in Q4 and beyond. Lockdown measures led consumers to cancel vacations, stop visiting restaurants, and reduce in-person shopping, which in turn produced But with that drop in consumer spending came an increase in savings. About 28% of respondents to the OpenX and The Harris Poll survey said they saved money during the pandemic. And many of those who saved are ready to spend again—more than half of those respondents said they expected to increase their discretionary spending in Q4 or next year.
Consumers overall appear optimistic about 2021, with 36% of respondents reporting plans to spend more in 2021 than they did in 2020. These general attitudes have persisted since the study was conducted in July: US consumer confidence surged in September to the highest it's been since April, Want to read more stories like this one? Here's how you can gain access:
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