Chase Freedom Index Sees Demand Drop in Consumer Electronics

Chase Freedom Index Sees Demand Drop in Consumer ElectronicsTechnical 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

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