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TMG releases holiday shopping results for 2013 season

DES MOINES, IA (December 26, 2013) — Payments processor The Members Group (TMG) has released its Black Friday and Cyber Monday data, showing a 12-percent increase in debit spending over the last two years.

Credit and debit users who carry cards issued by TMG financial institution (FI) clients spent slightly more on average this year as compared to the same period last year.

  • The average transaction amount for debit cardholders was $134 during Thanksgiving week, compared to $131.66 in 2012. In 2011, the average debit transaction amount was $121.87, creating a 12-percent increase over a two-year period.
  • Although not as dramatically, the average transaction amounts increased for credit, as well, up to an average of $222.98 this year. The average in 2012 was $222.16; in 2011, the average was $208.14.

“Even as more payment tools emerge, consumers continue to love their credit and debit cards. The numbers seem to indicate a trend in consumer comfort using their debit cards for larger transactions,” said Georgann Smith, TMG vice president of marketing. “FI issuers bracing for the impact of debit interchange regulation may be able to leverage this preference for larger production from their debit portfolios.”

TMG’s Black Friday analysis is courtesy of the card processor’s proprietary analysis tool, ClearTrend. The tool can provide similar data on a per-FI basis for the processing clients of TMG.

“Identifying trends in a particular portfolio can be incredibly important for card teams,” said Smith. “Not only do the trends illuminate strengths; they also show managers where they may need to devote more energy in upcoming months to ensure the continued profitability of their programs.”

About TMG

The Members Group (TMG) is dedicated to creating customized, technology-driven card processing and payment solutions for credit unions and community-based financial institutions across North America. Innovations in fraud management, loyalty programs, alternative payment systems and analytic reporting, and the competitive advantages they create, have helped TMG forge a new standard in offering cutting-edge credit, debit, ATM, prepaid card products and a P2P payment solution. For more information, visit www.themembersgroup.com.

 

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