Only 24% of Americans plan to spend more on their cell phone this year due to the COVID-19 pandemic, according to the “2021 iPhone Survey” by personal website WalletHub.
WalletHub’s survey examined not only how the COVID-19 pandemic has impacted Americans’ cell phone purchase plans, but also why people buy new phones, how essential phones are and more. Here are some of the key findings from the report:
- iPhone demand is still high: Despite high unemployment, 1 in 3 people plan on getting the new iPhone this year.
- MVP – most valuable possession: Almost 2 in 5 Americans say that their phone is their most important belonging during the pandemic.
- iPhones and debt: Nearly 1 in 5 people think that the new iPhone is worth going into debt for.
- Few people judge not upgrading: 15% of people think that not having the new iPhone is a sign someone is struggling financially.
- Discontent with credit checks: 45% of consumers don’t think it’s fair that cell phone carriers check your credit score.
By the way, WalletHub makes a Cell Phone Savings Calculator. It’s designed to help you decide whether you should buy a phone upfront or pay in installments.
