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Customers 'choosing cash over credit cards'
29 April 2008
Research from the British Retail Consortium (BRC) has revealed that consumers are opting to use cash instead of credit cards as a way of managing their finances.
Credit cards are declining in popularity, with cash being used in 60 per cent of all transactions, a rise of 54 per cent on the previous year.
Richard Dodd, spokesman for the BRC, said: "Customers have got their own personal finances under severe pressure now and so using cash is a way of keeping a tight control on how much they are actually spending."
Consumers are increasingly turning to cash as the credit crunch reduces their disposable income.
"People's enthusiasm for using cards is slipping," Mr Dodd added.
"The thing about cash is it's a tangible amount; you have either got it or you haven't got it. It's a very ready way of monitoring how much you are spending and making sure you don't spend money you haven't got." 
