June 2023 Earnest Analytics Spend Index

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Earnest Analytics Spend Index powered by Orion transaction data further declined below year-ago levels in June, as in-store and online both weakened. Apparel categories improved since May, led by fashion resale, despite remaining slightly below year-ago levels. Home improvement and furnishings both decelerated slightly, remaining low double-digits below year-ago sales. Gyms and workout classes continued to grow in the low single digits, standing out with pet supplies in outperforming other major categories. Restaurants accelerated, with QSR growing year over year and outperforming other major categories. Gas stations were one of the biggest underperformers, down double-digits compared to the prior year, and decelerating nearly 6 points from May as fuel prices eased.

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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.