September dollar volume growth was 7.6 percent, a slight decline from August’s growth of 7.9 percent. Transaction growth was 9.2 percent in September; up from August’s growth of 8.3 percent. Consumers continued to increase spending at roughly the same rate as August.
Average tickets declined -1.5 percent, representing the fourth consecutive month of lower average ticket growth. September’s growth of -1.5 percent was the lowest year-over-year growth since November 2009. Merchants lowered prices to attract shoppers and generate sales while consumers continued to search for discounts well into September. This resulted in lower average tickets but more frequent purchases.
Credit transaction growth held steady at 3.4 percent, a slight decline from August’s growth of 3.7 percent. Year-over-year credit transaction growth remained healthy. PIN debit and signature debit transaction growth showed different trends. Year-over-year PIN debit transaction growth slowed to 7.9 percent, a decrease from 9.1 percent growth in August. Signature debit transaction growth was 13.9 percent, an increase from August’s growth of 11.5 percent.
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