Wednesday, January 11, 2012
"Dollar volume growth on cards overall was a healthy 6.9 percent in December," First Data reported. "However, strong auto sales, driven by low interest rates, likely diverted consumer spending to car sales from other retail areas. Auto sales are not captured in SpendTrend figures."
The company noted that overall year-over-year average tickets declined 0.1 percent in December 2011 and said it was the first negative reading since January 2011. However, overall transaction growth was up 7 percent in December, and most retail merchant categories had higher sales growth in December 2011 versus November 2011.
"Consumer willingness to spend in December was based largely on the ability to find bargains, and merchants utilized steep discounting to drive traffic," said Silvio Tavares, Senior Vice President and Division Manager of First Data Global Information and Analytics Solutions, which publishes SpendTrend.
A supplementary podcast including further analysis of the report is available. For more information, visit www.firstdata.com/infoanalytics or call 800-430-0169.
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