Consumer Spending Data

What is Consumer Spending Data?

Consumer spending data is similar to other datasets that are about consumer transactions. It records what an individual has spent money on, as well as other information, such as how often they made purchases, whether they shopped at the same store or bought the same product twice. It can provide insights into an individual person’s spending habits which is very useful for businesses and marketing campaigns.

How is Consumer Spending Data collected?

Whenever you make a transaction, all kinds of consumer spending data is recorded. Transaction records and receipts are the main sources of consumer spending data because it tells you lots of basic information: what was purchased, how much it cost, what store it was bought from, when etc.
Additional sources that are used to collect this data are website cookies, rewards/promo codes and loyalty programs as well as registration and checkout details.
All of this information can be used to create a comprehensive picture of the consumer and their spending habits.

What are the attributes of Consumer Spending Data?

Basic consumer spending data will include information about the amount of money spent on a transaction, when and where the purchase was made. Other easily-available information can be customer loyalty, consumer demographics as well as customer spending habits (do they use discount/promo codes, how often do they request refunds or make returns). This data can also be ued to create a consumer spending profile - it can tell you how often they shop, where, and what kind of purchases they tend to make.
Depending on what the site records, consumer spending data could also include personal details about the customer, such as their name, phone number, email address etc. This is often dependant on whether they agree to enter these details, but site registration can be a key provider of consumer spending data.

What is Consumer Spending Data used for?

Businesses and marketers rely heavily on consumer spending to tailor their products and advertising campaigns to the right customers. They can also use it for customer service improvement or marketing analysis. By evaluating a customer’s typical spending track record, businesses can predict what they are likely to buy next and ensure that their products appeal.

How can a user assess the quality of Consumer Spending Data?

The quality of consumer spending data can be assessed by ensuring that it fits your businesses needs. The best consumer spending datasets will provide relevant information that is consistently updated so that you can get the most comprehensive insight possible into your customers’ spending habits.
Before buying spending marketing data, always check the data provider’s reviews. Lastly, ask for a data sample before you buy from a provider to ensure that their consumer spending data is of the quality your business needs.

Who are the best Consumer Spending Data providers?

Finding the right Consumer Spending Data provider for you really depends on your unique use case and data requirements, including budget and geographical coverage. Popular Consumer Spending Data providers that you might want to buy Consumer Spending Data from are Facteus, RIWI Data, Fable Data, Geowize, and Affinity Solutions.

Where can I buy Consumer Spending Data?

Data providers and vendors listed on Datarade sell Consumer Spending Data products and samples. Popular Consumer Spending Data products and datasets available on our platform are UK Consumer High-Frequency Loans Data by Money Dashboard, US Consumer Card Payments by Facteus, and U.S.A Real-Time Economic Data Steam (jobs, income, consumer confidence) by RIWI Data.

How can I get Consumer Spending Data?

You can get Consumer Spending Data via a range of delivery methods - the right one for you depends on your use case. For example, historical Consumer Spending Data is usually available to download in bulk and delivered using an S3 bucket. On the other hand, if your use case is time-critical, you can buy real-time Consumer Spending Data APIs, feeds and streams to download the most up-to-date intelligence.

What are similar data types to Consumer Spending Data?

Consumer Spending Data is similar to Consumer Review Data , Product Data, Ecommerce Data, CPG Data, and Shopper Data. These data categories are commonly used for Pricing Strategy and Consumer Spending Data analytics.

What are the most common use cases for Consumer Spending Data?

The top use cases for Consumer Spending Data are Pricing Strategy.