U.S. Consumer Spending During the COVID-19 Pandemic: The Best of Times, The Worst of Times

The pandemic drove unprecedented growth in emerging commerce and payment approaches.

Boston, December 16, 2021 –The COVID-19 pandemic has had a profound impact on our lives since March 2020. State and local governments closed schools, parks, shops, restaurants, and offices, and encouraged citizens to stay at home as much as possible to reduce the spread of infection. Most daily activities—school, shopping, commuting, travel—stopped with very little warning, and consumers and businesses were forced to rapidly shift their purchasing activities.

This Impact Report takes a deep dive into consumer spending patterns starting before the pandemic and continuing into the summer of 2021. It is based on data collected by Facteus and on market intelligence and insights developed by Aite-Novarica Group from previous research and third-party public sources.

This 50-page Impact Report contains 38 figures. Clients of Aite-Novarica Group’s Retail Banking & Payments service can download this report and the corresponding charts.

This report mentions B&H Photos, Bass Pro Shops, Best Buy, Carraba’s, Chick-Fil-A, Cleveland Clinic, Crutchfield,, Dollar Tree, Facteus, Google, Home Depot, Instacart, Jo-Ann Fabrics, Lowe’s, Marshalls, McDonald’s, Olive Garden, Pfizer BioNTech, Pottery Barn, Shipt, Subway, TJ Maxx, Tyson Foods, UC Health, and United Airlines.

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