Card Spending Growth Remained Strong in October
ATLANTA, Nov. 9, 2011 – First Data Corporation, a global leader in electronic commerce and payment processing, today released its First Data SpendTrend® analysis for the full month of October 2011 compared to October 2010. SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations.
In October, dollar volume growth held steady at 9.4% versus September’s growth of 9.5%. Overall transaction growth improved to 7.5% in October from 7.1% in September. Inflation continued to be evident in the food sector as Food/Beverage Stores posted average ticket growth of 2.3% for the second consecutive month.
“Consumers continued to spend in October,” said Silvio Tavares, SVP and division manager of First Data Global Information and Analytics Solutions, which publishes SpendTrend. “Both transaction growth and credit card spending were up significantly; indicating consumers are increasingly disposed to spending heading into the crucial holiday season.”
|Oct. Transaction Growth||CHANGE||Oct. Dollar Volume Growth||CHANGE|
|Signature Debit||+6.3%||Signature Debit||+7.6%|
|PIN Debit||+7.4%||PIN Debit||+9.9%|
|Note: All transactions are same-store growth.|
To access the full SpendTrend analysis, visit www.firstdata.com/infoanalytics or call SpendTrend Customer Care at 800-430-0169. A supplementary podcast including further analysis of the SpendTrend October 2011 report is available here.
Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive customer revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction.
Cara Crifasi, First Data
First Data SpendTrend, a macro-economic indicator, is based on aggregate same-store sales activity in the First Data Point of Sale Network. First Data SpendTrend does not represent First Data’s financial performance.