Technical innovations in smartphones and tablets may be in the news quite often, but consumer electronics spending saw a 7 percent year-over-year decrease in the second quarter, according to the latest update from the Chase Freedom Lifestyle Index.
The most significant jump (14 percent) in year-over-year second quarter spending was in the costume retail category. That suggests that wedding gown and prom dress budgets were on the rise, Chase said.
Overall spending was up 1 percent compared to second quarter 2012.
Leisure activities were a priority in the second quarter, the index said. Expenditures on books jumped 8 percent, while museum and sporting goods spending were both up 7 percent.
Spending on lessons and classes saw a 6 percent year-over-year increase.
The index is a quarterly barometer of consumer trends based on aggregated Chase Freedom cardholder spending data.
Here are second-quarter 2012 to second quarter 2013 shifts:
- Overall: +1 percent
- Costume Retail: +14 percent
- Books: +8 percent
- Sporting Goods: +7 percent
- Museums: +7 percent
- Lessons and Classes: +6 percent
- Consumer Electronics: -7 percent
- Gas: -7 percent