Shoppers Reluctant to Spend This Christmas
British Retail Consortium (BRC) has revealed that shoppers are being a lot more reluctant to spend in the lead up to Christmas this year.
The company’s retail sales monitor saw that retail sales only grew by 0.7% last month (November), making it the weakest month for growth since May.
The BRC have suggested that one major reason why this could have happened is due to the mild weather that we have seen across the UK, which will have affected sales of items such as winter clothing and footwear.
Sales of non-food items online, by mail order and telephone have grown by 8.6% compared to the same month last year. But again, this is still the weakest growth since March. Read more >>
Sentiment vs. Statistics: Consumer Confidence
There is an odd disparity rumbling uncomfortably at the moment. On the one hand, consumer confidence appears to be tumbling; on the other, there are signs that retail spending remains alive and well.
What does this unrest mean about the way in which confidence influences our view of the economy?
Credit Cards for Christmas Shopping Overseas
Christmas shopping trip to Paris, Brussels, Cologne, Vienna, New York, anyone?
We could all do with taking some of the stress out of the Christmas shopping period, which only tends to add to an already manic list of commitments.
A trip to one of Europe’s finest Christmas market towns might be just the ticket.
Anyone planning to shop overseas for Christmas, though, even from the comfort of their own homes, should note the duty-free limits, which have been amended slightly in November.
Near Field Communication: The end of the credit card?
The tide is turning towards the next phase of financial transaction technology. It now remains to be seen whether this spells the beginning of the end of the trusty plastic credit card, or whether consumers will resist in number.
With the increasing number and popularity of mobile apps, major financial bodies have been looking towards innovative new payment systems for mobile devices.
The launch of these new mobile payment systems could now spell the beginning of the end for the traditional credit card.
Commonwealth Gold, American Silver
Last month, Google launched ‘Google Wallet’, an application designed to make payments easier for consumers while offering retailers more ways to offer loyalty programs. It is developing a system using Near Field Communication technology (NFC), and is expected to reach the UK by early 2012.
In terms of development, however, they may be beaten to the chase by Australia’s Commonwealth Bank, which today launched ‘Kaching‘, an app which allows smart phones / iPhones to connect with cash registers and to make payments by email and Facebook. It will be available within two months to iPhone users with operating system iOS4 or above. This would make CommBank the first commercial provider of such a mobile payment system. Read more >>
Inflation above 5%. What now for savers and spenders?
Soaring energy bills and rising food prices have driven inflation over 5% in the month of September, causing more misery for savers. The retail price index (RPI) has risen to a 20-year high. So, what now for savers who are set to lose out considerably in real terms?
It has been estimated that savers at the basic level of tax would need to be investing at a rate of at least 6.5% to avoid losing out in real terms, and greater still for higher rate taxpayers. However, the low base rate set by the Monetary Policy Committee to aid growth is leaving very few products available at a percentage that can offset the high inflation rate.
What are the options?
Barclaycard offers best ever Balance Transfer deal
Barclaycard has taken the bull by the horn and unleashed yet another aggressive move that has once again increased its lead in the 0% balance transfer credit card market.
Until last year, the Virgin credit card dominated this side of the credit card market with a 16 month 0% deal, but Barclaycard recently rolled out a series of changes that saw it move ahead of every other provider, while continuing to gain distance from its competitors and pulling away, giving Barclaycard a significant lead. Read more >>
Credit cards improve as competition rises
According to research from Moneyfacts, the number of balance transfer credit cards on the market has significantly increased over the last two years.
This seems to be the general trend across all types of credit cards, from reward cards that allow users to earn points for their spending, to bad credit cards, designed to help people to build up or repair their credit rating.
Credit card users have continued to benefit from better and better deals, until balance transfer market exploded in March after Barclaycard broke past the highest ever 0% balance transfer deal to offer an impressive 20 months interest free. Read more >>
UK Holidaymakers ‘struggle with Exchange Rates’
As summer approaches, many people are making plans to escape the unpredictable English weather in search for a sunny stretch of coastline.
However, UK holidaymakers setting off to France may get a surprise when they order their first beer, as it could cost them over a fiver, so many will have to start raiding their savings accounts in order to splash out a bit.
According to beer price comparison website pintprice.com, France currently sits at number nine in a survey covering 208 countries for the most expensive cost of beer. Read more >>
How to clear debt efficiently
Anyone who has ever owned a credit card will know just how easy it is to get into debt. Millions of people slip into the red every year, racking up debts that seem to expand through interest charges making them feel as if they have lost control.
However, there are a number of debt settlement methods that allow us to manage repayments while in some cases freezing any further interest until the credit card debt has been cleared.
It’s worth checking all of your options for debt settlement techniques, but one method that may not seem like the most obvious to begin with is by use of a credit card. Read more >>
2012 Olympic Games fans ‘must use Visa to buy tickets’
Sports fans hoping to buy tickets for the London Olympic and Paralympic Games next year will be unable to complete the purchase unless they use a Visa card.
This restriction has been enforced as a result of an exclusive deal made between Visa and the Olympic organisers, which will see the estimated 10 million ticket sales go through the credit card payment system.
The official London 2012 ticket site states: “In recognition of Visa’s support of the Olympic Games and Paralympic Games, London 2012 is proud to accept only Visa payment cards (debit, credit and prepaid), along with cash and cheques. Sponsor support is crucial to the staging of the Olympic Games and Paralympic Games and the operation of organisations throughout the Olympic Movement. Read more >>