Interesting look from AMEX at consumer credit card activity over the course of the recession and early recovery (Jan ’07 to Feb ’10), with commentary from noted behavioral economists Dan Ariely and Richard Thaler.
The data AMEX has access to is impressive. With over 90 million card accounts, they process 8,300 transactions every minute every day.
The report teases out differences in consumer behavior according to age, affluence, category of spend, etc. Categories that enjoyed spending increases from 2007 to 2009 included Education, Pets, Supermarkets and Medical/Health. Art, Electronics, and Hotels suffered the greatest decline.
Also interesting ….
was how “Green” purchases and charitable donations held up during the recession. The graphs below show purchases – not spending. The green trend seems to have legs….