The second full week of August was the fifth of eight non-holiday weeks between Independence Day and Labor Day, in which everyday demand alone drives sales. Consumer concern over the COVID-19 pandemic remained highly elevated and several severe weather events rendered hundreds of thousands of households along the Eastern seaboard and Midwest without power.
Additionally, economic pressure is being compounded by the delay over the extension of unemployment benefits and uncertainty over a second round of stimulus payments. IRI primary shopper research released August 11 found that that if Americans were to receive a second stimulus check from the U.S. government, they would be more likely to spend it on meat than other food and beverages. In all, 21% of consumers said they would buy more meat, 20% more produce and 7% would purchase restaurant meals more often. To the contrary, IRI also asked how the loss of a weekly unemployment benefit of $600 might affect shopping behavior. The top answer among current beneficiaries of the benefit was buy less meat at 35%, followed by buy fewer fresh fruits and vegetables at 29%, buy fewer premium products at 24%, switch more purchases to store brands vs. national brands at 19%, and buy fewer convenient meals to instead cook from scratch at 18%.