- 47% either lost employment income or another adult in their household had lost employment income since March 13.
- Being unable to pay rent or mortgage on time was reported by 10.7% of adults, while another 3.2% reported they deferred payments.
- 38.7% of adults report that over the last four weeks, they delayed getting medical care because of the coronavirus pandemic
(U.S. Census Bureau Household Pulse Survey (n=74,000), May 20)
- What this means is that Americans are facing severe socio-economic impacts due to COVID-19.
- Over 39m Americans are now unemployed and the loss of income and mental health impacts of the pandemic are showing their faces.
- This has an effect on demand and purchasing behavior as seen by Americans delaying getting medical care during the pandemic.
- The less affluent are likely to be more affected, which could result in the non-premium segment of the market disproportionately affected.
- In contrast, Apple’s growing online presence, great post-COVID offline experience and significantly lower entry device price points with new iPhone SE 2020 (rumored $650 for the 12) positions it well for a great rest of year.