Discounting 'increases consumer confidence'
Written by Sam Dawson
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.
Written by Max Jennings ©
