Recent analysis from the Bank of America Institute found that consumers are spending more on their hobbies like arts and crafts and outdoor recreation.
For one weekend a year, the shores of Lake Erie in Conneaut, Ohio turn into the beaches of Normandy on D-Day in 1944. It’s the largest WWII reenactment in the U.S., and costs hardly anything to put on.
According to the latest Census report, sales at sporting goods, hobby, musical instrument, and book stores were up 11.3% in May from the same time a year ago.
During the pandemic, people spent money on stuff. Then, they spent money on experiences. Now, it seems they’re spending money on things that help them connect.