COVID-19 is changing human history. However, it arrived on the heels of another crisis—fake news. We examine how fake news influences consumers’ spending intentions in response to COVID-19. Across three studies we find that concerns about COVID-19 engender uncertainty, and that exposure to fake news amplifies this effect. This uncertainty increases consumers’ tendency towards two competing goals: compensatory consumption and resource conservation. We present three studies in which we measure consumers’ general preferences (study 1), their specific preferences with respect to buying food at a restaurant (study 2), and their choices when selecting from a meal delivery service (study 3). Our findings have important implications for both marketing practitioners and policy makers, which we discuss throughout.
