Consumer Spending Grows in April, but at a Slower Pace:
Same-Store Dollar Volume up 10.2%, Same-Store Transactions up 9.0%
ATLANTA, May 11, 2010 (AllPayNews) – First Data Corporation, a global leader in electronic commerce and payment processing, today released its First Data SpendTrend™ analysis for the full month of April 2010 compared to April 2009. SpendTrend tracks same-store consumer spending via credit, signature debit, PIN debit and EBT cards at U.S. merchant locations.
Consumer spending continued in April, albeit at a slower pace, resulting in a second consecutive month of double digit volume growth. Same-store dollar volume growth was 10.2% (8.8% excluding Gasoline Stations) and transaction growth was 9.0% (8.4% excluding Gasoline Stations), following 11.5% and 10.1%, respectively, in March. Consumers continued to spend their savings and cash-on-hand. Year-over-year credit utilization increased slightly but remained at subdued levels. Average tickets held steady up 1.1%. Excluding gasoline stations, average ticket growth was 0.4%
Transaction growth improved, but April was not as strong as March. Year-over-year same-store transaction growth was 9.0%, but most categories posted slight declines in growth compared to March. Leisure’s transaction growth dropped significantly to 7.7%, down from March’s growth rate of 16.0%. Leisure’s robust transaction growth in March was due to spring break and holiday travel. Food Services/Drinking Places (incl. Restaurants/QSR) maintained steady transaction growth month-over-month with growth of 9.8% in April compared to 10.2% in March.
As the economy showed signs of improvement, consumers chose PIN debit over all other card payment types. PIN debit same-store transaction growth was 12.2% and dollar volume growth was 16.3%, surpassing all other payment card types during the month.
April Card Based Transactions CHANGE
Signature Debit +12.2%
PIN Debit +12.2%
Total Transactions +9.0%
Note: All transactions are same store growth.
Additional insights from the SpendTrend April 2010 report can be accessed here.
SpendTrend™ April 2010
Media Relations Contact:
Cara Crifasi, First Data
Investor Relations Contact:
Silvio Tavares, 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