Creditnet News Story
Some credit card offers may spur purchases
Wednesday, December 9, 2009
By William Davis
Almost 20 percent of those surveyed might be motivated by additional rewards.
Depending on what credit card offers are made to some consumers, it may influence how they spend money during this holiday shopping season.
According to a recent survey from credit-card provider Discover, about 18 percent of respondents said that additional rewards tied to credit cards might motivate them to make a holiday purchase.
However, other questions asked in the poll show that consumers are trying to be careful when it comes to how much they spend this year on gifts. Overall, respondents said they plan on spending 15 percent less on gifts when compared to last year. The average total people plan on spending this year comes to $723, down from the $831 seen in 2008.
"Finding the perfect gift is never easy, and this year shoppers will be looking for ones that also fit within their budgets," Ryan Garton, director of customer insights for Discover Financial Services, said.
Discover's findings match the expectations of many organizations and retailers, which have predicted that this year's holiday shopping season will be down. For example, the National Retail Federation has forecast that 2009 will see a 1 percent decline in sales compared to last year.
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