducing their use of public spaces (50% within the past week), buying emergency food and supplies (44%) and purchasing hand sanitizer or masks (33%).
The global Covid-19 pandemic has extracted a terrible human toll and spurred sweeping changes in the world economy. Across industries, executives have begun reassessing their strategies and repositioning their companies to thrive now and in the world beyond coronavirus.
Karen Harris is managing director of Bain & Company's Macro Trends Group and is based in the firm's New York office.
Dynata provides first-party data for the Bain Consumer Health Index, including a nationally representative weekly sample of US adults that served as the underlying data for this analysis.