Weekly Consumer Economy Report (13 – 19 April 2020)
In light of the ever changing situation surrounding Covid-19, Fable Data publishes a weekly report to reveal the magnitude of the daily fluctuations across the European consumer economy. Our data shows the shift in spending trends by category, region and demographic subgroups, helping decision-makers make better decisions in this challenging environment.
Contact Stephanie Goulden at firstname.lastname@example.org to access the full report.
During the last week, we saw the UK daily spend index continue to decline, but at a slower rate, whereas the German index showed some initial signs of stabilising albeit at a new lower base.
There were some interesting changes in consumer spending by sector. In the UK, Average Daily Spend for the week in Specialty Retail continued to grow, increasing 105% YoY, whereas in Germany, spend declined by 11% YoY. UK Digital Goods spend growth slowed from 159% last week to 125% YoY this week. In Germany, this category was the top performer with YoY growth of 181%. Grocery spend remained up in both countries albeit at a lower rate than the week before which was12% YoY in the UK and 19% in Germany.
UK Discount stores also continued to perform well with 16% growth in spend, broadly in line with previous week. Germany, on the other hand fell to -7% in this category. Spend on Home furnishings performed less badly in the UK, only falling 14% YoY versus a decline of 19% during the prior week. In Germany, Home Furnishings growth of 21% YoY remained stable. In the UK, Charity spend fell 22% YoY but in Germany it grew 44% YoY.