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.
In the latest version of the FIRST Report for the week ending July 25, year over year consumer spending in the Retail and Entertainment segments decelerated, while consumer spending in travel remained steady, compared to 2019.
Retail categories stayed steady or slightly decelerated compared to last week’s sharp increase, while Amazon caught up with a reversion to its average growth compared to 2019.
In the Entertainment segment, year over year spending for Restaurants increased slightly compared to last week, while Fast Food and Video Games showed decreased spending compared to 2019.
Consumer spending for the Travel Segment was flat compared to last week. Lodging continues to show strong growth relative to 2019, while Airlines stay near flat growth numbers.