October 11, 2011 09:00 AM Eastern Daylight Time
Credit Card Spending Growth Continued to Improve in September Due to Inflation
ATLANTA--(BUSINESS WIRE)--First Data Corporation, a global leader in electronic commerce and payment processing, today released its First Data SpendTrend® analysis for the full month of September 2011 compared to September 2010. SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations.
“Rising inflation, particularly on non-discretionary purchases such as food and gas continued to boost dollar volume growth and average ticket growth”
Overall year-over-year dollar volume growth continued to show improvement at 9.5% in September versus 9.0% in August. Transaction growth was flat at 7.1% in September compared to 7.2% in August. General merchandise stores (including value retail) continued to perform well with dollar volume growth of 9.5% in September.
Average ticket values increased 2.2% in September on a year-over-year basis, up from August’s 1.6% growth. While gas price increases have stabilized, prices for other non-discretionary goods continued to rise. Food/beverage stores (supermarket/grocery) average ticket growth rose 2.3%, up from 0.9% in August.
“Rising inflation, particularly on non-discretionary purchases such as food and gas continued to boost dollar volume growth and average ticket growth,” said Silvio Tavares, SVP and division manager of First Data Global Information and Analytics Solutions, which publishes SpendTrend.
Sept. Transaction Growth
Sept. Dollar Volume Growth
|Signature Debit||+6.0%||Signature Debit||+5.8%|
|PIN Debit||+5.8%||PIN Debit||+9.2%|
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. A supplementary podcast including further analysis of the SpendTrend September 2011 report is available here.
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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.
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.