November Card Spending Growth Solid at 7.3%
ATLANTA, Dec. 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 November 2011 compared to November 2010. SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations.
Overall year-over-year dollar volume growth was up 7.3% in November, down from October’s 9.4% growth. November 2011 had tough comparables as November 2010 was a particularly strong month, with dollar volume growth up 8.1%. November 2011 transaction growth was 6.1%.
Consumers anticipated Black Friday sales and restrained spending earlier in the month. Retailers were reluctant to slash prices in November until planned Black Friday promotions began. Overall year-over-year average ticket growth was 1.1% for the month, down from October’s growth of 1.8% and the smallest increase since July 2011. Moderating inflation levels contributed to the slowdown in average ticket growth.
“Despite a good Thanksgiving/Black Friday, year-over-year spending growth was only moderate for the full month of November,” said Silvio Tavares, SVP and division manager of First Data Global Information and Analytics Solutions, which publishes SpendTrend. “Consumers restrained their spending until Black Friday promotions began and appear focused on value this holiday season.”
|Nov. Transaction Growth||CHANGE||Nov. Dollar Volume Growth||CHANGE|
|Signature Debit||+6.4%||Signature Debit||+7.3%|
|PIN Debit||+7.3%||PIN Debit||+7.6%|
|Note: All transactions are same-store growth.|
For more information on First Data SpendTrend, visit www.firstdata.com/infoanalytics or call SpendTrend Customer Care at 800-430-0169. A supplementary podcast including further analysis of the SpendTrend November 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.
Elizabeth Grice, 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.