Report: C-store saw traffic bumps in 2012
Houston — A report released Tuesday by research company NPD Group found that the convenience store sector experienced marked gains last year, as visits increased 4.6% in the fourth quarter and grew an average of 3.7% per month for 2012.
Traffic gains were spread among all type of c-stores, according to NPD’s Convenience Store Monitor, which tracks the consumer purchasing behavior of more than 51,000 convenience store shoppers in the U.S.
Traditional c-store traffic increased 0.7%, major oil chains garnered a 3.2% growth, and small/other chains had the strongest growth in traffic at 11.5% compared to the year-ago quarter.
The afternoon daypart, between 2 p.m. and 6 p.m., continues to be the most popular daypart with slightly more than 35% of c-store shoppers visiting then, a 1.7% increase over same quarter a year ago. In addition, the afternoon daypart realized a nearly 10% growth in traffic in the quarter.
Ticket averages increased as well, as consumers spent 31 cents more in fourth quarter 2012, compared to 2011.
“Although the c-store channel outlook is positive for 2013, it remains to be seen if this continues and carries on through the coming year,” said David Portalatin, NPD c-store industry analyst. “2013 is starting out a bit challenging for consumers with the realization of the imposed payroll tax increase, severe weather, and rising gasoline prices all providing added stress, but we’ll see how the remainder of the year shakes out.”
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Capital One and Best Buy part ways
McLean, Va. — Capital One Financial Corp. said Tuesday that it will sell off its Best Buy portfolio of private-label and co-branded credit card accounts. Current loan balances total about $7 billion.
The pair is severing their ties earlier than expected – the break-even sale of the portfolio to Citi is expected to finalize in third quarter 2013.
"We have a proven, scale partnerships infrastructure and a great portfolio of partners," said Bill Cilluffo, EVP, card partnerships, Capital One. "Our partnerships business continues to deliver strong contributions to our results and serves as a platform for future growth potential.”
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Galeries Lafayette selects VeriFone for payment solutions
San Jose, Calif. — Verifone Systems said Tuesday that it has secured a deal with French department store chain Galeries Lafayette to handle its payment solutions and services over a five-year contract period.
The agreement includes managed services, software, helpdesk and 3,200 of VeriFone’s VX 820 advanced PIN acceptance devices that support credit, debit and EMV transactions, and include integrated NFC/contactlesstechnology for alternative payments.
The central component of the VeriFone solution is PAYware Wynid, a managed services platform that will encompass all Galeries Lafayette payments across the chain, including cross-border payments from the retailer’s German operation. Galeries Lafayette will also utilize VeriFone’s encryption and tokenization services to ensure the most secure payments environment.
“VeriFone was able to provide the most comprehensive payments solution to suit our needs over the foreseeable future, including encryption and tokenization of EMV payment transactions,” said Laurent Singer, director of data systems, Galeries Lafayette.
Galeries Lafayette is one of the largest retailers in France — and operator of the biggest retail store in Paris with 750 card acceptance stations.