First Data Analyzes November Consumer Spending
First Data Corporation, a global leader in electronic commerce and payment processing, today released its First Data SpendTrend Mid Month Flash analysis for the first half of November 2010 compared to the same period in November 2009. SpendTrend tracks same-store consumer spending via credit, signature debit, PIN debit, and EBT cards at U.S.merchant locations.
In early November, card spending dollar volume growth improved from October due in part to consumers getting a jump start on holiday shopping. As dollar volume growth improved, so did average tickets. Transaction growth remained steady compared to October. Early bird holiday specials led to increased spending growth so far this month compared to October.
During the first half of November, average ticket growth improved from October but year-over-year growth remained negative.
Retailers benefited from aggressive advertising in early November as consumers were drawn to stores by early pre-holiday promotions. Merchants heavily promoted holiday deals, which resulted in retailers posting improved dollar volume, transaction, and average ticket growth compared to October. Some retail sub-categories saw year-over-year growth rates double compared to October.