Americans Are Spending Like It’s 2019
After a two-year decline, consumers in America are spending at levels that rival those of 2019, right before the pandemic hit.
DCA Insight:
Gym memberships, child care, travel, meals out, concerts—demand is high. Americans are spending money on experiences at rates close to or above pre-Covid times. At the same time, companies that flourished during the pandemic boom, like Peloton and Instacart, are taking a hit. Pent-up demand, vaccinations and a milder form of the virus drives the trend.