Discounts Drove Solid Card Spending Growth in Early December
ATLANTA, Dec. 21, 2011 – First Data Corporation, a global leader in electronic commerce and payment processing, today released its First Data SpendTrend® Mid-Month Flash analysis for the first half of December 2011 compared to the same period in December 2010. SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations.
For the first two weeks of December 2011, overall dollar volume growth was steady compared to November levels. Card spending growth was stronger than this period last year. Retail dollar volume and transaction growth were both up from November. Among retail categories, clothing/accessory and general merchandise stores posted healthy dollar volume growth in early December and were up significantly from November.
As consumers continued their holiday shopping, they were more willing to utilize credit. Merchant discounting and improved consumer confidence drove consumers to put purchases on credit cards and propelled credit growth rates close to double-digit levels.
“Historically, there has been some slowing in spending between Black Friday and the last week before Christmas. This year we did not see that occur as consumers kept spending on discounted goods,” said Silvio Tavares, SVP and division manager of First Data Global Information and Analytics Solutions, which publishes SpendTrend.
For more information on First Data SpendTrend, visit www.firstdata.com/infoanalytics or call SpendTrend Customer Care at 800-430-0169. To participate in the SpendTrend conversation, please follow First Data at http://twitter.com/FirstData and join us at http://on.fb.me/spendtrend.
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.