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 May 2 shows slight gains in Entertainment and declines for Retail and Travel compared to last week. Department Stores, Fast Food Restaurants, Lodging, and Video Games stand out as the only categories with week over week improvements.
Discount and Variety Stores reverted to slowing growth after last week’s uptick. Amazon experienced a more significant week over week slow in growth as Walmart settled into flat growth compared to 2019.
Entertainment spending categories, and Restaurants in particular, are maintaining high levels of spending compared to 2019.
Airline spending continues to range between 20-30% lower than 2019. Lodging spending shows a more apparent recovery, ranging closer to being flat compared to 2019.