Shoppers Using Debit Cards
Taking advantage of the convenience of debit/check cards, fewer consumers will be relying on cash and credit cards for holiday purchases. According to the National Retail Federation’s (NRF) 2006 Holiday Consumer Intentions and Actions Survey, debit/check cards will once again remain the favored form of payment this holiday season, with 39.1 percent of consumers using their debit/check cards most often when making holiday purchases, up from 34.3 percent in 2005.
One in three people (30.5 percent) will rely on their credit cards for holiday shopping and, for the first time in two years, the number of people using cash at the register has dropped. According to the survey, 24.3 percent of consumers plan to use paper as their preferred method of payment (opposed to 28.5 percent in 2005 and 25.9 percent in 2004) this holiday season. A marginal percentage (6.2 versus 9.1 percent in 2005) of shoppers will be writing checks at the register.
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