In Profiles of Local Consumer Commerce, we show that the year-to-year growth of consumers' everyday spending on most goods and services in 15 major U.S. metropolitan areas has slowed dramatically, from 5 percent in the second quarter of 2014 to 0.5 percent in the comparable period in 2015. We...

Online shopping surged in the initial months of the COVID-19 pandemic, accelerating the pre-pandemic shift toward increased online consumer activity. This trend fed into concerns over the success of top retailers at the expense of smaller ones. Further, it raised questions of whether consumers...

Online shopping surged at the start of the COVID-19 pandemic across three product categories: groceries, restaurants, and general goods. Consumers maintained higher levels of online spending through August 2021 as compared to pre-pandemic levels. Increases at restaurants and on general goods...

In this report the JPMorgan Chase Institute examines administrative data on the everyday spending behavior of a random, de-identified sample of one million core Chase customers across 23 states to quantify the impact of an entire year of lower gas prices in 2015. First, we show that...

We use U.S. household-level bank account data to investigate the heterogeneous effects of the pandemic on spending and savings. Households across the income distribution all cut spending from March to early April. Since mid April, spending has rebounded most rapidly for low-income households. We...

We use U.S. household-level bank account data to investigate the heterogeneous effects of the pandemic on spending and savings. Households across the income distribution all cut spending from March to early April. Since mid April, spending has rebounded most rapidly for low-income households. We...