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 16 shows marginal improvements in Travel and Retail. In Travel, Lodging and Airlines continue their growth trend with week over week improvements as well as a relatively “big” move for Cruise Lines with a 4% improvement to 83% decline in spending compared to 2019, something we will continue to keep an eye on.
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, as did Wholesale Clubs and Variety Stores.
Across the Entertainment category, Video Games continue to maintain a high growth rate. Fast-Food Restaurants see stable growth in spending compared to 2019, while Restaurants see a slip to a 12% growth rate compared to 2019.
Airline spending ticks higher overall compared to 2019, but United Airlines sees a week-to-week decline. Lodging spending once again shows growth compared to 2019, with Holiday Inn similarly ticking up toward positive territory, but still remaining negative at a 2% decline in spending compared to 2019.