December 2021 Earnest Research Spend Index

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Historical numbers could vary slightly due to methodology updates. Cited accelerations and decelerations could differ slightly due to rounding.

Earnest Research Spend Index growth decelerated from November as online spend fell below year ago levels for the first time since the pandemic began. Fashion Resale, Footwear, Mid-Tier Departments Stores, and Off-Price Department Stores YoY growth stood out during December. Air Travel, Online Travel Agency, and Lodging & Accommodations also outperformed YoY, despite a notable deceleration from November. General Electronics, Home Improvement, Home Furnishings, Household Goods, and Online Marketplaces underperformed during the holiday shopping season as the categories lapped strong 2020 performance. Store visits growth measured by foot traffic stalled after Thanksgiving, ending December slightly higher than pre-pandemic levels.

See the Earnest Research Spend Index for November (Note: Historical numbers could vary slightly due to methodology updates.)

Follow us for more insights on the potential impact of COVID-induced changes on spending behavior in the coming months.


*About the Earnest Research Spend Index:

The Earnest Research Spend Index (ERSI) is an alternative data-driven measure of consumer spending that tracks spend across 2,500+ large national brands in major consumer discretionary and staples subcategories. The near real-time data is derived from the credit and debit spend of millions of de-identified U.S. consumers. Advantages of using ERSI include better representation of e-commerce spend, disaggregation by geography, and online versus in-store breakouts.


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