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Tracking General Merchandise Demand & Consumer Behavior with Transaction Data

General Merchandise spending accelerated modestly in 2024, driven by an increase in transactions, not ticket. However, elevated inflation and rising economic uncertainty continue to impact consumer confidence, which is beginning to manifest in early 2025 spending trends. While spending broadly decelerated so far, certain retailers are setting themselves apart, even as Chinese online retailers remain a competitive concern. Using Earnest’s Vela Gamma dataset, this report explores:

  • How did General Merchandise spending share shift in 2024?
  • How are General Merchandise retailers performing in 2025?
  • What retailers are performing best among high income earners?
  • How big of an impact has Temu had on the category?
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Spending data provides a clear picture of sales, transactions, retention, brand preference, and customer growth across thousands of public and private companies in real time.

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Market share sizing

Use spending data to track share of consumer dollars across traditional and DTC retailers. Cohort markets by income, age, channel, geography, source, and category.

Why clients choose Earnest

"Earnest understands the buy-side workflow and how to incorporate its insights seamlessly into our investment process." -Long/short fund manager
"To be able to benchmark our performance nationally and by individual market in near-real-time allows us to run our business more intelligently." -Alex Pasley, Chief of Staff & Head of Strategy, Corepower Yoga
"Earnest is a treasure trove of granular, individual-level transactional data…Knowing that we have this data for a very large universe of companies over multiple years is a game changer." -Dan McCarthy, Co-Founder of Theta

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Access aggregated or row level data. Receive both daily updated raw data and transformed data tables including merchant and/or product attributions—all with unlimited flexibility to run customer analyses.