For the past few months, we have also seen many of those discretionary dollars flow away from goods. to services, especially travel, as a slow-to-start spring turned quickly into summer.

Aug 4, 2022 / CEO / receipt, needs a key / Neeraj Shah, CEO | earnings call 2022-08-04 | transcript 2f6cbdc2-8732-46df-9eee-caa0736cb19e | chars 7258-7444 | segment 7

As various geographies have reopened post-pandemic, consumers have naturally shifted some spend towards travel and entertainment and from e-commerce towards brick and mortar.

Feb 24, 2022 / CEO / receipt, needs a key / Neeraj Shah, CEO | earnings call 2022-02-24 | transcript 367441e2-ec1b-4c97-9e31-1c7eddb49dbc | chars 3452-3626 | segment 3

As various geographies have reopened post-pandemic, consumers have naturally shifted some spend towards travel and entertainment and from e-commerce towards brick and mortar.

Nov 4, 2021 / CEO / receipt, needs a key / Neeraj Shah, CEO | earnings call 2021-11-04 | transcript a3cac657-6517-446a-87bb-8b59d65d3be1 | chars 3452-3626 | segment 3