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CO-OP, Saylent Find Increases in Mother's Day Purchasing
Wednesday, May 14, 2014 6:50 AM

Mother’s Day, traditionally the day telephones are the busiest as grateful children remember to call the family matriarch, also turned out to be a memorable day for restaurants, book stores and craft shops.

Merchants of all these services recorded customers spending more money with them than in 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, president/CEO of CO-OP – a business partner of Credit Union Resources. “The purchasing activity this weekend by credit union members shows one great American tradition supporting another – and is another encouraging sign for the economy.”  

This analysis of sales is based on more than 11.4 million transactions made from Friday, May 9, through Sunday, May 11. The results cover debit card activity nationwide by members of credit unions that use CO-OP for transaction processing.

Among the highlights of the CO-OP Revelation data:

  • As one of the most popular merchant categories, restaurant transactions were up 12 percent from 2013 with a corresponding growth in total dollars spent of 11 percent.
  • The highest overall growth came from artist supply and craft shops, showing an 83 percent increase in total transactions.
  • Book stores showed solid growth, with a 17 percent increase in transactions and an 18 percent increase in total spend.
     
  • Among smaller volume merchants, precious stone, watch and jewelry merchants posted a 31 percent increase in overall spend.
  • Gas stations and fuel purchases grew slightly at a 6 percent rate in volume and a 7 percent rate in spend.
  • Florists, department and discount stores were generally flat from 2013 to 2014.