Inflation continues to cut into consumer spending power; however, movie theaters and beauty retailers and spas are showing unexpected growth in the current economy, according to data by Placer.ai.
Visits to movie theaters are increasing substantially over the past few months. Monthly visits to movie theaters were down 15 percent in April compared with a March 2022 baseline, but up 47 percent in June and up 72 percent in July.
And during July, visits to beauty stores were up 4.5 percent year-over-year, and up 27 percent compared with 2019.
The success of movie theaters and of the beauty and spa category indicates that consumers are still willing to spend money on nonessential goods and services. So, while overall spending may be slowing down, people still want to treat themselves, and businesses that can provide consumers with gratifying entertainment,