Source: Shutterstock.
In the first look at December economic and payments numbers, Co-op Solutions found a strong set of data showing payment numbers climbed in a healthy way during the holiday shopping season.
The data, pulled from Co-op's credit union client portfolios between Dec. 1 and Dec. 31, revealed some debit and credit spending trends that could indicate "emerging signs of a gentle landing for the economy."
According to the Rancho Cucamonga, Calif.-based CUSO, its Payments Trend Report released Wednesday found overall credit and debit spending climbed 6.2% and 6.3% respectively in the month of December. The report also found three prominent spending trends:
Amazon Is on the Rise
Co-op's report found large month-over-month spending lifts in transactions of 38% for both credit and debit. Year-over-year spending was up 13.8% for credit and 9.1% for debit, according to Co-op.
Co-op Solutions Director Beth Phillips said, "Amazon's strong results came despite many shoppers being frustrated with widespread delivery delays late in the season. December's severe storms impacted the delivery of many last-minute gift purchases."
Grocery Spending Remains Flat
After declines reported in November, month-over-month grocery spending rose 6.5% for credit and 5.7% for debit in December. Co-op's report found transaction amounts were significantly higher in December, which reflected the impact of inflation on consumers.
Year-over-year spending remained flat for debit, but grew 37.3% for credit, according to Co-op.
Co-op Senior Payments Advisor John Patton said, "Grocery purchasing was delayed this holiday season as consumers made plans later in the season. Additionally, consumers were also dealing with the 'triple threat' of illnesses that, in many cases, caused their holiday celebrations and plans to be delayed or rescheduled, and that affected what we normally expect to see in this category at this time of the year."
Medical Expenses Increase
Co-op reported medical expenditures grew "significantly, with increases of more than 11% in both credit and debit."
"Once the cold weather hits and people head indoors, spending on health care purchases like pharmaceuticals, medical office visits and clinical services all start to rise," Patton said. "This season, the public is dealing with a particularly challenging 'triple-demic' of respiratory illness, resulting in an above average number of hospital and doctor visits."
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
