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First Data releases SpendTrend analysis for August

September 11, 2013

Payment processing company First Data Corp. has released its SpendTrend analysis for August 1-30, 2013 compared with the same period in, 2012. Dollar volume growth for the month was 7.3 percent, down slightly from July's 7.7 percent, attributable to a drop in fuel prices.

"Consumer spending growth continued its positive momentum into August largely due to strong back-to-school sales and the sales tax holidays," said Krish Mantripragada, SVP of information and analytics solutions at First Data. "Lower year-over-year gas prices helped drive an increase in discretionary spending, which contributed to continued credit card growth over debit card."

Retail dollar volume growth of 5.5 percent in August was up 1.1 percent from July, as consumers focused on back-to-school shopping. Dollar volume growth at general merchandise and clothing stores improved 4 percent and 2.7 percent, respectively.

Spending at building material and supply dealers rose to 13.1 percent with continued momentum in the housing market.

Overall average ticket growth was down slightly for the month — 0.8 percent compared with 1.1 percent in July — again due to lower gas prices. last month's growth of 1.1 percent. But retail average ticket growth improved to 1.7 percent over 1 percent growth in July, as retailers in most categories were generally less aggressive with discounting. 

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