Debit card shoppers 'gaining confidence'

Mozo

Monday 14 September 2009

Shoppers, including those with debit cards and cheap credit cards, are gaining in confidence, it has been claimed.

Australia’s largest department store chain Myers recently announced its full-year profits, which revealed a 14.8 per cent increase compared to the previous year.

The intake reached $109 million in the 12 months up to July, up from $95 million during the previous corresponding period.

According to the company, this demonstrates that Aussie consumers are feeling more assured about the economic climate.

Commenting on the results, chief executive of Myers Bernie Brookes, said: "We believe there are good signs of consumer confidence starting to improve."

Mr Brookes went on to say he had high hopes for continuing the momentum into 2010.

Those that use cash to pay for their purchases may be more likely to go to their own bank’s cash machine, if a new survey is to be believed.

In an attempt to steer clear of the charges for withdrawing money using credit or debit cards at rival banks’ ATMs, people are increasingly avoiding them, according to research from the Reserve Bank of Australia.

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