The discussion of solid, but not robust economic growth, an improving job market, higher average hourly earnings and improving retail sales leads to the conclusion that the 2nd Quarter of 2015 has the growth engine churning again.
Wind River’s portfolio of merchants posted strong year over year gains. For the year, same store sales, paid by credit/debit cards, are up 6.9%. The largest sectors for growth were the travel and entertainment industry followed closely by general business services. 58% of our merchants saw positive growth in Q2 while 42% saw no growth or declined.
Another interesting tidbit is we are seeing an uptick in the average ticket. This means merchants are seeing their customers spend more or merchants have been able to raise prices. Either one points to an improving, albeit agonizingly slow, recovery.