Infographic: Retail Spend & Bankcard Growth: An Economic Silver Lining?
According to recent market intelligence, retail spend continues to trends
up, translating into increased balance growth on new bankcard and retail card originations
Retail spend continues to trend up from a year ago driven by continued demand for
autos in addition to growth in clothing store and restaurant sales. Translating into
increased balance growth on new bankcard and retail card originations, particularly
seen in the super prime and prime consumer risk segments, where balance growth and
origination volumes had been down a year ago given relatively cautious sentiment.
This is an encouraging sign in consumer confidence given the overall economic trends
in unemployment and downward pressure on home prices.