Consumers' spending and payment plans for holidays may vary
21/11/2011 - By Louis Georgakakis
Black Friday will be a busy day for most retailers.
Black Friday, November 25, and the following weekend are likely to be a major test for online retailers, as consumers are expected to balance their shopping plans across mobile, ecommerce and in-store venues in light of tightened financial situations.
Accordingly, online retailers need to ensure their networks and merchant services
are properly equipped to handle the surge in traffic. One recent report from Keynote Systems estimates some 60 million consumers will shop through their mobile devices this Thanksgiving weekend.
While it remains to be seen how consumers will make their payments, it seems to follow that recent declines in credit card debt suggests consumers are incurring less debt and opting for immediate cash or debit card payments instead.
However, a survey released last week by ING Direct found 34 percent of Americans are able to pay off their holiday spending debts in less than a month, while 13 percent claim it will take more than two months.
"A confident consumer needs to be a smart consumer," said Arkadi Kuhlmann, president and CEO of ING. "With an increase in seasonal spending expected, shoppers have a positive outlook about their finances as the holidays quickly approach."
Articles written by ChargeNational.com's editorial team. For more information, click here.
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