Microsoft Advertising Insights set out to explore the impact of stimulus checks on category traffic. We analyzed search data to correlate different categories with stimulus check spending. The goal of this analysis is to inform advertisers on where consumer spend will occur with a possible third stimulus check.
Some key findings include:
- Stimulus checks were most correlated to the following categories: Retailers, Food & Groceries, and Hobbies & Leisure.
- Stimulus checks were most correlated to the following sub-categories: E-commerce (Shopping Portals) and Cost-Conscious Retailers (Coupons & Wholesalers).
- Stimulus checks were most negatively correlated to Travel & Tourism.
- Home Improvement had a peak correlation occurring two weeks later than other categories, possibly after consumers having spent money on other more time-sensitive items.
Download the insights today to read more about stimulus checks and discover how you can best use Microsoft Advertising to impact your category.