Business Spend Trends
Spend Trends by Expensify takes you behind the scenes for insights into the spending breakdown patterns that defined a year that was, dare we say… unprecedented.
Business as Usual
2020 started with no surprises. Travelers hit the road in droves, largely at the tap of a button in their favorite rideshare apps. They filled hotels, grabbed lattes to-go, and enjoyed two-day delivery, even before staying home was cool.
MOST POPULAR EXPENSES IN Q1 BY VOLUME OF RECEIPTS
Travel Takes a Nosedive
Unsurprisingly, the airline industry was the first to see the pandemic’s effects, with travel decreasing heavily starting in March:
AIRLINE RECEIPTS IN FIRST QUARTER
Remote Work Becomes the New Norm
Work-leisure wear was in full force by April and businesses adopted apps that could keep their employees connected from a distance— with or without pants on. This ushered in what will forever be known in history books as the Zoom Boom:
ZOOM RECEIPTS BY QUARTER
While some businesses preferred video chat, others opted to connect over a different kind of dial-up: the phone. By the end of Q3, Verizon came out on top as the most expensed cell provider in the US:
PHONE RECEIPTS BY CARRIER
Stuck at home for the long haul, more people ordered food deliveries from their favorite restaurants than ever before. (FYI, Chipotle was a massive hit for Expensify employees.) Two apps in particular – DoorDash and Uber Eats – snagged the largest slices of the quarantine pie.
DOORDASH RECEIPTS BY QUARTER
UBER EATS RECEIPTS BY QUARTER
Looking Up
On the flip side, flights sharply declined after Q1 as stay-at-home orders continued and in-person meetings remained virtual. But by Q3 and Q4, business travel showed glimmers of hope as the airline industry started (very) slowly crawling back. Let’s zoom out here and take a look at the full year in airline receipts.
AIRLINE RECEIPTS NUMBER OF RECEIPTS BY QUARTER
To close things out, let’s revisit those top 10 most popular expenses from the beginning of 2020. How did the spend trends change throughout the year? Well, e-commerce and other retailers took top placement away from rideshare apps, hotels are nowhere to be seen, and shipping services rounded out the list.
MOST POPULAR EXPENSES IN Q4 BY VOLUME OF RECEIPTS
No matter what this next year might bring, it’s safe to say that ditching the traditional office for remote work and ordering everything at the tap of a finger is here to stay. Anyways, here’s to a brighter 2021!
For more background, check out our breakdown of 2019 spending and expense management trends here.
