August 2023 Earnest Analytics Spend Index
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Earnest Analytics Spend Index powered by Orion transaction data remained below year-ago levels in August, as in-store and online both decelerated slightly. Gyms and Workout Classes accelerated, growing mid single digits. Active & Athleisure and Fashion Resale were the only apparel categories with positive growth in the month, while Off-Price Department Stores also rose YoY. Online Marketplaces and Warehouse Clubs outperformed brick and mortar general merchandise retailers. Restaurant Delivery Aggregators and QSR also grew YoY, despite weakness in Casual Dining. Online Travel Agency and Air Travel both decelerated to negative YoY growth as the summer travel season came to a close.
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*About the Earnest Analytics Spend Index:
The Earnest Analytics Spend Index (EASI) 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 EASI include better representation of e-commerce spend, disaggregation by geography, and online versus in-store breakouts.
Historical numbers could vary slightly due to methodology updates.
