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 9 shows modest gains for overall consumer spending compared to last week, with Retail and Travel showing positive gains. Grocery Stores & Supermarkets, Lodging, Travel Bookings and Video Games showed the biggest week over week improvements.
The week ending May 9 shows modest gains for overall consumer spending compared to last week, with Travel and Retail categories showing positive gains. Grocery Stores & Supermarkets, Lodging, Travel Bookings and Video Games showed the biggest week over week improvements.
Wholesale Clubs and Home Supply Warehouses continue showing growth compared to other retail categories. Both Amazon and Walmart saw acceleration in growth compared to 2019.
Across the Entertainment category, Video Games maintain a high growth rate, Restaurant spending levels are slipping, and Fast-Food Restaurants remain steady compared to 2019.
Airline spending continues to range between 20-30% lower than 2019. Lodging spending once again shows growth compared to 2019.