Historically, the affluent consumer had an outsized influence on aggregate consumer spending, but the pandemic adversely affected this key demographic disproportionally. With significant affluent pent-up demand, hard-hit categories of travel and restaurant spending should now benefit the most as affluent spending recovers.
Elevated commodity prices such as grain and oil may soon feed into already elevated inflation rates here in the U.S. The persistence of inflation pressures will also likely begin to dampen real economic activity in our view.
Among the key drivers of this year’s robust holiday sales are the recent surge in e-commerce sales, the continued robust demand for food and beverages at home (groceries), and higher prices on holiday-related items.
More than half expect their business to have positive cash flow in 2020, but many small businesses also worry about the potential negative impact that global and political instability could have on their business, according to Visa's latest survey.
Thanksgiving weekend is lining up to be one of the strongest in years, with 60 percent of holiday shoppers indicating they plan to shop on Thanksgiving Day, Black Friday or Cyber Monday. This is a big jump from 51 percent back in 2013.
The ongoing U.S. economic expansion is approaching record-breaking status, but for how long? Visa’s Principal U.S. Economist, Michael Brown, discusses the economic indicators he monitors for signs of a recession.
Austria’s Pinzgau-Pongau region of the Alps is ranked #1 in Visa’s list of the top 25 global winter ski destinations,* based on a three-year average of cross-border arrivals according to the Visa International Travel (VISIT) platform.
Hundreds of millions more global consumers will enter the middle class and gain purchasing power extending beyond their basic needs. Who and where are they? Visa's chief economist discusses this trend and what it could mean for global merchants.