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.
For the week ending September 12, consumer spending in the retail and entertainment categories saw a minor acceleration, while travel saw a decline, compared to the prior week. The segments with the most growth were Department Stores and Discount Stores, while Lodging experienced negative year over year growth compared to 2019 for the first time since June of this year.
Within the Retail Category, there was acceleration across all segments, except for Wholesale Clubs.
Restaurant spending growth accelerated compared to 2019 as did Video Game spending relative to 2019, recovering from the previous week’s drop.
Lodging growth flat-lined relative to 2019 last week, and Airline spending shows continued weakness.