Here’s an overview of the most interesting Back to School findings based on the purchases of all Cake users.
About the data
Cake has a unique business model. The transaction data of all Cake users together are used anonymously in statistics and reports that we sell to companies. You can read exactly how this is done and what they get to see here.
The nice thing is that we share this revenue with all active Cake users. We think that’s just fair, after all, it’s about your data. That makes sense, doesn’t it?
We now already paid out more than €76,000 worth of Cake Rewards to users!
We have already processed more than 6 million transactions with a total value of more than EUR 1.7 billion. And that leads to a lot of interesting insights!
And we are also keen to share these with you. Because the better we are aware of our own behaviour, and the behaviour of others, the better we can make decisions. And that will only benefit our financial well-being!
Back to school
After a long break, the schools have been running at full capacity for almost a week now. And even though 2020 is an unusual year, the high September costs are business as usual for families with children.
Here are a few of the findings based on the purchases of all Cake users together 👇
The fact that the toys have to make way for school these days is evident from the almost halved spending on toys compared to the beginning of August.
In the past two weeks we have seen a large increase in spending in a number of categories related to the start of the new school year and the restart of hobbies. Nearly 3 times more was spent on children’s sports activities and hobbies, a large part of which are the annual membership fees of sports clubs. While clothing in general remains stable, we see that specifically on children’s clothing more than double was spent than 2 weeks earlier. Spending in the category office and stationery also grew by over 25%.
A closer look at the various retail chains reveals that the new 1 September outfits were mainly purchased from large retailers with a range on offer for the whole family. JBC almost doubled its turnover in the last 2 weeks. But Wibra, C&A, Veritas and Torfs also showed strong growth.
AVA recorded the largest growth in turnover for stationery products.
Cake users who went shopping at Torfs spent an average of around €90 there in the past 2 weeks. At JBC the average was €75, at C&A €47 and at Wibra barely €12.
If we focus more closely on stationery, we can see enormous growth in recent weeks. The number of customers is increasing, but the amount they spend is growing even more. The absolute top day for back-to-school purchases was Saturday 29 August. Not only were there 4 times as many customers on that day, but together they spent no less than 15 times as much than on 11 August. But also on Monday 31 August and Saturday 5 September the purchases were massive.
Saturday 29 August and Monday 31 August were also top days for clothing (including children’s clothing). The number of customers more than doubled compared to 11 August and together they bought about 3 times as much.
More to come
These are just a few of the insights that the combined Cake user data provides. From now on we will share these types of insights on a regular basis.
Getting a grip on your budget starts with having a good overview. Of course, you first need to know and understand where your money is going. That makes sense! And that’s where Cake helps you. Once your account is linked, the app automatically analyses your income and spending for you. You get a clear overview of all your payments: with the correct description, trader, logo, address and category. And you can see in one easy chart which categories your money goes to. But you can also edit all this information yourself. This way you make sure that everything ends up in the category you want.
Are you a journalist and would you like to know more about Cake and the analyses we do? Please contact Sophie (firstname.lastname@example.org).