January Deep Freeze Impacts Small Business Foot Traffic, New Fiserv Data Shows

Rhea-AI Summary

Fiserv (NASDAQ: FISV) released the January 2026 Small Business Index, showing a seasonal slowdown after the holidays and weather disruption. The seasonally adjusted Index fell 1 point to 143. Year-over-year sales rose 0.7% while month-over-month sales slipped 0.5%.

Foot traffic recorded its sharpest YoY decline since mid-2022 (-2.0%) and dropped 0.8% sequentially. Essentials rose 2.2% YoY; discretionary sales and restaurant categories weakened.

News Market Reaction – FISV

-7.66%

1 alert

-7.66% News Effect

On the day this news was published, FISV declined 7.66%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Fiserv Small Business Index: 143 Sales YoY change: +0.7% Sales MoM change: -0.5% +5 more

8 metrics

Fiserv Small Business Index 143 Seasonally adjusted January 2026 reading, down 1 point

Sales YoY change +0.7% Year-over-year small business sales growth, January 2026

Sales MoM change -0.5% Month-over-month small business sales, January 2026

Foot traffic YoY -2.0% Year-over-year consumer foot traffic decline, late January 2026

Discretionary sales YoY -0.4% Year-over-year discretionary spending change

Essential sales YoY +2.2% Year-over-year essential spending change

Tax prep sales YoY +9.3% Year-over-year Tax Preparation Services growth

Restaurant sales YoY -1.8% Year-over-year restaurant sales change, January 2026

Market Reality Check

Price: $59.13 Vol: Volume 6,544,545 is below...

normal vol

$59.13 Last Close

Volume Volume 6,544,545 is below the 20-day average of 9,381,143 (relative volume 0.7x). normal

Technical Price at 62.94 is trading below the 200-day MA of 129.16, indicating a pre-existing downtrend.

Historical Context

5 past events · Latest: Jan 27 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 27	Network expansion	Positive	-1.3%	Zelle expanded to 337 more institutions and 13 million eligible accounts.
Jan 26	Partnership launch	Positive	-0.6%	Exclusive collaboration with Affirm to add Debit BNPL for issuers.
Jan 21	International expansion	Positive	+1.9%	Clover platform rollout planned in Japan with Sumitomo Mitsui Card.
Jan 20	Earnings date set	Neutral	-2.7%	Announcement of Q4 2025 earnings release and webcast timing.
Jan 12	Product integration	Positive	-2.4%	Synchrony expanded CareCredit acceptance via exclusive Clover app integration.

Pattern Detected

Recent partnership and product-expansion headlines have often been followed by modest negative price reactions, suggesting a pattern of divergence between seemingly positive news and short-term trading.

Recent Company History

Across recent updates, Fiserv highlighted network and partnership expansion rather than company-specific financials. On Jan 27, Zelle reported 337 new institutions and at least 13 million added eligible accounts, yet shares fell after the news. A day earlier, the Affirm collaboration to add Debit BNPL access to nearly 420,000 merchants also saw a negative reaction. The Clover expansion to Japan on Jan 21 was one of the few events met with a positive move. Today’s small-business index update fits into this stream of ecosystem and data-driven announcements.

Market Pulse Summary

The stock moved -7.7% in the session following this news. A negative reaction despite the largely ma...

Analysis

The stock moved -7.7% in the session following this news. A negative reaction despite the largely macro nature of this update would fit recent patterns where positive ecosystem news, such as Zelle growth on Jan 27, coincided with declines. The index data highlight soft discretionary demand and weaker restaurant activity, which could reinforce concerns about transaction-sensitive revenue streams. With shares trading below the 200-day MA, traders could view the backdrop as already cautious, making sentiment more sensitive to signs of consumer or small-business pressure.

AI-generated analysis. Not financial advice.

Fiserv Small Business Index declined 1 point to 143; year-over-year sales grew +0.7%

MILWAUKEE, Feb. 03, 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 January 2026, indicating that seasonal shifts by consumers and harsh winter storms cooled small business sales to start the year.

The seasonally adjusted Index declined 1 point to 143. Year-over-year sales grew (+0.7%), but month-over-month sales slipped (-0.5%).

With winter storms impacting much of the country in late January, consumer foot traffic saw its sharpest year-over-year decline (-2.0%) since mid-2022; foot traffic also dropped (-0.8%) month over month.

“In January, small businesses faced headwinds as consumers rebalanced their spending following a busy holiday season, and winter weather kept many at home during the latter half of the month,” said Prasanna Dhore, Chief Data Officer, Fiserv. “As a result, restaurants, hotels and several retail categories saw the sharp slowdowns in sales, while select service-based businesses posted strong sales gains to start the year.”

Key Takeaways

Discretionary spending softened while essentials remained stable
Discretionary sales fell year over year (‑0.4%) and month over month (-0.7%), driven by foot traffic declines (‑2.4% year over year; -1.1% month over month). Essential sales remained strong year over year (+2.2%) but were flat month over month.

Professional and Administrative Services saw pockets of strength
Administrative and Support Services grew (+1.1%) month over month, helped by growth in storm‑related service categories. Tax Preparation Services also recorded strong seasonal acceleration, growing (+9.3%) year over year and (+5.6%) month over month. Broadly, Professional Services sales were strong, rising (+5.1%) compared to January 2025.

Retail held steady, with core categories driving modest growth
Small business retail sales were essentially flat year over year and month over month. Retail foot traffic rose, suggesting consumers remain active but have become increasingly selective. Core retail (which includes grocery, clothing and furniture) delivered the most gains (+1.5%) year over year, while non‑core retail (gas, motor parts and building materials) declined (‑2.7%) year over year.

Restaurant sales declined as foot traffic fell off sharply
Restaurant sales fell (-1.8%) year over year, driven by significant foot traffic declines (‑3.6%) compared to 2025. Limited‑service restaurants posted the largest sales declines, dropping (‑3.4%) year over year alongside steep traffic losses (‑5.0%). Average ticket sizes rose (+1.6%) year over year, offering only a partial offset. Full‑service dining also softened, though less severely.

Winter Storm Impact
For more information on the impact of Winter Storm Fern on regions and business types across the U.S., Fiserv published this special report in late January.

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

FAQ

What did Fiserv report for the January 2026 Small Business Index (FISV)?

The index fell 1 point to 143, reflecting weaker early-year activity. According to Fiserv, year-over-year small business sales rose 0.7% while month-over-month sales slipped 0.5%, driven by seasonal rebalancing and winter storms.

How did consumer foot traffic affect small business sales in January 2026 for FISV?

Foot traffic weakened, causing sales headwinds for many merchants. According to Fiserv, foot traffic fell 2.0% YoY (the sharpest decline since mid-2022) and declined 0.8% month over month, hurting discretionary categories.

Which small business sectors showed strength in the Fiserv January 2026 report for FISV?

Professional and service categories outperformed retail and restaurants in January. According to Fiserv, Professional Services rose 5.1% YoY, Administrative and Support Services grew 1.1% MoM, and tax preparation surged seasonally.

What happened to restaurant sales and ticket sizes in Fiserv's January 2026 data (FISV)?

Restaurant sales declined mainly from lower traffic, partially offset by higher checks. According to Fiserv, restaurant sales fell 1.8% YoY while average ticket sizes rose 1.6% YoY, with limited-service restaurants seeing the largest drops.

How did retail performance break down in Fiserv's January 2026 Small Business Index for FISV?

Core retail categories posted modest gains while non-core retail softened. According to Fiserv, core retail grew 1.5% YoY while non-core retail declined 2.7% YoY, suggesting selective consumer spending.