>>> LET ME SHIFT TO THIS.
WITH APOLOGIES TO MARK TWAIN,
REPORTS OF THE DEATH OF BRICK
AND MORTAR STORES ARE GREATLY
EXAGGERATED.
CHECK THIS OUT.
A BRAND NEW PRODUCT UNVEILED
EXCLUSIVELY HERE ON THE CLAMAN
COUNTDOWN CALLED HOLIDAY
INSIGHTS.
IT'S A DASHBOARD BY FIRST DATA
THAT PROVIDES UP TO THE MINUTE
DETAIL ON IMPORTANT BRICK AND
MORTAR HOLIDAY SPENDING AROUND
THE WORLD, TRENDS OF SPENDING.
HOW MUCH PEOPLE ARE SPENDING,
WHERE THEY'RE SPENDING, TO HELP
THOSE AT THE CUTTING EDGE OF
COMMERCE MAKE DATA-DRIVEN
BUSINESS DECISIONS THIS HOLIDAY
SEASON.
THE CEO BEHIND THE PRODUCT,
FIRST DATA'S FRANK BISIGNANO, IS
HERE IN A FOX BUSINESS
EXCLUSIVE.
FRANK, THIS IS FASCINATING.
BRAND NEW DEAL HERE, THIS NEW
DATA.
GOT IT UP ON MY COMPUTER AND THE
NUMBERS, I DON'T KNOW IF WE CAN
GET THEM HERE, THEY ARE MOVING
AS WE SPEAK.
I'M LOOKING AT 8.2 MILLION
TRANSACTIONS TODAY ALONE.
IT IS MOVING AS FAST AS CAN BE.
THIS IS FASCINATING TO ME.
IT INDICATES WHAT?
WE KEEP HEARING ABOUT GHOST
MALLS, CLOSURES, RETAIL ICE AGE.
IS THAT OVERBLOWN?
>> WELL, THERE IS DEFINITELY A
CHANGE IN SPENDING.
IF YOU LOOK AT LEADING UP TO THE
WEEKEND AND THEN THROUGH THE
WEEKEND TO CYBERMONDAY, YOU
WOULD SEE DOUBLE DIGIT GROWTH IN
E-COMMERCE, BUT YOU DID SEE
MID-SINGLE DIGIT GROWTH IN BRICK
AND MORTAR.
THAT SAYS THAT TRANSACTIONS ARE
UP IN THE PHYSICAL STORES AND
THAT'S A GOOD SIGN.
A VERY GOOD SIGN.
LIZ: IT'S FASCINATING, BECAUSE
EVERYONE'S TALKING ABOUT THE
FACT THAT IT'S YESTERDAY.
BRICK AND MORTAR IS YESTERDAY.
BUT YOU HAVE SOMETHING LIKE SIX
MILLION BUSINESS LOCATIONS THAT
YOU'RE AGGREGATING AND IT'S
EVERY SECOND THAT YOU'RE
COUNTING THESE TRANSACTIONS?
>> A FEW THOUSAND TIMES A
SECOND.
LIZ: I UNDERESTIMATED.
A FEW THOUSAND TIMES A SECOND.
4,000 FINANCIAL INSTITUTIONS IN
100 DIFFERENT COUNTRIES.
WHAT DOES THIS SAY?
BECAUSE YOU ARE IN A UNIQUE
POSITION TO TELL US ABOUT THE
STRENGTH OF THE CONSUMER AND THE
HEALTH OF THE CONSUMER.
>> WELL, RIGHT NOW, IT'S A LONG
HOLIDAY SEASON.
IT'S THE START.
EVERYBODY LIKES TO MARK BLACK
FRIDAY.
WE ACTUALLY CHART BEFORE BLACK
FRIDAY LEADING UP TO IT, AND WE
SEE GROWTH YEAR OVER YEAR, GOOD
GROWTH.
OBVIOUSLY LAST YEAR WAS A VERY
STRONG YEAR, BUT I THINK MOST
IMPORTANTLY, YOU SEE CONSUMERS
OUT IN FORCE AND I THINK THAT
BRICK AND MORTAR AND E-COMMERCE
COMPLEMENT EACH OTHER.
YOU SEE MANY OF THE STORES
HAVING E-COMMERCE BUSINESS AND
BRICK AND MORTAR BUSINESSES AND
YOU ARE WATCHING THEM COMPLEMENT
EACH OTHER.
LIZ: WHAT SURPRISED YOU MOST
HERE THAT YOU HAVE SEEN SINCE
LAST MONDAY WHEN YOU STARTED TO
PUT TOGETHER ALL OF THESE AND
START TO SEE THE TRANSACTIONS
COME THROUGH ON THIS WEBSITE?
>> WHAT WAS SURPRISING IS LAST
YEAR'S BEHAVIOR EQUALLED THIS
YEAR'S BEHAVIOR, MEANING THE
AMOUNT THAT WAS SPENT PRIOR ON A
PERCENT BASIS WAS VERY, VERY
SIMILAR ALL THE WAY THROUGH
YESTERDAY, CYBERMONDAY.
SO THERE WAS EQUAL INCREASES
ACROSS THE BOARD AND IT WASN'T A
SHIFTING TO ONE DATE OR ANOTHER.
LIZ: BEFORE WE GO, I REALLY WANT
TO HEAR FROM YOU WHAT YOU THINK
AS A CEO OF WHAT EFFECT ALL OF
THESE MILLIONS OF BUSINESSES
YOU'RE WATCHING.
IS IT THE FEDERAL RESERVE AND IF
THE FED WERE TO RAISE RATES IN
DECEMBER, COMING UP, HOW WOULD
THAT AFFECT THE BUSINESSES THAT
YOU FOLLOW?
>> I THINK WE'RE AT AN ALL-TIME
LOW IN UNEMPLOYMENT.
I THINK THE CONSUMERS ARE
FEELING VERY GOOD THIS HOLIDAY
SEASON.
SO I THINK THAT'S THE DRIVER TO
THE HOLIDAY SEASON.
THE CONSUMERS ARE WINNING OUT,
THEY ARE GOING FOR THE
OPPORTUNITIES.
BUT YOU SEE SPENDING UP.
SO I DON'T BELIEVE IT'S GOING TO
AFFECT HOLIDAY SPENDING.
LIZ: OKAY.
SO YOU DON'T THINK THE FED
RAISING WOULD AFFECT HOLIDAY
SPENDING BUT WILL IT HURT THE
BUSINESSES LATER IF THEY DO
RAISE NOW?
>> I THINK LOOK AT, YOU KNOW, WE
HAVE BEEN AT ALL-TIME LOW
INTEREST RATES IN MANY WAYS,
INTEREST --
LIZ: WE AREN'T IN AN EMERGENCY
SITUATION ANYMORE.
>> -- HELP SPENDING BECAUSE MANY
OF THE CONSUMERS ARE, IN FACT,
SAVERS AND THEY WILL RECEIVE
SOME BENEFIT FROM IT.
I HAVE ALWAYS THOUGHT IT'S VERY
CYCLICAL THAT, IN FACT, AS RATES
GO UP, IT DOES IMPROVE SPENDING
IN MANY CASES IN BUSINESSES.