After a huge spike in credit card volume in April, everyone was anxious to see what May would bring. Wind River’s portfolio of over 3,500 merchants (which processed over $1.5 Billion in volume last year) saw year-over-year sales of 2.8% for May. Not nearly the spike seen last month.
To continue our “trends” conversation that I blogged about last month. I’m happy to report the overall Wind River portfolio volume growth from January-May of this year was 4.3% over the same time period last year. Most of our clients (58%) shared in this positive credit card growth year-over-year, slightly outweighing the number of clients who have not seen growth yet this year.
As a data point and out of curiosity, I reviewed the restaurant and hotel clients in our portfolio to get a gauge of what type of growth they are experiencing year-over-year. I found for the first five months of the year, Restaurants & Hotels experienced 7.1% growth. So, it seems several segments and industries are seeing more credit card sales while others are hanging back by forces out of your direct control. We also realize that credit cards are only part of the overall picture of your total sales. With that said, we are looking forward to seeing how the next seven months drive sales especially with the summer solstice just kicking off this week.
In the meantime, we look forward to rolling out a new online reporting package in Q3 that will provide more personalized and specific insight into these volume trends. Stay tuned for more details on that in a later blog!
As always, Wind River is committed to bringing our clients more information to allow you to manage your credit card expense line. Let me know if we hit the mark. You can contact me directly at email@example.com or call our friendly Relationship Managers at 1-800-704-7253, Option #4.