Shop Talk

Retailers, consumers and prices

Check Out Line: Shoppers to use more cash, less credit

November 17, 2009

card1Check 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.

Also in the basket:

Home depot profit beats Street; outlook raised

Target profit up, cautious on fourth quarter

Ferrero weighs Cadbury alliance offer-report

Dillard’s swings to profit in Q3

Saks posts Q3 profit, shares up

Coca-Cola aims to double system revenue by 2020

(Reuters photo)

Comments

If I’m paying at POS with a credit card, but pay it off without carrying the balance, would I be counted as a credit-buyer or a cash-buyer?

 

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