Source: Alkami Telemetry Data for this figure was sourced from a panel of 13 financial institutions consisting of more than 400,000 account holders and over 200 million transactions.
What we’re seeing: Summer (June-July) transactions at sporting goods stores rose during the COVID-19 pandemic as consumers looked for escapism to the outdoors, or prepared for a lengthy quarantine. In 2020 transactions were 34 percent higher than in 2019 and transactions were 39 percent higher in 2021 than in 2019. Since easing of COVID restrictions, summer transactions have come down, but in 2023, June-July transactions were still 19 percent above 2019 levels suggesting that new lifestyle habits brought about by life with COVID may be sticky.
Takeaway & Call to action for FIs: Staying top of wallet can reap significant benefits for the financial institution. Be sure to promote swiping and any benefits like cash-back offers for account holders to use your financial institution’s credit card for purchases.
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