FINANCE

First Data: Strong holiday shopping boosted December spending growth

BY Katherine Boccaccio

Atlanta — First Data Corp., in its SpendTrend analysis for December, reported that dollar volume grew 6.1%, which marked a significant spike compared to November’s growth of 4.4% as holiday shoppers were out in full force with no time to procrastinate due to the shortened holiday shopping season.

SpendTrend tracks same-store point-of-sale data by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks from nearly four million U.S. merchant locations serviced by First Data.

The growth was supported by extended store hours, pre-Christmas and post-Christmas, and the promotional environment that lured in last-minute, bargain-seeking shoppers. The wide year-over-year gas price discount that was seen for the past few months tightened and also helped to propel the growth higher. Gas Station dollar volume growth was 3.4%, the highest growth in five months; however, adverse weather across the Midwest and Northeast hindered shopper foot traffic and subdued the overall growth.

Retail spending growth of 3.1% jumped from last month’s growth of 1.3%. With a shortened holiday shopping timeline punctuated by winter storms, shoppers felt the pressure and increasingly stepped up retail spending as the month progressed. The healthy growth was largely supported by stronger sequential spending growth in retail categories such as Building Material & Supply Dealers, Health & Personal Care Stores and General Merchandise Stores, which saw growth of 11.1%, 4.9% and 3.6%.

Average ticket growth of 0.8% improved considerably compared to November’s growth of -0.3% as shoppers loosened their purse strings and showed an increased propensity to spend more for holiday gifts. Retail average tickets also marked a comeback with growth of 1.2% compared to 0.6% last month. Despite the healthy improvements in overall average tickets and retail average tickets, the growth slowed toward the end of the month as merchants integrated deeper discounts to attract last minute shoppers and to clear excess inventory.

“Spending growth was strong in December as shoppers were more confident and enjoyed stronger income growth compared to 2012, which encouraged consumers to open up their wallets this holiday season,” said Krish Mantripragada, senior VP, Information and Analytics Solutions, First Data. “More so, holiday shoppers were out in full force and did not have time to procrastinate due to the shortened holiday window this year. Merchants also made it easier for the consumer to shop this holiday season by providing price-matching, free shipping guarantees and expanded store hours throughout December.”

Meanwhile, spending growth on credit cards hit a four-month high in December as consumers increasingly turned to credit to fund discretionary holiday purchases.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

Claire’s selects 1010data to analyze, manage data

BY Katherine Boccaccio

New York — Big data discovery and data-sharing solution-provider 1010data said that Claire’s has chosen its cloud-based platform for big data discovery across its global businesses. 1010data allows Claire’s to integrate data from throughout its enterprise and provide a self-service analytical platform for users to derive data-driven insights and receive fast access to business results.

With over 3,000 stores serving more than three million customers in the U.S. and across Europe annually, Claire’s generates vast volumes of data from its point-of-sale, inventory, merchandising, supply chain and other enterprise systems. Claire’s continued growth has increased its need for a more extensive solution with improved data analysis capabilities.

“The amount of data our stores generate expands on a daily basis,” said Rob Cole, senior VP, Information Technologies at Claire’s. “In order to compete effectively, it is increasingly important to analyze data at a more granular level. This meant that we needed to invest in a global platform that would allow us to manage big data and easily glean insights.”

1010data allows Claire’s to not only analyze the data in its local businesses, but also share analyses with colleagues at any time from any location. Standardizing Claire’s globally on 1010data’s big data discovery platform, including business intelligence and enterprise data warehousing, has further integrated its teams worldwide while providing the insight Claire’s needs to be in tune with its local customers.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

Victoria Supermarkets and Revionics team toward price optimization

BY Katherine Boccaccio

Austin, Texas — End-to-end merchandise optimization solution-provider Revionics announced a multi-year agreement with Victoria Supermarkets for its Price Optimization solution rollout.

Victoria Supermarkets operates 83 markets in Russia and is owned by the DIXY Group, one of Russia’s largest national retail operators in the food retail market.

Revionics’ solution will enable Victoria Supermarkets to adopt a shopper-centric approach to its pricing strategies and tactics. Leveraging predictive analytics and demand-based science, Victoria Supermarkets will now have a more robust view of shoppers and competitors to drive better fact-based price decisions and respond more quickly to dynamic marketplace conditions. Revionics’ SaaS-based solution was particular attractive to Victoria Supermarkets due to its ability to enable rapid time-to-value, lower total cost of ownership and on-demand scalability.

“Through a comprehensive industry search, we found that Revionics solution would help us adopt a smarter pricing strategy that would result in not only improving our customers’ shopping experience and our price image, but also help us obtain optimal profits and margins – it’s a win win for us,” said Irana Katsiyeva, marketing director for Victoria.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...