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Higher Prices Sustained Small Business Sales Growth in April, Fiserv Data Shows
Fiserv Small Business Index remands steady at 144; year-over-year sales grew +1.1%
MILWAUKEE, May 04, 2026 (GLOBE NEWSWIRE) -- Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology, has published the Fiserv Small Business Index for April 2026, indicating that U.S. small business sales growth was driven largely by the higher prices consumers are paying for goods and services.
The seasonally adjusted Index remained at 144. Small business sales rose (+1.1%) year over year, supported by higher average tickets (+2.8%). This marked the largest year-over-year average ticket increase since 2022 and the fifth consecutive month with average tickets growing more than +2.0%. Transactions (foot traffic) declined (-1.7%) year over year. On a monthly basis, both sales and transactions were flat (+0.0%) compared to March.
“In April, small business spending remained resilient on the surface, but sales growth continued to be sustained by price-driven gains rather than increased demand,” said Prasanna Dhore, Chief Data Officer, Fiserv. “As prices stay elevated, consumers are adjusting how they spend. They are visiting less often, prioritizing value and moderating nonessential categories – behaviors that sustain dollars spent while keeping overall foot traffic muted.”
Key Takeaways
Restaurant performance remained soft in April
Restaurant sales declined year over year (-1.6%) and month over month (-0.2%). Limited-Service Restaurants experienced notable declines, with sales down (-4.8%) year over year and foot traffic falling (-5.1%) even as average tickets held steady.
Full-Service Restaurants posted modest gains year over year (+0.8%) and month over month (+0.2%), despite flat foot traffic (-0.1% year over year, +0.3% month over month) and rising average tickets (+0.9%) compared to 2025. These results reinforce a continuing shift to Full-Service dining as consumers become more selective amid fewer overall visits.
Rising fuel costs appear to be impacting other high-frequency categories
Gas Station sales grew (+4.4% month over month and +19.0% year over year), driven by higher average tickets. Rising fuel costs likely contributed to higher average tickets across service segments that are likely to pass gas-related costs on to consumers, including Professional Services (+9.8%), Transportation and Warehousing (+11.7%), and Administrative Support Services (+11.0%).
At the same time, Grocery spending softened, with sales (-2.3%) and foot traffic (-0.8%) both declining year over year. Similar caution appeared in Building Materials, where sales (-1.4%) and transactions (-2.1%) declined month over month, though year-over-year traffic was comparatively strong (+3.6%).
Year-over-year trends for Essentials highlight ongoing pressure
Essential category sales increased (+1.9%), supported by average ticket growth (+3.5%). Discretionary sales rose (+0.4%), even as average tickets increased (+2.2%). Foot traffic declined at similar rates across both Essentials (-1.6%) and Discretionary (-1.8%).
Goods and Services sales reflect divergent dynamics
Goods sales grew (+0.2%) year over year as foot traffic increased (+0.9%), while average tickets declined (-0.7%) following strong prior-year demand. Services sales rose (+1.5%) year over year, driven by higher average tickets (+4.2%) even as transactions declined (-1.7%).
To access the full Fiserv Small Business Index, visit fiserv.com/FiservSmallBusinessIndex.
About the Fiserv Small Business Index®
The Fiserv Small Business Index is published during the first week of every month and differentiated by its direct aggregation of consumer spending activity within the U.S. small business ecosystem. Rather than relying on survey or sentiment data, the Fiserv Small Business Index is derived from point-of-sale transaction data, including card, cash, and check transactions in-store and online across approximately 2 million U.S. small businesses, including hundreds of thousands leveraging the Clover point-of-sale and business management platform.
Benchmarked to 2019, the Fiserv Small Business Index provides a numeric value measuring consumer spending, with an accompanying transaction index measuring customer traffic. Through a simple interface, users can access data by region, state, and/or across business types categorized by the North American Industry Classification System (NAICS). Featuring the most detailed classification available, the Fiserv Small Business Index provides visibility into 56 standardized level-6 national industries across 26 subsectors and 13 sectors, allowing users to track sales trends with precision and understand the diverse dynamics shaping the U.S. small business economy.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, moves more than money. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and Clover®, the world’s smartest point-of-sale system and business management platform. Fiserv is a member of the S&P 500® Index and one of TIME Magazine’s Most Influential Companies™. Visit fiserv.com and follow on social media for more information and the latest company news.
For more information contact:
Media Relations:
Chase Wallace
Director, Communications
+1 470-481-2555
chase.wallace@fiserv.com
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