Coupa Business Spend Index Illustrates the Degree to Which U.S. Businesses Continue to be Cautious about the Economy
Leveraging billions of dollars of aggregated and anonymized business spend decisions, the Coupa BSI serves as an early indicator of economic health, giving businesses insight into where the economy is going over the next three-to-six months.
Coupa BSI Findings
The Q1 2020 Coupa BSI shows that the
"The Q1 2020 Coupa BSI clearly illustrates the degree to which economic, health, and political implications continue to weigh on businesses as they evaluate their corporate spending over the next three-to-six months," said
Coronavirus' Impact on Business Spend
In addition to analyzing business spend sentiment across industries, Coupa looked at real-time purchasing patterns of select categories of goods and services to evaluate how business spending trends compared with consumer purchasing behaviors during the same time period.
Based on aggregated and anonymized transactions from the Coupa BSM Platform, the data showed that during the month of
- Businesses spent almost 33 percent more on office sanitizing supplies than during the same month last year.
- Similarly, businesses spent over 75 percent more on personal protective equipment, such as masks and gloves, year over year.
- In addition, business spend on travel and lodging decreased by 46 percent while durable goods (vehicles, appliances, electrical and lab equipment) decreased by 21 percent.
- Finally, property, building, and engineering services decreased by 62 percent and transportation, logistics, and fuel spending decreased by 58 percent year over year.
To continue to show how industries are being impacted in real time, Coupa is monitoring the effects of the Coronavirus outbreak on businesses with monthly updates on our blog until further notice.
To view the Q1 2020 Coupa BSI, visit www.spendindex.com.
The Coupa BSI Methodology
The Coupa BSI is an early indicator of potential economic growth based on current business spending decisions of hundreds of
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Stefanie Gordish, email@example.com, 415-590-9722