Overall retail spending growth was at its strongest levels in a year as nearly all retail categories turned in improved numbers. Led by categories such as
July's dollar volume growth of 3.9% was robust, marking an improvement over June's growth of 3.0%. A year-over-year spending uptick was driven by Hotel and Travel categories, where dollar volume growth was 7.9% and 4.6%, respectively, as travelers went on holiday around the globe. Positive growth at Food and Beverage Stores, at 5.3% and in the Food Services & Drinking places category, at 4.4%, also contributed to July's growth.
All regions across the U.S. saw positive dollar volume growth and, with the exception of
July's average ticket growth of 1.5% (vs. 0.9% in June) was the strongest monthly growth all year, supported by average ticket growth in categories such as Food and Beverage stores, which saw growth of 2.0%. Retail average ticket growth of 0.4% in July was a slight increase from June's negative growth of -.2% as fewer retailers engaged in clearance promotions.
"It is also notable that both credit spending growth, which was 6.2% in July, and credit transaction growth, at 7.5% this month, were up significantly over June growth results," said
+3.3% Note: All transactions are same-store growth. Processing more than 59 billion transactions globally in 2013, First Data has long been a data powerhouse with the ability to help its clients use transaction data to prevent fraud, identify spending patterns and create loyalty programs.
To view infographics showing July SpendTrend data, visit: http://www.firstdata.com/spendtrend/201407/spendtrend-data-201407.png.
For more information on First Data SpendTrend, visit www.spendtrend.com or call SpendTrend Customer Care at 800-430-0169.
To participate in the SpendTrend conversation, please follow First Data at http://twitter.com/spendtrend. About First Data Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive client revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction. More information about the company is available on FirstData.com as well as on Twitter,
First Data Spend Trend, a macro-economic indicator, is based on aggregate same-store sales activity in the
Keywords for this news article include: Food, Beverage, First Data.
Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC
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