Insights on Changing Consumer Spending
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FIRST REPORT: JUNE 10, 2020
Not much in the way of surprises in our twelfth installment of the FIRST reports. Some of the areas we have seen very strong growth in are starting to cool off a bit (Video Games, Amazon) while some of the more beat up segments are showing steady improvement (Restaurants, Travel). Reversion towards the mean is a powerful force, and it seems to be taking hold given the economy sits about 12 weeks past the start of the pandemic.
Spending in the Video Game segment is finally starting to lose some steam, with year over year growth of 57% in the week of June 7, down from a lofty 85% in the prior week. It’s worth noting that this segment is still well above the levels seen prior to COVID-19.
FIRST REPORT ARCHIVE