Dollar Volume Growth Held Steady at 8.0% in April Despite Continued Pressure From Rising Gas Prices
ATLANTA , May 10, 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 April 2011 compared to April 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 transaction and dollar volume growth held steady in April. Transaction growth was 6.7% , identical to March’s growth. Dollar volume growth was 8.0% versus 8.1% in March. However, excluding gasoline stations, April dollar volume growth was 6.7% . Rising gas prices and a late Easter contributed to the steady growth in April.
Consumers continued to spend in April, but they are likely beginning to feel the effects of rising gasoline and food prices. As consumers refocus on value, general merchandise stores (including value retail) saw the largest increase in growth in seven months. Year-over-year overall average tickets increased 1.3% , the same level as March. However, the impact of gasoline prices on overall average ticket growth increased in April. Excluding gasoline stations, average tickets were up only 0.5% , compared to 0.7% in March.
“April was a solid month for consumer spending but rising food and gasoline prices may be beginning to erode the discretionary purchasing power of U.S. consumers,” said Silvio Tavares, SVP and division manager of First Data Information and Analytics Solutions.
April Transaction Growth CHANGE April Dollar Volume Growth CHANGE
Credit +4.6% Credit +7.4%
Signature Debit +9.5% Signature Debit +9.9%
PIN Debit +4.8% PIN Debit +7.2%
Check -9.4% Check -1.2%
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.
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.