Retailers, consumers and prices
Check Out Line: Shoppers to use more cash, less credit
Check out the expected higher use of cash and debit cards this holiday shopping season by debt-weary American consumers.
Credit cards are losing their appeal as 28.3 percent of U.S. shoppers said they plan to use that method of payment most often this holiday season, down from 31.5 percent last year, according to a survey by the National Retail Federation and BIGresearch.
Meanwhile, those intending to use cash most often rose to 24.9 percent from 22.8 percent last year, while debit card/check card use increased 1 percentage point to 42.5 percent, according to the survey.
“With many holiday shoppers focused on spending within their limits, it’s no surprise that fewer people will be relying on credit cards this year,” NRF CEO Tracy Mullin said in a statement.
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