American consumer buying behavior has undergone dramatic changes during the past 18 months as shoppers have shifted dollars to new categories of spending, new retail channels and new lifestyle priorities and preferences. Spending patterns and trends have fluctuated and evolved throughout the Covid pandemic.
A large, but far-from-universal level of vaccinations, the relaxation of government-mandated restrictions on public gatherings, a new surge in Covid cases due to the Delta variant, the fading of government stimulus, and global supply chain disruptions—all these factors and more are continuing to impact spending in the United States and globally. Where will the U.S. consumer go from here? And how will brands and retailers respond?
The CMO Council is teaming with Commerce Signals, a Verisk Financial company, to conduct a deep dive into changing U.S. purchasing behavior during the Covid pandemic and beyond. Commerce Signals offers unparalleled insights into consumer spending based on a continuous and anonymized view of credit and debit card spending behavior from some 40 million U.S. households, with the ability to continuously analyze shopper behavior across virtually all retail and direct-to-consumer business categories, down to specific retailers by zip code or store location. The information spans a comprehensive range of retail categories from airlines, lodging and rental cars, to restaurants, grocery, department, drug, discount, mass merchant, clothing, and electronics stores, and many more.
Our investigation will be augmented by interviews with marketers in key retail and direct-to-consumer categories to capture their views on where spending will evolve from here and how their companies will respond to these changes.