Small Business Sales Grew Steadily in March as Higher Ticket Sizes Offset Softer Foot Traffic, Fiserv Data Shows

Fiserv (NASDAQ: FISV) published the Fiserv Small Business Index for March 2026, reporting the seasonally adjusted Index at 144.

Rhea-AI Summary

Fiserv (NASDAQ: FISV) published the Fiserv Small Business Index for March 2026, reporting the seasonally adjusted Index at 144. Year-over-year small business sales rose +1.3% while transactions fell -1.3%; month-over-month sales increased +0.7%. Higher average ticket sizes (+2.6% YoY) offset softer foot traffic.

Gasoline station sales led gains (MoM +10.3%, YoY +12.7%) driven by average ticket increases, while food services saw mixed results with limited-service restaurants weaker.

Positive

• Fiserv Small Business Index rose to 144
• Gasoline station sales rose +12.7% year-over-year
• Gasoline average ticket increased +12.9% year-over-year

Negative

• None.

Argus Apr 2 session

+1.28% close to close Open Argus

Details

News Market Reaction – FISV

On Apr 2, the day this news came out, FISV closed 1.28% above the previous close.

Data tracked by StockTitan Argus for the Apr 2 session.

Market Context

This announcement highlights a resilient small business backdrop, with the Fiserv Small Business Ind...

Analysis

This announcement highlights a resilient small business backdrop, with the Fiserv Small Business Index at 144, year-over-year sales growth of 1.3%, and average tickets up 2.6% offsetting softer foot traffic. Gasoline Station sales grew sharply, while restaurant and grocery trends were more mixed, underscoring shifting consumer priorities. In context of Fiserv’s recent product launches and 2025 revenue of $21.19B, investors may watch future Index releases and category mix shifts to gauge ongoing demand for payment and data services.

Key Figures

Fiserv Small Business Index: 144 YoY small business sales: +1.3% YoY transactions: -1.3% +5 more

Fiserv Small Business Index

144

Seasonally adjusted Index level for March 2026

YoY small business sales

+1.3%

Year-over-year sales growth in March 2026

YoY transactions

-1.3%

Year-over-year change in small business foot traffic in March 2026

YoY average ticket

+2.6%

Year-over-year growth in average ticket size in March 2026

MoM small business sales

+0.7%

Month-over-month sales change vs February 2026

Gasoline Station sales MoM

+10.3%

Month-over-month sales change at Gasoline Stations in March 2026

Food services sales YoY

-1.0%

Year-over-year change at Food Services and Drinking Places

Essential spending YoY

+1.9%

Year-over-year growth in essential spending categories in March 2026

Historical Context

5 past events · Latest: Mar 17

5 events

1. Mar 17

   Bank partnership

   24h Move

   +1.1%

   Largest agent bank alliance expands Clover reach in Western U.S.

2. Mar 06

   Investor conferences

   24h Move

   -1.2%

   Participation in two March fintech investor conferences by CEO and CFO.

3. Mar 03

   Small Business Index

   24h Move

   +1.7%

   February Index at 143 with YoY sales growth driven by higher tickets.

4. Feb 12

   Product launch

   24h Move

   -5.3%

   Launch of INDX real-time cash settlement platform for digital assets.

5. Feb 10

   Earnings results

   24h Move

   +4.1%

   Q4 and 2025 results with GAAP revenue $21.19B and GAAP EPS $6.34.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

seasonally adjusted, foot traffic

2 terms

seasonally adjusted technical

"The seasonally adjusted Index rose to 144."

Seasonally adjusted means that figures have been modified to remove the effects of regular and predictable changes that happen at specific times of the year, such as holidays or weather patterns. This adjustment helps reveal the true underlying trend by making comparisons across different periods more accurate. For investors, it provides a clearer picture of whether economic activity is genuinely improving or declining, without the noise of seasonal fluctuations.

foot traffic technical

"despite transactions (foot traffic) slowing (-1.3%)."

Foot traffic is the number of people who enter or pass by a physical store, venue or location over a given period. Investors use it like a thermometer for customer interest — higher foot traffic often signals stronger demand, potential sales and marketing effectiveness, while declines can warn of weakening revenue, helping assess short-term performance and guide decisions about inventory, staffing and expansion.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Fiserv Small Business Index rises to 144; year-over-year sales grew +1.3%

MILWAUKEE, April 02, 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 March 2026, indicating that U.S. small business sales continued to grow steadily in March, despite consumers being more selective in their spending. Higher average ticket sizes helped offset slower transaction volumes as small businesses closed out Q1 on solid footing.

The seasonally adjusted Index rose to 144. Year-over-year sales grew (+1.3%) despite transactions (foot traffic) slowing (-1.3%). Month-over-month sales (+0.7%) and foot traffic (+0.5%) both grew slightly compared to February. With total transactions easing, sales growth was buoyed by higher average tickets, which grew both year over year (+2.6%) and month over month (+0.2%).

“March reflects a small business economy that remains durable, supported by continued growth in consumer spend, but with signs of cautious behavior,” said Prasanna Dhore, Chief Data Officer, Fiserv. “With energy prices rising, households began weighing tradeoffs carefully. Their selectivity was visible with consumers eating out less and making more deliberate purchases.”

Key Takeaways

Higher gas prices influenced spending decisions
Geopolitical disruption sent Gasoline Station sales higher month over month (+10.3%), driven mostly by a jump in average tickets (+7.2%). Year-over-year sales (+12.7%) grew in line with the rise in average tickets (+12.9%). Consumers may have partially offset higher gas prices by moderating spend at Food Services and Drinking Places (-1.0% year over year). Limited-service restaurants saw sales decline year over year (-2.9%) as foot traffic fell sharply (-4.2%). Full-service restaurant sales were less affected, with sales growing slightly (+0.4%) and foot traffic declining (-0.3%) year over year.

Retail sales accelerated from February, while year-over-year growth was modest
Total retail sales rose month over month (+1.2%) and year over year (+0.7%). Gasoline sales accounted for most of the monthly gains. Building Materials (+3.5%), Motor Vehicle Parts (+1.6%) and Furniture (+1.7%) also contributed, with growth in these subsectors driven by higher foot traffic. Food and Beverage Stores (grocery) sales continued to soften (-0.5% month over month and -1.5% year over year) as consumers made more budget‑conscious purchasing choices.

Discretionary and essential spending patterns were largely unchanged in March
Essential spending outpaced discretionary spending for the 12^th consecutive month, reinforcing a consistent pattern of prioritization among consumers. Discretionary categories grew year over year (+0.8%) and month over month (+0.8%); essential categories also grew (+1.9%) year over year and (+0.6%) month over month.

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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Fiserv report for the Small Business Index in March 2026 for FISV?

The index rose to 144 in March 2026. According to the company, small business sales grew +1.3% year-over-year while transactions eased -1.3%, with higher average tickets offsetting lower foot traffic.

How did gasoline station sales affect Fiserv March 2026 data for FISV?

Gasoline stations were the largest monthly contributor with strong gains. According to the company, gasoline station sales rose +10.3% month-over-month and +12.7% year-over-year, driven mainly by higher average tickets.

What happened to small business foot traffic in March 2026 in the Fiserv data (FISV)?

Overall foot traffic softened slightly year over year. According to the company, transactions fell -1.3% year-over-year while month-over-month foot traffic rose modestly +0.5% compared with February.

How did restaurant categories perform in Fiserv's March 2026 report for FISV?

Food services showed divergence across segments. According to the company, limited-service restaurants saw year-over-year sales decline -2.9% with foot traffic down -4.2%, while full-service sales grew slightly +0.4%.

Did retail sales improve in March 2026 in the Fiserv Small Business Index (FISV)?

Retail sales accelerated month over month but remained modest year over year. According to the company, retail sales rose +1.2% month-over-month and +0.7% year-over-year, with gasoline accounting for much of the monthly gain.

What role did average ticket size play in Fiserv's March 2026 results for FISV?

Higher average ticket sizes helped sustain sales growth despite fewer transactions. According to the company, average tickets rose +2.6% year-over-year and +0.2% month-over-month, supporting overall sales.