Sensibill’s Barcode Report Finds that Consumer Spending Trends Suggest a Return to Normal

SKU-level data expert analyzes shifts from pre-pandemic behavior and priorities

TORONTO--(BUSINESS WIRE)--Sensibill, the leading provider of everyday financial tools and SKU-level insights, shares this month’s Barcode Report on consumer spend related to post-pandemic activity, leveraging item-level receipt data to uncover the deepest and most relevant insights into consumer spending.

The Barcode Report transforms SKU-level data derived from receipts into consumable and actionable insights that organizations can leverage to better understand their customers’ spending habits and behaviors. Sensibill has amassed a database of transactions from 220,000 merchants worldwide, including 96% of the top 100 in the U.S. Of these merchants, the company has extracted more than 6 million unique SKUs across 32 different countries, developing more than 6,000 unique product categories. In this report, Sensibill analyzed millions of receipts from U.S. and Canadian consumers to determine consumers’ behavior and habits as the world reopens.

Key Highlights & Trends

• Average consumer spend over the past three months is showing signs of a return to normalcy, as it increases at an average of .3% per month. In fact, recent spending patterns are similar to what we saw in 2019, pre-pandemic.
• Consumer spend on salons and spas is on the rise, growing at a monthly rate of 45%.
• 1.4x more consumers with movie-related expenses purchased masks & sanitizer, when compared to consumers returning to other activities.
• In the last three months, average consumer spend in the salon & spa category had the highest rate of increase per month at 45% while movie-related expenses have been increasing at 29% and back-to-school at 15%.

Izabella Gabowicz, Chief Operating Officer at Sensibill, said, “Our deep first-party data enables us to accurately understand trends and shifts based on everyday spend, which in turn influences how businesses can and should interact and engage with their customers. Understanding that consumer spend is starting to mimic that of 2019 helps organizations prepare for and become more proactive around future uptick in business activity and demand.”

Please click here for the full version of the report.

About Sensibill

Sensibill provides everyday financial tools and makes SKU-level data actionable, equipping financial institutions with personalized insights to help their customers build healthier financial habits. The AI-powered solution enables end-users to easily track their spending and manage their finances while unlocking unprecedented insights for the institution. Sensibill has rolled out its technology to over 60 million users across North America and the U.K. Visit getsensibill.com to learn more.