Study results show Americans are spending less time and more money on purchases

(InvestigateTV) – NerdWallet reported that online shopping has grown 470% in the last 20 years.

NerdWallet’s Elizabeth Renter reviewed data from the American Time Use Survey, which tracks how Americans spend time on a given day.

Renter noted that the percentage of people shopping has declined over the past 20 years and less time is spent shopping. But that doesn’t mean that less is spent.

“The census data, looking specifically at online shopping, shows that we are spending a lot more money,” she noted. “Over that 20-year period, spending in the category, which includes online shopping, increased from about $17 billion per quarter to $99 billion per quarter, adjusted for inflation.”

Tenants said convenience is great, but if people feel remorse after all that late-night couch scrolling and shopping, there are things they can do to help themselves.

“When you look at your credit card balance and say, ‘Oh my God, what did I buy this month?’ It might be time to take a step back and think about what you can do to make it a little less easy to spend that money,” Renter said. “So reintroduce some of the obstacles that shopping locally introduced. You may have to plan a waiting time.”

She said before you click “Buy” to check out online, leave the item in your cart for 24 hours and then come back. People may change their minds or realize they don’t need it or can wait for a sale.

Another option is to use wish lists instead of adding items directly to the shopping cart.

She also said stores that are open on certain days and times may only shop at certain times of the day and on certain days of the week.

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