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Atlanta -- Mild weather over much of the country spurred increased retail card spending growth in January, according to First Data Corp.’s SpendTrend, which tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations.
Overall year-over-year dollar volume growth was 7.0% in January, while overall transaction growth was 7.2%. Mild winter weather nationwide resulted in lower energy demands, providing consumers with additional income to spend at retailers.
Average ticket values overall declined -0.2% in January after posting -0.1% growth in December. Credit card spending growth resumed in January after consumers closely watched their spending over the holidays.
“Retailers benefited from the mild weather in January. Reduced energy and home heating expenses combined with lower food inflation provided consumers with extra income to spend on discretionary categories such as clothing and home goods,” said Silvio Tavares, senior VP and division manager of First Data Global Information and Analytics Solutions, which publishes SpendTrend.