A SpendingPulse™ report released today by MasterCard Advisors, the professional services arm of MasterCard (NYSE:MA) in partnership with Wells Fargo (NYSE:WFC), found that spending at small retailers in October increased 4.2% year over last year, well above the rate of inflation.
The October report also found that when gasoline sales are removed, the year-over-year sales growth rate reached 3.6%. Michael McNamara, Global Solutions Leader, MasterCard SpendingPulse, said, “Thanks to the fairly strong performance of smaller retailers for the first nine months of the year, on a year-to-date basis, small retailers continue to outperform overall total retail sales excluding auto.”
On a year-to-date basis, the sales growth rate excluding auto for small retailers is 7.4% from January through October 2012, compared with a 5.6% growth rate for retail overall during the same time period.
Marc Bernstein, head of Small Business for Wells Fargo added, “The overall trend in small retailer sales this year has been one of improvement.”