Consumer Payment Card News

Pre-Holiday Spending

Overall retail spending on credit and debit cards has been running about 9.5% above year-ago levels but slipped to just a 1.4% gain last week as the nation gears up for the official start of the 2005 holiday shopping season next week. This year consumers are shifting more of their spending to plastic cards as risky cash and old-school check writing fade away. Credit and debit card use at fast food establishments rose 62% and overall consumer debit card increased 15%, according to data from VISA USA’s “Holiday SpendTrak” report for the week ending November 1t3h. Total spending by consumers and businesses on VISA-branded payment cards rose to approximately $23.3 billion last week, a 12% increase over the same period in 2004. VISA says the figures point to a moderate to strong holiday season. Among retail segments, “Home & Garden” was up 13% and “Specialty Retail/Gift/Hobby” volume climbed 10% over one-year ago. VISA cards currently represent 15% of total “Personal Consumption Expenditure” in the USA.

table{margin-left: auto; margin-right: auto;}.
|_2. VISA RETAIL SEGMENTS |
|_2. (Nov 7-13) |
|_. Home & Garden | +13% |
|_. Specialty | +10% |
|_. Department | + 4% |
|_. Discount | – 8% |
|_. Entertainment | – 7% |
|_. Mail & Phone | – 9% |
|_2. Source: VISA SpendTrak |

Leave A Reply