5 spending predictions for credit unions this spring
Spring is here and Co-op’s SmartGrowth experts are eyeing some spending trends that are poised to blossom over the coming months.
To help your credit union plan ahead and capitalize on these emerging opportunities, here are 5 payment predictions for the busy spring season:
- Travel, Sports and Recreation Enjoy Seasonal Lift: According to industry forecasts, the world-wide travel and tourism sector will reach 95% of its pre-pandemic revenue level in 2023. In addition, per Expedia data, flight searches are up 25% for summer travel compared to last year, with interest in international destinations growing by triple digits.
All of this bodes well for a busy spring and summer, with the travel, lodging, airfare and car rental merchant categories all showing seasonal lifts. In addition, spending within certain sports and recreation categories like camping and golf will enjoy big increases in both debit and credit.
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