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News Now

CU System
Card use shows more moms wined, dined for Mother's Day
RANCHO CUCAMONGA, Calif., and FRANKLIN, Mass. (5/14/14)--Restaurants, book stores and craft shops were among the merchant groups that reported increased sales on Mother's Day 2014 compared to the same event the previous year, according to an analysis of debit card transactions by CO-OP Financial Services and Saylent.
 
"Did you know that Mother's Day was first celebrated in the United States in 1908, the same year that the country's first credit union was founded?" said Stan Hollen, CO-OP Financial Services president/CEO. "The purchasing activity this weekend by credit union members shows one great American tradition supporting another--and is another encouraging sign for the economy."  
 
The sales analysis is based on more than 11.4 million transactions made Friday through Sunday. The results cover debit card activity nationwide by members of credit unions that use CO-OP for transaction processing. The year-over-year comparison was performed through CO-OP Revelation analytics solution and conducted by Saylent's Insight360 consulting team. 
 
Among the highlights of the CO-OP Revelation data:
  • Restaurant transactions were up 12% from 2013 with a corresponding growth in total dollars spent of 11%.
  • The highest overall growth came from artist supply and craft shops, showing an 83% increase in total transactions.
  • Book stores showed solid growth, with a 17% increase in transactions and an 18% increase in total spend.
  • Among smaller volume merchants, precious stone, watch and jewelry merchants posted a 31% increase in overall spend.
  • Gas stations and fuel purchases grew slightly at a 6% rate in volume and a 7% rate in spend.
  • Mother's Day sales at florists, department and discount stores were generally flat from 2013 to 2014.


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