February 2023 Earnest Analytics Spend Index

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Earnest Analytics Spend Index powered by Orion transaction data worsened between January and February, as a deceleration in in-store more than offset a slight acceleration in online. Gyms and workout classes continued to grow the fastest of any category in February, up mid-single digits, despite decelerating from January’s usually busy fitness resolution season. Pet Supplies and Fashion Resale grew the second fastest, despite a steep deceleration in Fashion Resale sales from January. QSR continued to stand out among restaurant categories, up mid-single digits and flat vs January. Delivery Aggregators accelerated meaningfully, though sales remained slightly below year ago levels. Warehouse Clubs was the only General Merchandise category to grow YoY, though it did so after steep decelerations that mirrored an overall deceleration in Gas Stations and fuel prices. Air Travel sales posted the largest deceleration of any major category, from growing low double digits in January to low single digits in February.

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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.