NEW YORK — Hold onto your wallets — according to a new study of 2,000 respondents, half of Americans say getting the coronavirus vaccine is inspiring them to go all out this summer. In fact, they’re planning to spend an average of $1,700 just on vacations and 45 percent anticipate spending more money this year than the past two summers combined.
Conducted by OnePoll on behalf of Affirm, researchers also found that 48 percent think they’ve saved enough money over the course of the pandemic to spend guilt-free this summer, both on vacations (41%) and restaurants (38%) most frequently. In fact, respondents are even aiming to dine out at least four times a week this summer on average.
Other social events are also top of mind, so it’s not surprising that over half the poll (55%) want to revamp their wardrobe. Another two in five Americans can’t wait to hit the town and visit their favorite restaurants and bars for happy hour again. Twenty-two percent can’t wait to go to a live sporting event and 21 percent are itching to attend a concert.
Nearly nine in 10 singles (88%) plan to make the most of the dating scene by going out to more restaurants this summer. One in five plan on spending the most money on dates. However, many are also opting to host events at home, with 32 percent of respondents planning to spend the most on home upgrades. Another one in four are itching to celebrate their friends and family with parties.
Americans are hitting the road again this summer
Respondents have big vacation plans, too, like visiting family and friends (39%), going on weekend getaways (28%), and attending barbecues (28%). A quarter of the survey said they can’t wait to lounge on the beach again and another 25 percent also can’t wait to hit their local fairs and carnivals.
With all of this in mind however, 40 percent of Americans are worried they may spend irresponsibly.
“After such a tumultuous year, it’s no surprise that consumers are ready to splurge this summer,” says Silvija Martincevic, Chief Commercial Officer at Affirm, in a statement. “But while many are feeling confident that they’ve saved enough to do so, 44% of respondents are worried about getting too excited and racking up credit card debt.”
Of those polled, 41 percent said they’d consider using a “buy-now, pay-later” solution to help them manage their summer spending, with clothing (30%), home upgrades (27%), travel (26%), and live events (21%) topping the list of popular shopping categories.
TOP ACTIVITIES AMERICANS ARE LOOKING FORWARD TO THIS SUMMER
- Vacations – 43%
- Going out to restaurants, bars, happy hours, etc. –39%
- Hosting friends and family at home – 30%
- Attending a sports game – 22%
- Attending a concert – 21%
- Going on dates – 21%
- Graduation/birthday parties – 20%
TOP THINGS AMERICANS PUT OFF LAST SUMMER AND ARE LOOKING FORWARD TO
- Visiting friends/family – 39%
- Going on vacation – 35%
- Going out to eat at restaurants – 34%
- Weekend getaways – 28%
- Barbeques/cook outs – 28%
- Going to concerts/events – 26%
- Going to fairs/carnivals – 25%
- Beach days – 25%
- Going out to bars – 21%
- Pool parties – 21%
- Graduation/birthday parties – 21%
- Boozy brunch – 14%