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Retail Spending is Up |
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Retail
spending is up, eCommerce is taking off, and here is more confirmation
that consumers refuse to let the check go away. Chain
Store Age recently surveyed consumers
and retailers about payment options and preferences. They published the
results in their December 1999 Survey of Retail Payment Systems. Checks
were cited as the number two payment method used in the past 12 months,
just behind cash. 94%
of respondents used cash 71%
used checks 57%
used general‑purpose credit cards 38%
used debit cards 29%
used store cards (private label) 12%
used smart cards The
survey also asked consumers about their “expected payment method usage
over next year.” Of the consumers who prefer checks, 84% expect to use
checks as often, or more often, and only 16% said they will use checks
less often. The top reasons that consumers prefer checks are “don’t
like to carry cash” and “easier record-keeping.” It
looks like retailers better keep those Checks Welcome signs handy! © Copyright 1995-1999 The Green Sheet,Inc. |
