Black Friday Boosted By Early Openings, Cyber Monday Surges on Big Discounts
ATLANTA, Nov. 30, 2011 - First Data Corporation, a global leader in electronic commerce and payment processing, today released its First Data SpendTrend analysis for Black Friday 2011 compared to Black Friday 2010. SpendTrend tracks same-store consumer spending via credit, signature debit, PIN debit and EBT cards at U.S. merchant locations.
Enticed by earlier store openings, consumers responded by spending more. Significant spending actually started Thanksgiving Day, in advance of Black Friday. Retail year-over-year dollar volume growth on Thursday-Friday was 6.3% and transaction growth was 7.3%. This performance was especially impressive in light of tough comparables for Black Friday 2010, when dollar volume growth was quite strong. Some merchant categories that saw a boost in dollar volume growth this year were Electronic/Appliances, Clothing and Accessory Stores, and NonStore Retailers. Cyber Monday continued the spending trend of the Thanksgiving weekend, with eCommerce year-over-year dollar volume growth of nearly 20.0%.
The attractive promotions offered by many retailers resulted in lower average ticket values. Overall year-over-year average ticket growth was 0.7%, while average ticket growth at Retailers declined 0.9%. Significant discounting at Electronic/Appliances stores and General Merchandise Stores (incl. Value Retail) were the main contributors to the lower average ticket growth within the Retail category.
Non-Retail discretionary merchants did quite well also. Food Service/Drinking Places (including Restaurants and Quick Service Restaurants) dollar volume growth was 11.7%, versus 9.6% last year. Leisure saw a big improvement versus last year’s growth of -1.5%, with dollar volume growth of 12.5%. Travel also posted healthy dollar volume growth of 14.9%.
“The holiday spending season is off to a good solid start. Consumers definitely responded to the early openings and discount prices on Black Friday.” said Silvio Tavares, SVP and division manager of First Data Global Information and Analytics Solutions, which publishes SpendTrend. “We continued to see strong momentum through Cyber Monday.”
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 Black Friday 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.
Nancy Etheredge, 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.