[September 12, 2014] |
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First Data Releases August 2014 SpendTrend® Analysis
ATLANTA --(Business Wire)--
The combination of consumers soaking up the last weeks of summer before
and during Labor Day weekend and August back-to-school shopping helped
power the strongest retail spending growth in 13 months, according to
data reported today by First
Data Corporation, the global leader in payment technology and
services solutions. The First Data SpendTrend report examined the period
for Aug. 2 through Sept. 2, 2014 compared to Aug. 1 through Sept. 1,
2013. SpendTrend tracks same-store point-of-sale data by credit,
signature debit, PIN debit, EBT, closed-loop prepaid cards and checks
from nearly 4 million merchants locations serviced by First Data in the
U.S.
Driven by August vacations, leisure spending growth rebounded in August,
and at 3.3% was the strongest in six months. As summer waned,
vacationers contributed to the rise in year-over-year spending growth in
the Hotel and Travel categories, at 9.3% and 5.1% growth, respectively,
a marked improvement when compared to last month's spending growth of
7.9% and 4.6%.
Overall retail spending growth was the strongest in over a year with
retail dollar volume growth at 2.8% in August (vs. 2.6% in July), as
back-to-school shopping propelled spending growth in several retail
categories. Dollar volume growth at Furniture and Home Furnishings and
General Merchandise Stores was positive on a year-over-year basis and
increased sequentially compared to July with a growth of 4.5% and 4.4%,
respectively.
August's overall average ticket growth remained positive at 1.2%,
slipping slightly from July's 1.5% on a year-over-year basis. Gasoline
station average ticket growth fell to -2.3% compared to July's decline
of -0.2% as gasoline prices fell on both year-over-year and
month-to-month bases. Meanwhile, the average ticket growth of 0.8% was
an improvement over 0.4% last month as retailers were less aggressive
with price discounting.
"Two important factors - back-to-school spending and late summer
vacationing - contributed to strong overall consumer spending in August
and despite stagnant wage growth and a moderate housing market, consumer
confidence rose in August," said Krish Mantripragada, SVP,
Information and Analytics Solutions with First Data, adding, "robust
credit card spending at 5.8%, was healthy again last month, surpassing
both PIN and signature debit growth."
August Dollar Volume Growth
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CHANGE
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Credit
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+5.8
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%
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Signature Debit
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+1.9
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%
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PIN Debit
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+3.4
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Check
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-5.9
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%
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Prepaid
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+6.0
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%
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Note: All transactions are same-store growth.
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Processing more than 59 billion transactions globally in 2013, First
Data has long been a data powerhouse with the ability to help its
clients use transaction data to prevent fraud, identify spending
patterns and create loyalty programs.
To view infographics showing July SpendTrend data, visit: http://www.firstdata.com/spendtrend/201408/spendtrend-data-201408.png
For more information on First Data SpendTrend, visit www.spendtrend.com
or call SpendTrend Customer Care at 800-430-0169.
To participate in the SpendTrend conversation, please follow First Data
at http://twitter.com/spendtrend.
About First Data
First Data is a global technology leader in the financial services
industry. With 24,000 employee-owners and operations in 35 countries,
the company provides secure and innovative payment technology and
services to more than six million merchants and financial institutions
around the world, from Main Street shops to the world's largest
corporations. Today, businesses in nearly 70 countries trust First Data
to secure and process more than 2,000 financial transactions per
second, totaling $1.8 trillion a year. First Data's unparalleled
infrastructure, scale and partnerships go "beyond the transaction" with
next-generation point-of-sale technology fueled by powerful analytics to
detect fraud, gain insights into consumer spending, and strengthen
customer loyalty. All day, every day, First Data helps its clients
thrive in the evolving world of commerce.
First Data Spend Trend, 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.
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