Sensibill’s Barcode Report Explores Consumer Tech-Related Spending Trends Throughout the Pandemic

Sensibill, the only customer data platform designed specifically for the financial services industry, shares this month’s Barcode Report on consumer spending trends related to tech and computer accessories, leveraging customer spend data, including SKU-level data and transactions, to uncover the deepest and most relevant insights into consumer spending.

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.@getsensibill analyzes consumers’ spend #data to show how their technology needs have shifted both personally and professionally during the pandemic. Read more in this month’s Barcode Report.

The Barcode Report transforms customer spend data derived from financial documents into consumable and actionable insights that organizations can leverage to better understand their spending habits and behaviors. Sensibill has amassed a database of transactions from 220,000 merchants worldwide, including 96% of the top 100 in the U.S. Of these merchants, the company has extracted more than 6 million unique SKUs across 32 different countries, developing more than 6,000 unique product categories. In this report, Sensibill analyzed millions of receipts from U.S. and Canadian consumers to show how technology needs have shifted throughout the pandemic.

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Key Highlights & Trends

• U.S.
  • In 2021, average consumer spend on computer accessories such as keyboards, mice, etc. was approximately 4 times more than faxes and printers, and approximately 10 times more than laptops.
  • While laptops, iPads and tablets, and phones and phone accessories, maintained top priority throughout 2021, consumers replaced fitness gadget purchases with fax and printer purchases in their top five spend categories. During the initial crisis of the pandemic, consumer spending on smart home devices increased 10 times, and became one of the top five popular spend categories.
  • The likelihood of purchasing a TV console and a TV mount increases by 10% if the consumer has previously purchased an iPhone.
• Canada:
  • Although the drop in consumer spend in 2021 is approximately 1.2 times more than 2020, consumer spend on electronic services for home office setups and fitness gadgets still increased compared to 2020. In 2021, consumer spend on desktops increased by 73% and computer accessories by 28%, while fitness gadgets increased by 27%.
  • Consumer spend on gaming accessories increased by 25% since the pandemic started and is the most popular consumer electronics category, while consumer spend on laptops increased by 30% during the same period.
  • For smaller tech accessories, the likelihood of purchasing earbuds and USB cables increased by 10% and 11% respectively, if the consumer had previously purchased an Xbox.

Izabella Gabowicz, Chief Operating Officer at Sensibill, said, “By analyzing tech-related spending trends, companies can understand how customers’ technology needs have shifted throughout the pandemic. More than ever before, consumers have had to rely on technology as a primary source of connection in both their personal and professional lives. Knowing consumers’ homes are now more equipped with the necessary technology for remote work may prompt companies to reevaluate return-to-work policies, hybrid working models and office spaces.”

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