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Yodlee

Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. More than 1,000 companies, including 15 of the 20 largest U.S. banks and hundreds of Internet services companies, subscribe to the Envestnet | Yodlee platform to power personalized financial apps and services for millions of consumers. Envestnet | Yodlee solutions help transform the speed and delivery of financial innovation, improve digital customer experiences, and drive better outcomes for our clients and their customers.

Envestnet | Yodlee is headquartered in Redwood City, CA with global offices in London, Sydney and Bangalore.

January 12, 2021 / Travel

2020 Holiday Travel - Not Quite at a Standstill, but Lagging Behind Previous Years

From Yodlee
Even amidst an unprecedented pandemic, Americans still traveled for the holidays, just at lower numbers than usual. That’s according to Envestnet | Yodlee’s Income and Spending trends, as well as recent news reports. Airports saw depressed numbers for holiday season. According to the Transportation Security Administration (TSA), there were over 600,000 people screened at airport security checkpoints on Christmas Day, or roughly 23% of the number vs a year ago.
December 22, 2020 / Business

‘Tis the Season – Holiday Shopping During COVID-19

From Yodlee
Amidst the most unique holiday season in recent memory, Envestnet | Yodlee’s COVID-19 Income and Spending Trends sought out to observe how holiday shopping has differed this year compared to previous years. Spending on clothing has been steadily improving throughout the year, although even as the holiday shopping season is in full swing, it is still trending lower than 2019 due to a variety of reasons, ranging from shorter store hours to a slow economic recovery.
December 11, 2020 / Travel

On The Road Again With RVs

From Yodlee
The market for RVs experienced a surge in demand this past summer as months quarantined at home and concerns about the potential hazards of travel led would-be vacationers to rethink their travel plans and incorporate RVs.
December 4, 2020 / Economy

Return to Business As Usual For Large Format Retail Stores, Food Delivery Remains Elevated

From Yodlee
During the early months of the COVID-19 pandemic, Envestnet | Yodlee’s Income and Spending trends noted an increase in consumer buying in large format retail which led to certain stores being overrun with customers. Spending at these retailers spiked as customers feared store closures and supply shortages.
November 20, 2020 / Economy

Student Loan Repayment in the Age of COVID-19

From Yodlee
Many Americans who stopped paying student loan payments in April are still not paying. That can be seen in the Envestnet | Yodlee Income and Spending trends data through the month of October. The number of users making student loan payments beginning in April dropped by 50 percent.
November 16, 2020 / Business

Finding Crafty Ways to Spend Time at Home

From Yodlee
During the lockdown in many areas of the country, households were suddenly faced with finding activities to do with the family or occupy time while activities out of the home came to a halt. While some new skills may be short lived, some new habits emerged: households have increased their cooking activity and cultivated new bread making skills, while others embarked on more ambitious home improvements and upgrades that had previously been ignored.
November 2, 2020 / Business

Primed for the Holidays

From Yodlee
For the fifth straight year, Amazon Prime Day created excitement among consumers with discounted offerings for customers opening their wallets at the cloud cash register. While Amazon has not yet self-reported a final tally, according to Envestnet | Yodlee data, the event was a success, leading to an average spend per customer (or “ticket size”) of $76 during the event versus $74 a year ago.
October 15, 2020 / Business

Consumer Spending on Console Gaming Rises

From Yodlee
Console gamers have not been sitting on the sidelines, patiently awaiting next generation Xbox and PlayStation systems to arrive. Envestnet | Yodlee COVID-19 Spending trends have shown that console spending has continued to maintain high levels throughout the pandemic.
October 8, 2020 / Economy

Consumers Continue to Move Toward Food and Grocery Delivery

From Yodlee
At the onset of the pandemic, consumer spending on both grocery and food delivery services experienced large spikes. Several online grocery purchase platforms reported a massive increase of new customers making their first-ever purchase during the week of March 31. States like Florida, Georgia, North Carolina, Illinois and Pennsylvania saw high growth in new customers opting for grocery delivery.
September 24, 2020

It’s Cut and Dry: Spending on Personal Grooming Down from Last Year

From Yodlee
Months into the global pandemic, salons and barber shops are slowly opening back up at different stages, but the industry as a whole remains hit hard. An analysis of spending at personal grooming retail outlets (haircuts, barber shops, spas, salons etc.) reveals that this industry has been severely affected by COVID-19.
September 17, 2020 / Travel

Winter Vacation was Cut Short, But Summer Tourism Showed Momentum

From Yodlee
Overall, Envestnet | Yodlee COVID-19 Income and Spending trends data shows that consumer spending in the summer resort category has recovered since bottoming out in April 2020. For this analysis, we looked at spending in resort towns during summer to see if the pandemic affected areas that would usually be bustling during vacation months. In our analysis, we took a closer look at U.S. towns like Truckee, California; Aspen, Colorado; Jackson Hole, Wyoming; and others.
September 10, 2020 / Economy, Real Estate

A Surge in New Mortgages, Even as Mortgage Payments Slow Down

From Yodlee
The COVID-19 pandemic put tremendous pressure on the new mortgage market in the United States through May 2020. While COVID-19 has made the in-person home inspection process more challenging, it has not slowed the pace of new mortgage applications and re-financing through this time period.
September 2, 2020 / Business

Come On In and Stay Awhile – the Vacation Rental Industry During COVID-19

From Yodlee
In March 2020, the travel industry came to a near standstill. Trains, planes, and automobiles all saw a steep decline in consumer engagement as the vast majority of personal and corporate travel plans were scuttled. The lodging industry was also in a quagmire, with consumer spending on hotels and vacation rentals experiencing steep declines during the first weeks and months of the COVID-19 pandemic.
August 24, 2020 / Culture

Putting in the Miles – Vacationers Lean into RV Travel

From Yodlee
The classic experience of road tripping across the country has gained momentum during the pandemic. Concerns about the potential hazards of other forms of travel have led vacationers to hit the road in a Recreational Vehicle (or RV). There are a myriad of stories of how this demand has transpired. Some travelers are looking for alternatives to hotels and view an RV as a more controlled environment.
August 19, 2020 / Culture

Online Brokerages Experience Boom in New Accounts During Pandemic

From Yodlee
When the going gets tough, the tough open a brokerage account. Well, that’s not exactly the saying, but that seems to be what is occurring across the country as the pandemic has set in. According to Envestnet | Yodlee spending trends data, new online brokerage accounts were opened at very high rates in March 2020, compared to the previous month. Interestingly this phenomenon has occurred across all income groups, as shown from our Income and Spending Trends Data.
August 13, 2020 / Economy

Spending Trends at Department Stores Demonstrate Impact on American Malls

From Yodlee
As the United States has bounced between planned openings and closures, businesses which rely on consumer interaction have had to adapt to keep up. To truly observe the experience, one need not look further than traditional malls across the country. Many stores have adhered to regulations that require a reduction in hours, reduced occupancy, and other restrictions to help prevent the spread of the COVID-19 virus.
July 1, 2020 / Economy

America Gradually Gets Moving Again – Part II

From Yodlee
In Part 2 of this blog, we’ll take a look at consumer spending on commuting since the shelter-in-place orders were initiated across the country and resulted in many Americans working from home. Public transit and options such as taxis and ride sharing continue to look sluggish in terms of spending, although car rentals have picked up at a faster pace.
June 24, 2020

America Gradually Gets Moving Again – Part I

From Yodlee
As states begin to loosen shelter-in-place restrictions, various factors have led to an improved landscape for the travel and transportation industry. Although it must be said – progress has been slow. Part One of this blog analyzes spending on travel and transportation compared to 2019. Part Two will focus on insights related to commuting. In an April blog post, we analyzed data which showed dramatic decreases in travel-related consumer spending during the second half of March and into April.
June 17, 2020

Georgia credit card data paints a clearer picture of what the reopen looks like

From Brad Schneider
As one of the first states to reopen, many eyes are on Georgia to understand the impact. After nearly 2 months into the reopen, many state officials are quick to point out that there hasn’t been a rebound in new COVID cases. To give context for this lack of infection rebound we take a look at credit card receipt data from Yodlee to understand how open the state actually is.