As the Autumn Leaves continue to fall to the ground, we take a look back at where we landed in September for credit card sales. Wind River’s merchant portfolio saw volume increase 8.1% over September of last year. Year-to-date, growth is at 5.6% with 61% of Wind River Clients experiencing more credit card sales over last year’s volumes.
Ahead of us are three strong sales months for those businesses that boom during the colder weather including winter recreation industries, snow removal services & repairs, ski facilities, home improvement stores, and travel & hospitality industries for the warmer-weather destinations. Not to mention those retail stores that cash in on holiday sales. So, even though the 3rd quarter is behind us and winter looms before us, look forward to a lot of businesses to come out of hibernation for 4th quarter sales.
How does our portfolio stack up with the overall U.S economy? With lower gasoline prices and the end of back-to-school shopping season, overall spending growth in September for the U.S slowed slightly compared to August’s strong numbers. Growth in September remained healthy at around 3%, slipping slightly from August’s growth around 4%. Year-over-year spending growth, however, was up, driven by categories including Hotel and Travel nationwide. Stay tuned for next month’s blog leading up to the big holiday sales ahead!
We realize that credit cards are only part of the overall picture of your total sales, and we look forward to your feedback on how we can help improve your payment environment. Let me know if you find this information helpful or interesting. You can contact me directly at firstname.lastname@example.org or call our friendly Relationship Managers at 1-800-704-7253, Option #4.