FIRST DATA SPENDTREND® November 2012: November Card Spending Growth Solid Despite Tough Year-Over-Year Comparables
Dollar Volume Growth Healthy But Down From October. Dollar volume growth remained solid at 5.8% in November, down from 6.7% in October. The growth was healthy as November 2011 was a strong month with dollar volume growth of 7.3%. The growth was due to a spike in spending at General Retailers during the latter half of the month. Although Black Friday retail spending was weaker this year with growth at 8.3% compared to 9.7% last year, overall November dollar volume growth still performed well.
Thanksgiving Shopping Weekend Boosted Retail Growth. Most retailers experienced healthy year-over-year dollar volume growth. Overall General Retail dollar volume growth was 5.4%, a three month high and a significant jump compared to the 3.2% growth in October.
Credit Dollar Volume Growth Remained Strong In November. Despite a sequential slowdown in growth, credit dollar volume growth remained solid in November at 6.8% and led both PIN debit and signature debit growth of 5.3% and 4.8%. The growth in credit was largely driven by strong spending at General Retailers where credit cards are the preferred payment method.
Average Ticket Growth Returned To Negative Territory. Year-over-year average ticket growth was -0.2% in November, down from October’s growth of 0.8%. However, General Retail average ticket growth continued to improve at 2.3% which reflects the strengthening position of retail as some merchants were less inclined to drive sales at the expense of margins.
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