Recent data suggest U.S. consumers more willing to spend money
November 04, 2013

Enhancing a company's ability to accept credit card payments from consumers may result in long-term revenue growth given the current state of the U.S. economy.

The overall retail industry has struggled to drive sales in recent years. However, the most recent data from the National Retail Federation suggest shoppers are more likely to spend money on certain products. In fact, while the automobile sector reported a significant decrease in sales throughout September, the NRF found a 0.6 percent increase among retailers by excluding the automobiles, gas stations and restaurants. These numbers will likely improve over the next several months, as a separate report from the NRF estimated the upcoming holiday shopping season would result in a 3.9 percent increase in retail sales over last year.

"Retailers witnessed a solid sales performance in September, with marked gains in all sectors, excluding clothing," Matthew Shay, president and CEO of the NRF, stated in a press release. "The American consumer remains ever-cautious and value-driven but continues to spend."

According to Reuters, American shoppers are also purchasing more leisure goods, which resulted in a slight increase in the U.S. Commerce Department reporting a slight increase in consumer spending during September as well. The NRF survey said while many consumers continue to be highly cautious, a large majority have become more willing to make purchases they would have otherwise avoided in recent years. The combination of falling gas prices and rising home and stock prices has partly contributed to these improvements, the NRF concluded.

Businesses can help their most loyal customers feel more comfortable about making purchases by investing in mobile credit card processing technology that enhances the flexibility of the point of sale experience. As consumers start spending more money, small and medium-sized companies can benefit from having a comprehensive system that makes it easier to process transactions from a variety of channels.

Nexus: G-WEBCD5