The COVID-19 pandemic has crippled many traditional retailers, with previous analyses showing clothing store sales dropping by half, or more. As many Americans are still unable to patronize brick-and-mortars, that spending may be increasingly displaced toward online shopping. Nationwide, the latest data reveals that weekly ecommerce sales are up 80 percent year-over-year.
After sheltering in place for weeks, American consumers are warming up to the idea of dining out, opening both their mouths and wallets to restaurant chains across the nation. As some states begin phased re-openings, spending at quick-service restaurants year-over-year has grown in many states, especially those where shelter-in-place orders have been lifted. Meanwhile, year-over-year sales at full-service restaurants are still down nationwide.
In response to the coronavirus pandemic, the U.S. government has begun issuing economic impact payments via the IRS to qualifying Americans. These cash infusions are helping U.S. consumers cover their basic expenses as well as stimulating the economy at large. By identifying members of our U.S. consumer panel who have received a payment, our latest analysis measures the relative impact of stimulus on spending behaviors.
In the COVID-19 era, U.S. pet owners are increasingly turning to Chewy.com, but shelter-in-place orders have been hard on Wag and Rover.
The coronavirus continues to impact Americans’ daily lives as many face the stark reality of shelter-in-place orders and a volatile financial market. By analyzing consumer spending, our transaction data can surface U.S. spending trends in near-real time to provide insights in these unprecedented times.
Shelter-in-place orders in response to the coronavirus have pushed Americans to spend more at major office supply retailers, like Office Depot and Staples.
