Atlanta, GA (PRWEB) May 09, 2013
First Data Corporation, a global leader in electronic commerce and payment processing, today released its First Data SpendTrend® analysis for April 2-29, 2013 compared to April 3-30, 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.
Year-over-year dollar volume growth increased 5.1% in April, a slowdown from March’s 6.0% growth. Dollar volume growth at Gasoline Stations was down to -5.1% in April. Excluding Gasoline Stations, overall dollar volume growth would have been on par with March’s growth. The earlier Easter holiday may also have contributed a little to the slower growth this month.
Year-over-year Retail dollar volume growth was 4.3% in April, up slightly from March’s 3.9% increase. Building Material & Garden Equipment & Supply Dealers and Furniture & Home Furnishings Stores posted healthy increases in April.
Year-over-year average ticket growth was 0.4% in April, a slowdown from March’s 1.8% increase. Lower year-over-year gas prices was again a significant factor as average ticket values at Gasoline Stations were down -6.6% in April, the largest decline in more than three years. Average ticket growth at Retail merchants remained healthy, posting a 2.9% increase.
“We saw falling gas prices having a big impact on consumer spending in April,” said Rikard Bandebo, vice president and economist, First Data. “As consumers appeared to pocket the savings on gas rather than funneling that extra cash into discretionary spending areas, the impact was to dampen overall consumer spending in April. We also saw that card spending growth was slower in the second half of the month and consumers continued to show a preference for spending on credit.”
April Dollar Volume Growth CHANGE
Signature Debit +5.2%
PIN Debit +0.7%
Closed-Loop Prepaid +4.7%
Note: All transactions are same-store growth.
For more information on First Data SpendTrend, visit http://www.spendtrend.com or call SpendTrend Customer Care at 800-430-0169. A supplementary podcast including further analysis of the SpendTrend April 2013 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. More information about the company is available on FirstData.com as well as on Twitter, LinkedIn, Facebook and YouTube.
Cara Crifasi, First Data
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.