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 18 shows average consumer spending across categories flat compared to 2019, with continued gains week over week for the Travel categories. All Travel categories except Cruise Lines saw improvements in spending growth compared to 2019 with an average decline of 9% compared to 17% the week before. The big surges in spending seen in March in the Retail and Entertainment categories is dissipating with both showing slower growth compared to the previous week.
Consumer spending at retail stores, e-commerce and home supply warehouses stayed flat or showed small declines week over week except for Wholesale Clubs.
Entertainment spending, and Restaurants in particular, are maintaining high levels of spending compared to 2019. Video Games saw a dip in spend growth after several weeks of elevated levels.
Airline spending continues its recovery for both Alaska Airlines and United Airlines in line with the overall category. Lodging spending has crossed the line to showing growth compared to 2019 for the overall category and Holiday Inn specifically is now showing growth compared to 2019.