Consumers target credit card spending

Tue, 22 Dec 2009

The impact of the economic downturn means Christmas spending was down in the last Saturday before Christmas.

Analysis of processed credit and debit card payments of the last Saturday before Christmas by Barclaycard payment Acceptance shows spending levels were 2.6 per cent lower this year than they were in 2008.

However, while the headline figures are down, it appears that consumers are choosing to target their credit card usage.

Despite the fact that the number of individual credit and debit card transactions decreased by seven per cent, supermarket spending on cards was up by 15.2 per cent, service station spending on cards was up 24.9 per cent and department stores card spending was up 18 per cent.

"What we have seen over the busiest weekend of the year in the retail industry is a fall overall in terms of spending, but continued increases in areas where you would expect at Christmas such as supermarkets and department stores, as customers continue to treat their loved ones," confirmed Stuart Neal, head of UK Payment Acceptance at Barclaycard.

Earlier this month, Barclaycard revealed it had issued more than five million of its contactless-enabled cards to consumers in the UK.

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