New polls on consumer responses to the coronavirus pandemic reveal that when it comes to fear, finances and boredom, generational stereotypes may not hold true.
Amplified by social media and other online platforms, some anecdotal narratives have suggested that millennials are relatively unconcerned about COVID-19—while others have depicted older people as the least worried.
But various rapid-response polls conducted in recent weeks show a more intricate patchwork of anxiety across age groups—whether it’s fear of being infected by the virus, taking a severe financial hit or simply fear of inactivity during a period of widespread lockdowns.
For instance, an ABC News/Ipsos poll of US adults fielded on March 18 and 19 found people across age groups saying they were worried about getting the coronavirus. Among 18- to 29-year-olds, 83% said they were worried about this, as did 75% of 30-to-49s, 79% of 50-to-64s and 82% of those 65 and older.
There was a similar pattern in polling from The Economist/YouGov (fielded March 15 to 17) in the proportion of US adults saying they were at least somewhat worried about getting the virus—55% of 18-to-29s, 62% of 30-to-44s, 56% of 45-to-64s and 52% of those 65 and older.
When it comes to the pandemic's effects on financial health, surveys found sharper variations among age groups, with concerns skewing younger. In an Elon University survey conducted on March 16 and 17, 80% of 25-to-44s said they were worried about their “personal financial situation,” vs. 78% of 18-to-24s, 74% of 45-to-64s and 62% of those 65 and older.
A survey from personal finance app Tally, conducted from March 11 to 13 by The Harris Poll, found 59% of millennials saying they had taken or planned to take steps to preserve cash due to the pandemic’s effects on the economy. The figures were markedly smaller among Gen Zers (44%), Gen Xers (47%) and boomers (35%).