Fiserv Small Business Index Steady at 144 with 1.1% Sales Growth
Fiserv’s Small Business Index held at 144 in April with year-over-year sales up 1.1%, driven by a 2.8% increase in average transaction values while foot traffic declined 1.7%. Gas station sales surged 19% year-over-year, whereas limited-service restaurant sales fell 4.8%.
1. Index Overview and Sales Drivers
Fiserv’s Small Business Index remained at 144 in April, marking flat monthly readings. Year-over-year small business sales rose 1.1%, propelled by a 2.8% jump in average ticket values, while transactions (foot traffic) fell 1.7%.
2. Category Trends and Price Pressure
Rising fuel costs powered a 19% year-over-year gain in gas station sales and boosted average tickets in professional services (+9.8%), transportation and warehousing (+11.7%) and administrative support (+11.0%). Conversely, grocery sales dropped 2.3% and building materials sales dipped 1.4% amid declining transactions.
3. Restaurant Segment Divergence
Limited-service restaurants faced a 4.8% year-over-year sales decline and a 5.1% drop in foot traffic despite steady average tickets. Full-service restaurants logged a modest 0.8% sales gain, flat traffic and a 0.9% rise in average ticket values.
4. Platform Impact and Business Outlook
Sustained price-driven sales growth highlights Fiserv’s Clover platform value in capturing detailed transaction insights, though muted foot traffic suggests merchants may recalibrate pricing and promotions as consumer demand remains cautious.