REDWOOD CITY, Calif.,
Oct. 7, 2020 /PRNewswire/
-- Envestnet | Yodlee, (NYSE: ENV), a leading data aggregation
and analytics platform powering dynamic, cloud-based innovation for
digital financial services, launched a new interactive map to
display key trends on American consumer spending across six
industry categories. This tool provides a clear, concise visual of
consumer spending trends impacted by the ongoing COVID-19 pandemic
and an in-depth look at how the challenging public health and
economic environment is financially affecting Americans. The
insights used in the interactive map will be updated weekly.
The interactive map will feature insights on the following
spending categories:
- Retail – all retail including online marketplaces
- Discretionary – all types of discretionary categories including
electronics, entertainment, home improvement, etc.
- Grocery/Food Delivery – independent food delivery service
providers
- Food & Staples – spending at supermarkets, hypermarkets and
other food retail merchants
- Restaurants – dine-in restaurants
- Transportation – merchants that provide transportation services
via air, road or rail
The interactive spending map is part of Envestnet | Yodlee's
COVID-19 Income and Spending Trends initiative. Since the onset of
the pandemic, Envestnet | Yodlee has been regularly tracking U.S.
consumer income and spending trends to provide a powerful tool in
decision-making for businesses, individuals and the government to
make informed decisions toward helping us all navigate through the
COVID-19 crisis. Envestnet | Yodlee's COVID-19 Income and Spending
Trends utilize aggregated and de-identified data to provide
snapshots of trended patterns.
"We believe that in-depth analysis of these spending trends can
be useful to inform individuals, businesses, and government
agencies in their decision making as they continue to seek a return
to financial stability during this public health and
economic crisis," said Bill Parsons,
Group President, Data & Analytics at Envestnet | Yodlee. "As
we've seen since the start of 2020, the pandemic has had varying
degrees of regional economic impact across the United States. With our interactive map,
users are able to easily compare spending insights from all 50
states and analyze patterns and behaviors resulting from the
pandemic. These insights can help with government policies and
business strategy, and make sure we are supporting everyday
Americans."
Envestnet | Yodlee's COVID-19 Income and Spending Trends have
shed light on key spending, savings, and income trends for
Americans during this crisis. The new interactive map adds a visual
component to the insights, allowing users to easily view spending
patterns on a state-by-state basis across the six industry
categories and visualize 2020 spending trends versus 2019.
About Envestnet
Envestnet, Inc. (NYSE: ENV) is transforming the way financial
advice and wellness are delivered. Our mission is to empower
advisors and financial service providers with innovative
technology, solutions, and intelligence to make financial wellness
a reality for everyone. Over 103,000 advisors across more than
4,900 companies including 15 of the 20 largest U.S. banks, 46 of
the 50 largest wealth management and brokerage firms, over 500 of
the largest RIAs, and hundreds of FinTech companies, leverage the
Envestnet platform to grow their businesses and client
relationships.
For more information on Envestnet | Yodlee, please
visit www.yodlee.com, subscribe to our blog, and follow
us on Twitter (@Yodlee) and LinkedIn.
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SOURCE Envestnet | Yodlee