ATLANTA--(BUSINESS WIRE)--First Data Corporation, a global leader in electronic commerce and payment processing, today released its First Data SpendTrend® analysis for May 1-31, 2013 compared to May 1-31, 2012. SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations.
Dollar volume growth increased 6.0% in May compared to April’s 5.1% growth. The warmer weather across the nation supported shopper foot-traffic and drove purchases of spring and outdoor seasonal merchandise. Equity and housing markets also strengthened in May, which provided consumers with more confidence to spend. Transaction growth jumped to 5.8% in May, the highest growth since November 2012.
Retail dollar volume growth was 5.5% in May, a spike from last month’s 4.3% growth. For the first time since January 2013, all retail categories saw positive year-over-year dollar volume growth. The mild weather was a catalyst for growth at Clothing and Clothing Accessories Stores and the continued momentum in the housing markets drove growth at Building Material & Garden Equipment Dealers.
Average ticket growth of 0.2% in May marked a slight drop compared to April’s growth of 0.4%. Retail average ticket growth also slipped slightly and saw growth of 2.4%. Meanwhile, General Merchandise average ticket growth slowed year-over-year and marked the slowest growth since October 2012 as this segment aggressively engaged in discounting to move spring related merchandise.
“The combination of warmer weather, lower gas prices, an increase in home prices and a record-breaking stock market encouraged shoppers to spend in May,” said Krish Mantripragada, SVP, Information and Analytics Solutions, First Data. “Credit card dollar volume & transaction growth accelerated and continued to surpass both PIN and Signature Debit growth. Overall healthy spending growth points toward encouraging consumer resiliency and increased confidence.”
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May Dollar Volume Growth |
CHANGE |
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| Credit | +7.5% | ||
| Signature Debit | +6.9% | ||
| PIN Debit | +2.4% | ||
| Check | –4.1% | ||
| Prepaid | +8.3% | ||
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Note: All transactions are same-store growth. |
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For more information on First Data SpendTrend, visit www.spendtrend.com or call SpendTrend Customer Care at 800-430-0169.
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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. More information about the company is available on FirstData.com as well as on Twitter, LinkedIn, Facebook and YouTube.
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.
