Abbey: Shoppers plan a Christmas on credit
More than one in five (21 per cent) of Brits plan to put all their Christmas shopping on their credit card, according to a new piece of research by Abbey.
More than one in five (21 per cent) of Brits plan to put all their Christmas shopping on their credit card, according to a new piece of research by Abbey.
The study by the financial services provider also indicates more than half (53 per cent) of consumers will be opting for cheaper brands and own-label products from supermarkets for the festive food shop.
Meanwhile, women have shown they have become particularly prudent in the run up to Christmas, with some 80 per cent planning to shop around for the best deal on offer.
Just under a quarter (24 per cent) of ladies will be keeping an eye out for last-minute bargains.
Callum Gibson from Abbey Credit Cards, says that sometimes cutbacks are not necessary, especially if people shop in a savvy fashion.
"The new Abbey credit card currently offers three per cent cash back on all supermarket and petrol spending - great for saving money on the Christmas food shop and those trips to see grandparents," he adds.
Abbey's chief economist recently suggested that the Bank of England's decision to reduce the base rate of interest earlier this month was a move which should help "bolster consumer confidence".
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