SpendTrend report shows slowed card spending growth
Atlanta A report released Tuesday by First Data Corp. found that October’s same-store dollar volume growth in spending via credit, signature debit, PIN debit and EBT cards was 6.7% and transaction growth was 8.6%.
According to the First Data SpendTrend analysis for the full month of October 2010 compared with October 2009, consumers remained concerned about the economy and high levels of unemployment. According to First Data, October 2009 marked the beginning of the recovery last year. In October 2010, the comparisons to 2009 became more difficult.
Overall average tickets were down -1.7%, representing the fifth consecutive month of negative average ticket growth and the lowest since November 2009. In October, the absolute average ticket value was lower compared with the prior month. Most major merchant categories contributed to the overall decline.
Transaction growth across all major payment types slowed from September as consumers were focused on the elections. October marked the third month in a row of slower year-over-year PIN debit transaction growth. One possible factor that contributed to the slower growth of PIN debit, according to the report, was the implementation of Regulation E, which requires banks to decline debit transactions at the point-of-sale for customers who have not opted in for overdraft protection.
GSMA announces latest speaker lineup for Mobile World Congress
LONDON The GSMA announced that the CEOs of Intel, Microsoft, Nokia, NTT DoCoMo, RIM, SoftBank and Yahoo! will be making keynote speeches at Mobile World Congress, which will be held Feb. 14 to 17, 2011 in Barcelona.
“The 2011 Mobile World Congress features an unparalleled lineup of keynote speakers from companies spanning the full mobile communications ecosystem,” said Michael O’Hara, chief marketing officer, GSMA. “Attendees will have access to the individuals and organisations who are leading the mobile transformation, gaining important perspectives and insights on the future of communications.”
Recently confirmed Mobile World Congress keynote speakers are:
* Paul Otellini, president and CEO, Intel * Steve Ballmer, CEO, Microsoft * Stephen Elop, president and CEO, Nokia * Ryuji Yamada, president and CEO, NTT DoCoMo * Jim Balsillie, co-CEO, Research In Motion * Masayoshi Son, chairman and CEO, SoftBank * Carol Bartz, CEO, Yahoo!
Previously announced speakers include:
* Daniel Hajj, CEO, America Movil and Telcel * Randall Stephenson, chairman, CEO and president, AT&T * Li Yue, president and CEO, China Mobile * Eric Schmidt, chairman and CEO, Google * Peter Chou, CEO, HTC * Paul Jacobs, chairman and CEO, Qualcomm * Jack Dorsey, CEO, Square * Evan Williams, co-founder, Twitter * Vittorio Colao, chief executive, Vodafone * Sir Martin Sorrell, chief executive, WPP
One size does not fit most
Apparel sales at Target were weak in October, registering a decline in the low single-digit range, while sales at competitors with greater exposure to apparel were mixed. For example, Macy’s registered a 2.5% comp increase, but such rivals as Dillard’s, JCPenney and Kohl’s posted declines of 1%, 1.9% and 2.5% respectively. Meanwhile, such off-price chains as Ross Stores and TJX Companies continue to show strength and exceeded their sales plans. Ross gained 4% and TJX results, although flat for the month, were at the high end of the company’s guidance that was tempered by a double digit gain the prior year. The strongest performance was turned in by retailers who appeal to more affluent shoppers. Saks reported an 8.1% increase and Nordstrom posted a 3.4% increase.