Almost 39 million people received food stamps or Electronic Benefit Transfers in April 2009. That's up 20% over April 2008. Retailers like Costco, 7-Eleven and Target are jumping on the payment method as they know that their customers are cash-strapped.
It can be beneficial to these companies to accept EBT. For instance, in its third-quarter earnings report Family Dollar cited EBT as among the reasons for its success in the current economy. Same-store sales were up 6.2% for the quarter, and food and beverages rose the most.
It illustrates the usual give and take of the economy. Sure the economy is bad, so more people use EBT and get government assistance, sales go up at select stores accepting EBT payments. It just illustrates how it is never all bad.
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