Fewer Customers Using Credit Cards
This holiday season, a growing number of holiday shoppers are expected to move away from using credit cards, as a way to ensure they spend within their means. That's according to the 2010 Holiday Consumer Intentions and Actions, released this week by the National Retail Federation.
According to the survey, which was conducted through BIGresearch, 43 percent of holiday shoppers plan to use debit cards for their shopping this year, a 20 percent increase over the number from five years ago. Just 27.6 percent will use credit cards, with 25.7 percent using cash.
“Many families may choose to leave credit cards at home as they shop this year, making sure to only purchase what’s on their list and within their budget,” NRF President and CEO Matthew Shay said as part of the announcement. “A variety of promotions ranging from free shipping to one-day sales will make it easier for shoppers to afford the perfect gift for their loved ones this holiday season.”