More Australians paying with debit instead of credit this Christmas

Published: Comments:
Beauty Business Business & Economy Fashion

NOTE: This article is older than 12 months
Social:   

For the first time in the nine year history of the Christmas Spending Index, more Australians are looking to their debit and EFTPOS cards instead of their credit cards to pay for their Christmas gift shopping. Cash payments are also on the decline, with only 20 percent of shoppers relying on this traditional payment method for their Christmas spending.

As part of the annual Christmas Spending Index, the Retail Council looks at shoppers spending behaviours and preferences and payment methods for the Christmas period. The Retail Council is the the representative group for the nation's leading retailers.

"This year, 40 percent of Aussies will reach for their debit cards at the tills while doing their Christmas shopping, compared with 35 percent planning to use credit. In 2015, credit use was around 37 percent, and debit only 32 percent," said Steve Wright, Acting CEO of the Retail Council.

"We've noticed a big difference between men and women in their spending behaviours. Women are much more inclined to use debit than men, relying on funds in the bank accounts to pay for their Christmas gift purchases. Men, on the other hand, are using their credit cards more at a higher rate than their female shopping counterparts."

While making their Christmas purchases, value for money is the number one priority for shoppers this festive season.

"When consumers were asked on why they chose to shop at a particular retailer, over 70 percent indicated that price, sales and discounts were one of their top three considerations. Shoppers then identified quality of merchandise, range or selection of available products and convenience as their next priorities.  This shows that consumers are hunting for bargains, but are not prepared to compromise on quality."

And where are shoppers going to make their Christmas purchases?

Over 80 percent of shoppers are doing a majority of their shopping in stores – with traditional bricks-and mortar shopping, department stores still remain the preferred location for making Christmas purchases.

"Department stores, such as Myer and David Jones, remain shoppers' first choice when buying most of their Christmas gifts, for the variety of products available under the one roof and the value for money with in store promotions.

"Consumers are also looking to general merchandise stores, and specialty stores, such as Rebel Sports, to find that special gift for their loved ones.

"While only 14 percent of shoppers will do a majority of their shopping online, 70 percent indicated they intend to use online stores for an element of their Christmas shopping," said Mr Wright.

The below table provides a breakdown by state across the 6 week period until Christmas (14 November to 24 December 2016).

 
Privately Submitted Article or Event :
See Above Article or Event for Address, Sunshine Coast Wide
Privately Submitted Article or Event
Showing 10+ recent articles for this business
Retirees welcomore more budget funding for Aged Care - But more needed 03 April 2019 | The Association of Independent Retirees recognises that budgeting for the reduction of national debt, lowering taxation and improving infrastructure leads to a stronger economy and greater prosperity for the... More information...
auDA to roll out the welcome mat to new members at launch event 29 March 2019 | auDA, the administrator of Australia's .au namespace, will be rolling out the welcome mat to new members at an official launch event in Federation Square on Monday. More information...
Queensland Alliance Mental Health Welcomes Funding Announcement 22 March 2019 | This means that people experiencing mental illness will now have some level of certainly that their supports will continue for the next 12 months while supporting their transition to the NDIS. More information...
Labor Franking Credit policy severely disadvantages self-funded retirees 14 February 2019 | 'The Labor Party policy to cease Franking Credit refunds severely disadvantages retirees who miss out on qualifying for a part age pension" said Association of Independent Retirees Acting President, Wayne Stran... More information...
Sunshine Coast residents missing out on more than $196m in unclaimed super 01 February 2019 | LGIAsuper, one of Australia’s leading super funds, has found that residents of the Sunshine Coast and Noosa are missing out on more than $196m in lost or unclaimed superannuation. More information...
The Senate gets it, the world gets it, so let's get Australia on board the great electric vehicle shift 30 January 2019 | The newly-released recommendations of the Senate’s Select Committee on Electric Vehicles should be implemented as a matter of urgency, according to the Electric Vehicle Council, so Australia can finally start... More information...
Aussie attitudes towards Australia Day complex, despite majority support for current date 25 January 2019 | A new survey via the Social Research Centre’s Life in Australia™ research panel reveals that despite a clear majority of Australians wanting Australia Day to remain on 26 January, attitudes towards the public... More information...
Friends With Dignity To Support DV Children with Scholarship Program 21 January 2019 | Australian Charity of the Year 2018, Friends With Dignity, will soon launch the fourth round of its Little Friends Scholarship program. More information...
30 Regional teachers receive fully-funded mentorship with Bell Shakespeare 17 December 2018 | Bell Shakespeare is delighted to announce the recipients of the 2019 Regional Teacher Mentorship, giving 30 teachers from regional, rural and remote Australian schools a fully-funded, year-long mentorship with the... More information...
Teachers invited to apply for mentorship with Bell Shakespeare 25 October 2018 | Teachers from regional, rural and remote Australian schools are invited to apply for a fully-funded year-long mentorship with Australia's national theatre company, Bell Shakespeare. More information...



Social:   
comments powered by Disqus

All articles submitted by third parties or written by My Sunshine Coast come under our Disclaimer / Terms of Service