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Discounting 'increases consumer confidence'

Written by Sam Dawson

More from Trends and Analysis
6 January 2009

Discounting 'increases consumer confidence'”

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Consumers hit the high street with their credit cards and shopped until they dropped during December, according to a new study by Nationwide.

The financial services provider's Consumer Confidence Index for December 2008 states this is likely to reflect heavy discounting on the part of retailers in the run-up to Christmas as they take steps to overcome the turbulence in the economic markets.

According to the company, the percentage of those consumers who believed now was a good time to purchase household goods increased by a total of 13 per cent over the course of the month to 41 per cent.

Meanwhile, the percentage of people who thought now was a bad time to make a major purchase fell by some seven percentage points to 51 per cent.

Nationwide's Gold card offers commission-free purchases abroad, up to 56 days interest-free credit and a free 12-month extended warranty on many electrical or gas products.

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	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
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16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
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17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
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