First Data Holiday 2016 SpendTrend® Report Reveals Strong Consumer Spending Growth
January 09 2017 - 9:00AM
Business Wire
Overall spend increased 4.7% year-over-year
compared to 1.8% in 2015
For retail categories, spend was up 3.6%
year-over-year compared to an increase of 3.3% in 2015
Shoppers continue to gravitate online, with
retail eCommerce transactions increasing 12% year-over-year
Today First Data (NYSE: FDC) released its Holiday 2016
SpendTrend report, which found that overall consumer spending
growth increased 4.7%. Whether using a PC, tablet or mobile device,
Americans continued the recent trend of making their holiday
purchases online as retail eCommerce transactions grew by 12%.
Additionally, more than one fifth (21.3%) of all holiday spending
was conducted online, a substantial increase from 15.4% last
year.
While overall spending was up year-over-year this holiday
season, some retailers were left in the cold. Retail spending
increased 3.6% year-over-year, but department stores and clothing
& accessories retailers took a hit. Department stores, in
particular, were down 4.8% overall while clothing and accessories
saw modest growth of 0.1%. Women’s ready-to-wear retailers saw a
decline of 3.7% in year-over-year growth. Electronics and
appliances, on the other hand, saw significant growth this year, up
8.5% overall compared to being down 2.2% during the holidays last
year.
“Consumers were actively spending this holiday season with
overall growth up 4.7%. However, retail stores had mixed results,
with some categories posting high growth rates while others lagged
behind,” said Rishi Chhabra, VP, Information & Analytics at
First Data. “We continue to see a strong shift to online shopping
and were impressed with the significant growth in eCommerce
transactions. More and more, shoppers are opting to stay home to
avoid the crowds and make purchases on their own time.”
Although eCommerce spending surged this year, retail brick and
mortar growth was also up slightly, posting 1.6% year-over-year
growth. That growth rate was primarily driven by spending in the
West and Midwest regions of the United States. The Southwest
experienced a decline in growth rates as it was down 0.6% in retail
spend.
All data referenced in the report is First Data proprietary
transaction data and includes only actual card-based forms of
payment. Nearly one million merchant locations across the United
States were included in the analysis, which represent the number of
stores open for business from October 29, 2016 through January 2,
2017 that have been serviced by First Data for at least 13 months.
These locations include everything from mom-and-pop shops to large
retailers, both brick-and-mortar and online.
For more information on the First Data Holiday 2016 SpendTrend
report, including average ticket size, spending across all retail
categories, and a deeper regional analysis, please visit the
website.
DISCLAIMER: First Data SpendTrend Report, a macro-economic
indicator, is based on aggregate same-store sales activity in the
First Data Point-of-Sale Network. Same-store sales methodology
focuses on consumer spending activity and economic growth. First
Data SpendTrend Report does not indicate or represent First Data’s
financial performance.
About First Data
First Data (NYSE: FDC) is a global leader in commerce-enabling
technology and solutions, serving approximately six million
business locations and 4,000 financial institutions in 118
countries around the world. The company’s 24,000 owner-associates
are dedicated to helping companies, from start-ups to the world’s
largest corporations, conduct commerce every day by securing and
processing more than 2,500 transactions per second and $1.9
trillion per year.
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First DataLiidia
Liuksila212-515-0174Liidia.Liuksila@FirstData.com
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