Commerce Signals, a Jersey City, N.J.-based source of U.S. consumer spending insights, has announced the availability of the Commerce Signals Merchant Tracker, a credit and debit spending database providing spending data by merchant at county levels.
Officials described the new tool as “groundbreaking solution,” providing businesses better visibility on how their sales compare to other merchants, and can help improve strategic and reactive planning.
“In today’s challenging and rapidly changing environment, businesses need accurate, detailed and timely information to help them manage their resources,” said Lisa Bonalle-Hannan, president of Verisk Financial, the parent company of Commerce Signals. “With COVID-19 cases surging in some areas and local governments and schools adjusting guidance to protect their communities, county-level market share data has never been so important.”
The Merchant Tracker uses anonymized consumer credit and debit card spending dataset, which includes transactions from more than 40 million U.S. households, the company said. The data is balanced for the total U.S. population by geography and other proprietary metrics.
Spending trends using the tool can also be broken out between online and in-store sales. Retailers can access weekly views of purchases, returns, average ticket and market share, with a data cube also available for custom analysis. This new solution is a powerful tool for gathering detailed data intelligence to help businesses compare consumer spending at other merchants to improve strategic and reactive planning, Commerce Signals said.
The new solution builds on Commerce Signals recent launch of the COVID-19 Consumer Spending Impact Tracker, which provides insights into U.S. consumer spending behavior across all consumer businesses by category. The Merchant Tracker provides a powerful new level of detail by breaking down spending by individual companies at the county level. Data on more than 1500 major retailers, restaurants, telecom, travel and entertainment companies is already available.