U.S. consumer spending has been altered by the coronavirus pandemic. By analyzing industry-level data, consumer spending trends can provide insight into which sectors of the economy are recovering fastest.
Author: Liyin Yeo
Hotel sales spiked in April 2021 as increasing vaccination rates and warmer weather have more U.S. consumers planning vacations. The travel accommodations industry is reaping the benefits of the growing demand for travel, with Airbnb leading the pack.
Within the airline industry, both full-service and low-cost airlines have been cruising towards recovery, though budget airlines are closer to pre-pandemic levels.
Theme parks across the U.S. have been on the road to recovery, with both ticket sales and customer counts on the rise, after having been hit hard by shelter-in-place orders in March 2020.
Sales for the pet supplies sector have increased in the COVID-19 era. Meanwhile, pet care companies (dog walking, dog hotels, pet vacations and entertainment services) have been dealt a huge blow, as consumers have stayed home and sought new ways to keep their furry friends entertained.
In 2020, aftermarket sneaker resellers witnessed a surge in consumer demand, while traditional sneaker retailers experienced declining sales.