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 epidemic 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.
For the week ending July 11th consumer spending saw positive average growth rates in the Travel category for the first time since the pandemic hit last year. Retail categories on average had a slower growth rate this week compared to the past month, while Entertainment ticked up in comparison to 2019. Movie Theaters had another high-water mark, potentially driven by new movie releases such as Black Widow.
In the Retail Segment, consumer spending for nearly all the categories slowed compared to 2019. Amazon bucked this trend with a slight gain in spending, while Walmart spending continues to slide compared to 2019.
Fast Food & Restaurant’s growth accelerated compared to 2019, while Video Games decelerated spending growth compared to 2019.
In the Travel Segment, Lodging, Airlines, and Cruise Lines continue to show growing spend patterns relative to 2019.