For more insights and key statistics on the biggest trends in today's most disruptive industries, subscribe to our Chart of the Day newsletter.
Online consumer spending in the US was flat in Q1 2022 from the same quarter a year prior, as shoppers pivoted away from their pandemic-driven digital spending habits. While brick-and-mortar saw growth, the increase was just 3%.
Beyond the chart: Total retail sales decreased last quarter, whereas expenditures on restaurants and the gas and grocery category rose and fueled spending growth overall. Travel and entertainment also contributed to this growth, with cruise lines, concerts/theater, and amusement parks seeing triple-digit increases.
Whether consumers will keep splurging on in-person experiences—or pull back as they have on retail—remains to be seen. With gas prices approaching or exceeding $5 per gallon in every state, travel and entertainment may be next on the chopping block.
More like this:
11 Times SquareNew York, NY 100361-800-405-0844