FIRST ReportFacteus Insight Report on Spending and Transactions (FIRST) Gain Insight on Changes in Consumer Spending Transactions
The FIRST Report is a series of weekly reports that will shed light on the impact of the COVID-19 pandemic on the consumer economy in the US. We plan to look at three super categories of the consumer economy: Retail, Entertainment and Travel. Focusing on both sectors and individual merchants, we will provide insight into how consumers are being impacted and how they are reacting in this unprecedented time. Our intent is to help businesses, governments, and economists have a current, accurate view of the economy during the COVID-19 pandemic so that they can make informed and timely decisions.
The week ending April 4 shows a steady trend in spending compared to 2019, with a significant gain week over week for Movie Theater sales. This, paired with gains in Video Games, has the overall Entertainment segment growing 12% compared to 2019. Travel spending has dipped below the highwater mark of the past couple of weeks to an average decline of 25% across the various categories including a 7% week over week decline for Airlines and 13% decline week over week for Travel Bookings.
Consumer spending at retail stores, e-commerce and home supply warehouses continue to retreat from the highs at the end of March though still showing growth compared to 2019.
Movie Theater spending saw a big jump in week over week spending, with a 15-percentage point growth to a decline of 64% compared to 2019. Entertainment spending overall, and Restaurants in particular, are maintaining high levels of spending compared to 2019. Video Games are maintaining spend growth levels similar to those seen in early January.
Within the Travel Segment, Airline spending further retreated overall, but Alaska Airlines shows a continued recovery trend, potentially showing a divergence in the West coast-based airline. Lodging spending is maintaining below the growth line.