Earnest Research Spend Index
The Earnest Research Spend Index* was flat compared to the prior month with in-store growth continuing to decelerate and online accelerating slightly. Yo2Y spend accelerated 2pp both in-store and online. Foot traffic to consumer businesses was up slightly versus 2019 levels for the first month since February 2020, a sharp reversal from August suggesting a recovery in consumer activity. YoY spend growth decelerated for most major subcategories from the previous month, with the largest decelerations in Air Travel, Footwear, and Online Travel Agency. Gaming remained a bright spot, accelerating 12pp.
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