Retail purchase volume continues to gain strength as economic recovery ramps up, and it may be encouraging to some businesses interested in mobile credit card processing to save on operating costs.
Overall retail sales may rise by close 4 percent in June compared to one year earlier, according to a report from Retail Metrics. This would be an improvement from May, when the figure more than 3 percent. In June 2012, the figure had only a marginal gain in sales.
The improvements may be due to more gains in consumer confidence and financial security, which could have a positive effect on businesses in the coming months.
“The stores are having great sales,” Allison Gatt, a shopper in Chicago, told the Chicago Tribune. “We’re (more) comfortable shopping in the last year and a half. I don’t feel pinched anymore.”
American consumers may be helping out a number of businesses with further financial injections, as overall real disposable income rose 0.4 percent in May, according to a report from the Department of Commerce. This was an improvement from April’s gain of 0.3 percent.
Meanwhile, this wasn’t the only positive condition noted in the market in recent months. Personal income increased more than $69 billion in May, the report explained. That helped it rise 0.5 percent compared to the previous month’s level. Another statistic, disposable personal income, jumped $57 billion during the month, for another gain of 0.5 percent. Most figures had gains that were much higher than the improvements during April.
With more consumers spending at retail stores, it could benefit some businesses to make it easier for clients and lessen dependencies on cash. Utilizing mobile payment technology may be a way to help improve the transaction situation significantly.Back To Blog