First Data Corporation, a global leader in electronic commerce and payment processing, today released its First Data SpendTrend™ analysis for the full month of February 2010 compared to February 2009. SpendTrend tracks same-store consumer spending via credit, signature debit, PIN debit and EBT cards at U.S. merchant locations.
Despite severe winter weather in several key metropolitan areas, same-store dollar volume was up 8.4% (7.4% excluding gasoline stations) with employment showing signs of stabilization. Average tickets were up 1.4%, the first year-over-year increase since July 2008.
As consumers spent more and saved less during the month, their discretionary purchases increased at general merchandise stores including value retailers. Same-store dollar volume growth for retail merchants overall increased to 8.0% in February, up from 5.4% in January, representing the highest monthly growth rate in more than two years.
Read the entire SpendTrend here.