Earnest Analytics (FKA Earnest Research) Spend Index decelerated from April, as low single digit in-store spending growth more than offset falling online spending. Home spending decelerated notably during the month, with Home Improvement, Home Furnishings, Household Goods, Gaming, Home Fitness, and General Electronics spending all falling double digits. In contrast, spend on Travel & Transportation grew despite a noteworthy slowdown in Air Travel compared to the prior month. Gas Stations were the fastest growing subcategory among major consumer spending areas on surging prices. Otherwise, most spending gains were limited to Warehouse Clubs, Supermarkets, Gyms, and Workout Classes. Heavily touristic and commuter dependent states like NV, NY, and DC continued to out despite concerns over resurging Covid infections.
See the Earnest Analytics (FKA Earnest Research) Spend Index for April (Note: Historical numbers could vary slightly due to methodology updates.)
*About the Earnest Analytics (FKA Earnest Research) Spend Index:
The Earnest Analytics (FKA Earnest Research) Spend Index (ERSI) is an alternative data-driven measure of consumer spending that tracks spend across 2,500+ large national brands in major consumer discretionary and staples subcategories. The near real-time data is derived from the credit and debit spend of millions of de-identified U.S. consumers. Advantages of using ERSI include better representation of e-commerce spend, disaggregation by geography, and online versus in-store breakouts.