Primax Payments Pulse: 2023 Holiday Spending Report

The document is a report that presents the third annual Primax Payments Pulse: Holiday Spending Report, focusing on consumer spending trends during the 2023 holiday season. It provides a year-over-year analysis of same-store financial institution comparisons and a three-month overview of consumer transactions. The report highlights significant trends, including an increase in Buy Now, Pay Later (BNPL) activity, which rose by 14% year-over-year. It details the performance of debit and credit card purchases, noting that debit card purchases increased by 4.8% for the year, while credit card purchases rose by 2.4%. The report also discusses the Consumer Price Index (CPI) increase and job growth statistics, indicating a steady unemployment rate. Additionally, it examines the impact of government funding measures on economic conditions. The insights aim to assist financial institutions in making informed decisions amid an uncertain economic environment.