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A Look Back on August

 

As summer winds down, we take a look back on how August fared in regards to credit card sales. Wind River’s merchant portfolio saw credit card volume increase 2.5% over August 2013 volume.  53% of our merchants saw an increase, while 47% saw a decrease compared to the same time period last year. In our portfolio, the largest gainers were those in the Printing and Digital Media fields, as well as those in the Travel Industry. No surprises in August with school being out that we saw the largest decrease in Education Services and General Business Services. Now that we’re swiftly “Back-to-School” as well as officially done with the summer vacation season, we will likely see different results in September.

What does this all point to?  Our economy continues to grow, albeit at a slow to moderate rate. As a reference point, we would expect to see year-over-year sales growing at a 7 – 10% rate when the national economy is hitting on all cylinders.

We realize that credit cards are only part of the overall picture of your total sales. At the end of September we will be publishing 3rd Quarter and year-to-date numbers.  What story will they tell?  Be sure to read my October blog!

As always, Wind River is committed to bringing our clients more information to allow you to manage your credit card expense line. We look forward to rolling out a new online reporting package in the months ahead that will provide more personalized and specific insight into these volume trends.

Let me know if you find this information helpful or interesting. You can contact me directly at mcourchane@windriverfinancial.com or call our friendly Relationship Managers at 1-800-704-7253, Option #4.

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