Win the Week™ Retail Newsletter (June 12, 2024)
We're excited to share with you the latest consumer spending trends from the week ending June 8, 2024. Powered by Facteus' comprehensive transaction data, our Win the Week™ Retail Newsletter provides a snapshot of key retail and e-commerce categories.
Here are this week's highlights.
General Retail Insights
General retailer insights focus on big-picture consumer spending for some of the titans in retail sales, including Amazon, Walmart, Target, and Temu.
Weekly spend growth: 0.02%
Average ticket growth: -0.9%
Fast Fashion
Fast fashion retailer trends indicate some backslides in consumer spending recently, particularly among SHEIN, Zara, H&M, and Uniqlo. Notably, while the average weekly spend was down for fast fashion consumers over the past week, average ticket sales per customer did increase for some brands.
Weekly spend growth: -7.7%
Average ticket growth: -2.8%
TikTok Shop
Consumer spending on the TikTok Shop trended up last week, when comparing week-over-week sales, despite the average tick price declining slightly.
Weekly spend growth: 6.6%
Average ticket growth: -2.4%
Other Categories
A handful of other retail categories also experienced slight to substantial declines in consumer spending last week, with smaller dips in food spending and larger declines in hardware and home supply purchases.
Fast Food & Restaurant spend growth: -1.4%
Grocery spend growth: -1.8%
Wholesale Club spend growth: -2.3%
Discount Store spend growth: -1.1%
Hardware & Home Supply spend growth: -14.4%
Key Takeaways
Summing up the most recent retailer transaction data, here are essential takeaways from the past week:
General Retail saw slightly positive weekly spend growth, despite a decline in average ticket size.
Fast Fashion experienced a significant drop in both weekly spend and average ticket growth.
TikTok Shop stood out with strong weekly spend growth, even with a decrease in average ticket size.
Most other categories saw modest declines in weekly spend growth.
Stay tuned for next week's edition of our Win the Week™ retailer insights series, where we'll continue to uncover valuable findings and the latest consumer spending intelligence to help you navigate the ever-changing landscape of the retail industry.
If you have any questions or would like to learn more about how Facteus' data can help your business, please don't hesitate to reach out.
Best regards,
The Facteus Team
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