First Data has released its First Data SpendTrend analysis for the full month of October 2012 compared to October 2011.
Dollar volume growth of 6.7% in October was healthy as shoppers became less pessimistic about the economy. Improved consumer sentiment and a pullback in savings continued to support spend. Meanwhile, transaction growth slipped to 5.9% in October compared to 6.3% in September. Average ticket growth was 0.8% in October, a reversal from September’s -0.5% growth. Several retail categories experienced improved average tickets from September due to a slight rise in prices. However, a sharp increase in average ticket growth at retailers indicates that consumers have also shown an increased tendency to spend more.
SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations.