Insight Flash: Consumer Edge data Tracks AI Spending Boom and Consumer Trends
Consumer Edge U.S. Transaction Data provides visibility into spending trends at over 13,000 brands, ranging from large multinational companies to smaller newcomers across the consumer landscape. Amid the surge in popularity of AI, we examine the growth trajectory of categories and brands in this important space. Following our first AI Brand Spotlight last month, we again examine our custom categories based on the AI brands CE currently tracks, comparing observed spend between Q1 and Q2 2024.
AI Category Performance
Looking at sales growth for the brands that fall within each of the five primary AI categories, the Productivity category emerges as a clear winner, growing +13% from Q1 2024 to Q2 2024. The four other AI categories have seen a decline in spend from Q1 to Q2, with Business down -3%, Art and Video down -4%, Photo Editing down -8%, and Text Tools down -9%
AI Brand Highlights
Within these AI categories, there were some key standouts:
- Within Productivity, the brand Rewind.AI, a computer data storage and summarizing tool, saw 477% growth from Q1 to Q2.
- Despite seeing an overall decline in category-level spend, a number of individual brands within the bottom three categories still experienced growth from Q1 to Q2. Within the Business category, Replicate, a machine learning tool, had 256% growth, and Triple Whale, an e-commerce data instrument, showed 190% growth.
- The Art and Video category’s top two growing brands were CitivAI, an AI-generated art platform that had 642% growth, and Luma AI, a video production AI model that grew 610%.
- The top-growing brand within the Photo Editing category was Remini, a photo enhancer app, with sales rising 18%.
- Within the Text Tools category, the brand Hyperwrite, a digital writing assistant, had 43% growth.
Consumer Edge is the leading provider of alternative data for consumer spending behavior, and the only provider of global revenue signals. If you’d like to benefit from using CE Transact US, CE Vision, or other resources for insights, retail data, and other industry data year-round to track trends like these, reach out to schedule a demo.
About the Authors
Katherine Bjorkman is the Director of Insights for the CEIC. Explore more of her insights here and follow her on LinkedIn.
Katie Ryan is an Insights Analyst for the CEIC. Follow her on LinkedIn.