6:43 a.m. CST, December 5, 2011
Credit cards are making a comeback.
At the end of 2008, more consumers were using debit cards than credit cards but now that trend has reversed, said Silvio Tavares, senior vice president at First Data.
“Credit is back in favor,” he said. “Consumers have spent the last couple of years de-leveraging and reducing credit card use, but during the past month — and since April [of this year] — they’ve been using their credit cards more and are starting to return to pre-recession buying habits.”
Purchases made with credit cards rose 8.2 percent in the first quarter of 2011, 9 percent in the second quarter and 10.6 percent in the third quarter, according to First Data. That compares with gains in debit card use of 9.6 percent, 8.3 percent and 5.9 percent for the same quarters.
Click here to read full article: http://www.chicagotribune.com/business/breaking/chi-credit-card-use-is-on-the-rise-20111205,0,1416388.story
Black Friday Boosted By Early Openings, Cyber Monday Surges on Big Discounts
ATLANTA, Nov. 30, 2011 – First Data Corporation released its First Data SpendTrend analysis for Black Friday 2011 compared to Black Friday 2010. SpendTrend tracks same-store consumer spending via credit, signature debit, PIN debit and EBT cards at U.S. merchant locations.
Enticed by earlier store openings, consumers responded by spending more. Significant spending actually started Thanksgiving Day, in advance of Black Friday. Retail year-over-year dollar volume growth on Thursday-Friday was 6.3% and transaction growth was 7.3%. This performance was especially impressive in light of tough comparables for Black Friday 2010, when dollar volume growth was quite strong. Some merchant categories that saw a boost in dollar volume growth this year were Electronic/Appliances, Clothing and Accessory Stores, and NonStore Retailers. Cyber Monday continued the spending trend of the Thanksgiving weekend, with eCommerce year-over-year dollar volume growth of nearly 20.0%.
Click here to read more: http://www.firstdata.com/en_us/about-first-data/media/press-releases/11_30_11.html