ATLANTA--(First Data Corporation, a global leader in electronic commerce and payment processing, today released its First Data SpendTrend® analysis for the full month of August 2012 compared to August 2011. SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations.)--
“Also, a slightly earlier Labor Day holiday this year may have shifted some purchases into August. Merchants will be watching carefully to see if consumers can sustain this positive momentum in future months.”
Consumers responded well to back-to-school and summer clearance sales in August. Year-over-year overall dollar volume growth was up 7.2%, the largest increase since March 2012. Transaction growth increased 6.5%, also a five-month high. Overall average ticket growth increased 0.6% in August. While higher gas prices contributed to the increase, most industry categories saw higher average tickets compared to July as consumers were in a more favorable mood to spend.
Dollar volume growth at general merchandise stores (including value retail) was up 11.0%, the second-largest growth in the past twelve months, as consumers flocked to these stores for back-to-school supplies. Dollar volume growth at health & personal care stores also posted strong growth of 8.0%.
“Consumer spending got a boost in August as consumers took advantage of back-to-school and seasonal clearance sales. Last year, August 2011 growth was particularly strong so the difficult comps made the results all the more impressive,” said Rikard Bandebo, vice president and economist, First Data. “Also, a slightly earlier Labor Day holiday this year may have shifted some purchases into August. Merchants will be watching carefully to see if consumers can sustain this positive momentum in future months.”
August Dollar Volume Growth
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 August 2012 report is available here.
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.