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Earnest Analytics Spend Index powered by Orion transaction data decreased below year-ago levels in April, with both spending channels decelerating. Online spend slowed slightly more than in-store spending. Gyms and Workout Classes grew low single digits, standing out among Fitness and outperforming other major categories. Pet Supplies and QSR continued to be some of the only other subcategories with positive growth in both March and April. All Apparel & Accessories subcategories saw a slow in spend, despite the tax refund season seeing a large boost to Apparel YoY spend in April 2022. Household Goods, Home Furnishings, General Electronics, Air Travel, and Music posted the largest double digits decelerations, substantiating the decline in consumer discretionary spending. Gas Stations YoY spend also declined, but slightly accelerated MoM from March.
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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.
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