DES MOINES, Iowa — Black Friday debit spending was up 12% this year over the last two holiday spending sprees-good news for CUs hoping that debit transaction volume can continue to offset falling swipe fees.
The finding is from The Members Group, which just released its Black Friday and Cyber Monday data from its clients.
The data also shows credit and debit users spent slightly more on average this year, compared with the same period last year.
The average transaction amount for debit cardholders was $134 during Thanksgiving week, compared with $131.66 in 2012. In 2011, the average debit transaction amount was $121.87, creating a 12% increase over a two-year period.
The average transaction amounts increased for credit, as well, up to an average of $222.98 this year. The average in 2012 was $222.16; in 2011, the average was $208.14.
"Even as more payment tools emerge, consumers continue to love their credit and debit cards," said Georgann Smith, TMG vice president of marketing. "The numbers seem to indicate a trend in consumer comfort using their debit cards for larger transactions."
