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.
In the latest installment of the FIRST Report, for the week ending September 19, consumer spending saw week over week acceleration for the Retail and Travel segments, compared to 2019. Categories that experienced the largest acceleration were Discount Stores, Wholesale Clubs, Airlines, and Travel Bookings.
Within the Retail Category, there was acceleration across all segments, except for Home Supply Warehouses.
Restaurant spending growth stayed fairly stable with about a ~5% delta in growth between Restaurants and Fast-Food Restaurants in favor of Restaurants related to 2019. Video Games spending continues to recover growth.
Travel categories saw a reversal after the disjointed Labor Day Weekend behaviors.