November 04, 2009
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Small Business CC Spending Report, Pt.2
Rough third quarter.Capital Access has been collecting debit and credit card spending data for 11 years for their subsidiaries use in developing behavior spending models. Their success in this area has motivated them to expand further by offering these services and products to interest third parties. According to the report, small and mid-size businesses across the nation have experienced a 14.84 percent decrease in debit and credit card sales in third quarter compared to same time last year. Overall, all metropolitan areas have realized a decline in debit and credit card sales with larger populated areas experiencing over 16.5 percent decline in third quarter 2009 compared to third quarter 2008. However, less populated areas of 100,000 or less actually realized a much smaller decline of 9.81 percent for third quarter 2009.
Restaurants with an average ticket of less than $25 fared better than the higher priced restaurants. Overall, restaurant credit card sales dropped 11.06 percent in 2009 compared to same time last year. Small retailers, services, and other industries had a sharp decrease in credit card sales for the 2009 third quarter down 18.46 percent from same time last year. Although some areas of the country continue to show sharp declines in credit sales, the report showed that the majority of areas in the U.S. began stabilizing in the third quarter of 2009. The Southeast Region appears to be suffering the greatest. This region experienced a 17.66 percent decrease for third quarter 2009; a decrease in credit sales for seven consecutive quarters.
Capital Access is a leader in the industry in providing capital solutions and business resources to small and mid-size business. CAN is based out of New York and has offices in Georgia, Massachusetts, and Costa Rica. The CAN SBCS third quarter 2009 report which highlights debit and credit card spending trends for small and mid-sized businesses can be accessed on the Capital Access Network website.