New York —
People started buying more of these things as they received the support money.
Joe Raedle / .
Although many people are using the stimulus check to cover their basic needs, such as food, mortgage or rent, there are a good number of people who are spending on other things that are slightly less necessary, such as electronic items, clothing and toys, according to MSN information.
“Let’s call it relief spending, since it was heavily influenced by the stimulus dollars, which led to sales increases in categories like clothing, televisions, video games, sporting goods and toys“Said Walmart CEO Doug McMillon.
Both Walmart and Target saw an increase in consumer demand in mid-April, as the $ 2.2 billion in stimulus payments were falling into the bank accounts of citizens.
It should be noted that Apple also saw an increase in demand for its products overall.
At Walmart and Target, customers bought more televisions, electronics, video games, and clothing, although Walmart also noted increased demand for adult bikes.
Consumers also bought more sewing machines and scarves to make your own mouth masks.
It is estimated that, within 10 days of receiving the stimulus check, people spent anywhere from a quarter to a third of the money.
On the other hand, Target CEO Brian Cornell said people are shopping in all categories, including clothing, which had been especially affected by the economic downturn caused by the coronavirus.
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