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Second Measure

Second Measure is a technology company that analyzes billions of anonymized purchases to answer real-time questions on consumer behavior.

Through our self-service platform, we help our clients—some of the world’s largest brands and investment firms—identify fast-growing companies, benchmark competitors, and better understand their customers.

We’re based in the Bay Area with an office in New York, and we’re proudly backed by Bessemer Venture Partners, Goldman Sachs, Citi Ventures, Jefferies Investment Group, Y Combinator, and other top investors.

May 7, 2021 / Business

Fashion resale platforms outperform retailers during pandemic

From Second Measure
As environmentally-conscious consumers turn away from fast fashion and seek more sustainable alternatives, resale marketplaces have been on the rise. Furthermore, traditional retailers have started implementing new resale initiatives; Lululemon recently announced a resale program for pre-owned activewear, and Neiman Marcus launched a platform for its stylists to sell clients’ unwanted handbags and accessories.
April 27, 2021 / Business, Investing

Robinhood’s Band of Investors Grows During COVID-19 Era

From Second Measure
Retail trading has been booming during the pandemic, sending trading volumes to record highs as everyday investors joined in on the historic rally in equities. Momentum has been growing for several years, as the barriers to entry have fallen. App-based brokerages such as Robinhood and Webull have grown in popularity and made investing more accessible through commission-free trades and user-friendly interfaces. Transaction data reveals how trading deposits have grown in the COVID-19 era, as well as how app-based brokerages have performed compared to more established industry competitors.
April 26, 2021 / Business

One year later, DTC toilet paper companies still on a roll

From Second Measure
Shortly before shelter-in-place orders went into effect in March 2020, many retailers experienced the mad dash of customers stockpiling toilet paper. As supply ran out in brick-and-mortar stores, some consumers turned to DTC companies—such as Who Gives a Crap and Tushy—that offer bathroom products. Who Gives a Crap sells bamboo and recycled toilet paper as well as tissues, while Tushy sells bidets, bamboo toilet paper, and other bathroom accessories. Both of these DTC toilet paper companies saw strong growth in March and April of 2020. New consumer spending data reveals how Tushy and Who Gives A Crap have fared in the year since the initial panic-buying phenomenon.
April 22, 2021 / Economy

Theme Parks Having Roller Coaster of a Year

From Second Measure
Consumer transaction data reveals that theme parks across the U. S. have been on the road to recovery, with both ticket sales and customer counts on the rise, after having been hit hard by shelter-in-place orders in March 2020. The industry witnessed a 55 percent decline in sales year-over-year in March 2020, and has since bounced back with 92 percent year-over-year sales growth in March 2021. Theme parks saw observed customers fall by a lesser magnitude year-over-year between April to September of 2020. The monthly average year-over-year growth in observed customers stood at -69 percent compared to -77 percent for observed sales, a trend that was perhaps due to parks looking to alternative ways of maintaining customer traffic, like Disney World’s NBA bubble.
April 19, 2021 / Economy

COVID-19 Industry Tracker

From Second Measure
U.S. consumer spending has been altered by the coronavirus pandemic. Our data reveals that consumers are changing the way they pay for goods and services, with some industries seeing spending shift toward online purchases. Additionally, the pandemic has changed the types of purchases consumers are making, with stimulus recipients increasing their spending on big-ticket items. By analyzing industry-level data, consumer spending trends can provide insight into which sectors of the economy are recovering fastest. Overall, consumer spending in March 2021 versus the same month in 2020 is up 27 percent across all sectors, an aggregation of over 5,200 major U.S. companies. Compared to February, March’s year-over-year growth is 14 percentage points higher.
April 15, 2021 / Business

Uber vs. Lyft: Who’s tops in the battle of U.S. rideshare companies

From Second Measure
When U.S. cities and states faced shelter-in-place orders to limit the spread of the coronavirus, Americans’ reduced mobility resulted in plummeting sales at rideshare companies. With the exception of a late 2020 dip, sales have been gradually recovering since April 2020. However, Uber sales were still down 21 percent year-over-year and Lyft sales were down 19 percent year-over-year as of March 2021.
April 15, 2021 / Business

Which company is winning the restaurant food delivery war?

From Second Measure
When many Americans sheltered in their homes early in the coronavirus pandemic, meal delivery sales reached new heights. Our data reveals that in March 2021, sales for meal delivery services grew 116 percent year-over-year, collectively. Shelter-in-place orders may also be driving more Americans to make their first meal delivery purchase. In March 2021, 47 percent of U.S. consumers had ever ordered from one of the services in our analysis, up from 38 percent a year ago.
April 12, 2021 / Business

COVID-19 Shakes Up Smoothie Kit Sales

From Second Measure
While consumers have often looked to on-the-go breakfast options, breakfast at home has been making a comeback during COVID-19. But it’s not just cereal and pancakes that are now in demand. Similar to the trend of surging meal kit sales, consumers have been flocking to smoothie subscription boxes. Consumer spending data reveals how sales for smoothie kits have skyrocketed throughout the pandemic, as well as which smoothie box companies are leading the pack in terms of market share growth and customer retention. Since January 2019, the market size for smoothie subscription boxes has tripled. Sales accelerated the most in the early months of the pandemic, and monthly year-over-year sales growth in 2020 averaged 97 percent.
April 6, 2021 / Economy

Dollar Store Sales Buck COVID Era Retail Trends

From Second Measure
Brick-and-mortar retailers have been suffering during COVID-19, but one category that is expanding is dollar stores. Demand for the inexpensive groceries and household items found in dollar stores skyrocketed in 2020, especially in rural areas with fewer shopping options. An analysis of transaction data found that among dollar stores, Dollar General experienced the highest sales growth in 2020 by capturing spend from customers who previously shopped at competitors.
March 29, 2021 / Business

Pet supply companies thrive while pet care companies struggle

From Second Measure
Since restrictions on social gatherings were introduced in March 2020, many U.S. consumers have turned to animal adoption to keep themselves company during the coronavirus pandemic. The pet industry as a whole observed 18 percent growth from March to December of 2020, with most of this growth driven by the pet supplies sector. Sales for the pet supplies sector have increased in the COVID-19 era. Meanwhile, pet care companies (dog walking, dog hotels, pet vacations and entertainment services) have been dealt a huge blow, as consumers have stayed home and sought new ways to keep their furry friends entertained. Year-over-year growth for pet care companies dropped 47 percent in March 2020 and has not fully recovered.
March 25, 2021 / Business

DTC Companies Give Vitamin Industry a Boost

From Second Measure
The pandemic has had a mixed impact on vitamin companies. While wellness giant GNC declared bankruptcy in June and announced it would close 1,200 stores, DTC vitamin companies are flourishing. More specifically, ecommerce vitamin companies like Ritual and Persona have seen their sales and market share increase during the pandemic—appealing to customers through a combination of personalized offerings, a focus on online sales, and influencer marketing. For the past three years, sales for the vitamin category have been trending downward. By Q4 2020, vitamin sales were 68 percent of what they were in Q1 2018. Interestingly, the vitamin market follows a pattern every year, in which sales spike in Q1 before tapering off for the remaining three quarters.
March 22, 2021 / Economy

COVID-19 Industry Tracker

From Second Measure
U.S. consumer spending has been altered by the coronavirus pandemic. Our data reveals that consumers are changing the way they pay for goods and services, with some industries seeing spending shift toward online purchases. Additionally, the pandemic has changed the types of purchases consumers are making, with stimulus recipients increasing their spending on big-ticket items. By analyzing industry-level data, consumer spending trends can provide insight into which sectors of the economy are recovering fastest. Overall, consumer spending in February versus the same month in 2020 is up 13 percent across all sectors, an aggregation of over 5,200 major U.S. companies.
March 17, 2021 / Business

Kids’ Education Box Companies in a Class of Their Own

From Second Measure
Subscription boxes have been booming during the pandemic, enabling consumers to shop for products such as food, alcohol, beauty, and clothing from the comfort of homes. As schools nationwide transitioned to remote learning–with several remaining online into 2021–another area that’s been experiencing renewed interest is subscription boxes for kids.
March 16, 2021 / Business

Which company is winning the restaurant food delivery war?

From Second Measure
When many Americans sheltered in their homes early in the coronavirus pandemic, meal delivery sales reached new heights. Our data reveals that in February, sales for meal delivery services grew 119 percent year-over-year, collectively. Shelter-in-place orders may also be driving more Americans to make their first meal delivery purchase. In February, 47 percent of U.S. consumers had ever ordered from one of the services in our analysis, up from 37 percent a year ago.
March 15, 2021 / Business

Sneaker resellers putting their best foot forward

From Second Measure
Aftermarket sneaker resellers have witnessed a surge in consumer demand over the last 12 months, likely accelerated by the closure of brick-and-mortar sneaker stores during the pandemic. While traditional sneaker retailers—FootLocker, FinishLine, and ShoePalace—saw little or no growth in 2019 and then experienced a collective year-over-year sales decrease of 72 percent in April 2020, aftermarket sneaker resellers, which largely sell online, saw a collective year-over-year sales increase of 68 percent that same month.
March 11, 2021 / Business

Athleisure Brands Stay Active During COVID Era

From Second Measure
The demand for athleisure apparel has been soaring as Americans continue to work from home and swap their gym routines for at-home workouts. As a result, activewear companies have experienced strong sales growth over the past year, while several retailers and clothing subscription box companies have incorporated more athleisure into their offerings. Additionally, our analysis of athleisure brands reveals that UK-based Gymshark is gaining market share from its more established competitors, and continues to gain traction in the U.S.
March 4, 2021 / Business

Clothing Subscription Box Companies Restyle Their Offerings In Pandemic

From Second Measure
In a challenging year for apparel companies, many clothing subscription companies doubled down on their e-commerce strategies. In March 2020, Nordstrom closed its brick-and-mortar Trunk Club locations in favor of ramping up its digital channels. Similarly, Rent the Runway announced that it would permanently close its five stores while revamping its membership tiers to eliminate the unlimited rental option.
March 2, 2021 / Business

Third Party delivery services boost restaurant industry sales

From Second Measure
The COVID-19 pandemic has increased the popularity of third party delivery services, which have seen a surge in full-service restaurant partnerships as many restaurants turn to third-party delivery services to stay afloat. However, our consumer transaction data reveals that third party delivery services generate significantly more sales through quick-service restaurants than full-service restaurants, though they constitute a larger portion of total sales at full-service restaurants.
February 24, 2021 / Economy, Business

As Wine Delivery Category Grows, Market Share Shifts

From Second Measure
With alcohol delivery sales reaching new heights in the pandemic, American Airlines has recently announced its plans to start a wine delivery service to sell some of its surplus wine that isn’t being consumed on flights. However, an increasingly crowded category and rising consumer demand means that market share among DTC wine companies has shifted over time.
February 22, 2021 / Economy

COVID-19 Industry Tracker

From Second Measure
U.S. consumer spending has been altered by the coronavirus pandemic. Our data reveals that consumers are changing the way they pay for goods and services, with some industries seeing spending shift toward online purchases. Additionally, the pandemic has changed the types of purchases consumers are making, with stimulus recipients increasing their spending on big-ticket items. By analyzing industry-level data, consumer spending trends can provide insight into which sectors of the economy are recovering fastest. Overall, consumer spending in January versus the same month in 2020 is up 28 percent across all sectors, an aggregation of over 5,200 major U.S. companies.