EARNEST Releases New COVID-19 Products Tracking Real-Time Consumer Spending
Earnest Research, the largest provider of data analytics for measuring the consumer economy, has launched macroeconomic products for investors, consumer brands, consultants, and government agencies to track the impact of COVID-19. Earnest's near real-time consumer data provides clients with more accurate forecasting and sheds light on macroeconomic outlooks, consumer behavior, and business activity.
Earnest macroeconomic products show weekly consumer spend trends by channel across all major industries and brands, including restaurants, retail, home, grocery, travel, internet and more. The products allow users to view regional, state, and city spend, transaction count, and average transaction trends based on purchase data from millions of de-identified U.S. consumers.
"We've been working diligently to provide our clients data on U.S. economic performance so they can make more informed investment and business decisions. We've also partnered with state, city, and local government offices, providing them complimentary data, to inform fiscal and budgetary decisions related to emergency relief," said Earnest CEO Kevin Carson.
"Earnest data helps us to monitor changes in the DC economy on a more frequent basis than official statistics allow during the coronavirus crisis, when information on the economy and revenue picture is most crucial to prudent budget planning," said Dr. Fitzroy Lee, Deputy Chief Financial Officer and Chief Economist for the OCFO of Washington DC.
Earnest recently partnered with the New York Times to investigate how the virus has changed how consumers spend money, and is providing ongoing coverage to publications like The Wall Street Journal, CNBC, and Vox Media among others.