The K-Shaped Holidays: The Affluent Are Spending More As The Poor Cut Back

Low-paid service workers were the most likely to see their jobs cut during the pandemic. That lopsided economic blow has created something of a K-shaped economy, where the poor are worse off while the affluent, in many cases, are seeing their net worths increase thanks to a record stock market. But is the uneven COVID-19 economy translating into a divided holiday season? To find out, Fortune and Civis Analytics teamed up to survey 10,063 adults in the U.S. between September 11 and November 9.* As a whole, holiday spending should look a lot like 2019. Among all U.S. adults, 29% say they plan to spend more on holiday shopping this year, 30% plan to spend less, and 41% plan to spend about the same as they did last year. Read more at Fortune.