Consumer Spending Grows in April, but at a Slower Pace:
Same-Store Dollar Volume up 10.2%, Same-Store Transactions up 9.0%
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 |
|---|---|
| Credit | +2.1% |
| Signature Debit | +12.2% |
| PIN Debit | +12.2% |
| EBT | +3.7% |
| Total Transactions | +9.0% |
| Note: All transactions are same store growth. | |
Additional insights from the SpendTrend April 2010 report can be accessed here.
Media Relations Contact:
Cara Crifasi, First Data
303-967-6367
cara.crifasi@firstdata.com
Investor Relations Contact:
Silvio Tavares, First Data
404-890-2248
silvio.tavares@firstdata.com
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.