Printer Friendly

SUPERMARKET SURVEY SHOWS CONSUMERS USING PAYMENT CARDS AS FINANCIAL MANAGEMENT TOOL

 SAN FRANCISCO, Dec. 8 /PRNewswire/ -- After only three years since Visa U.S.A. launched its supermarket marketing program, nearly half of all supermarkets and 85 of the top 100 chains are accepting the card, Visa announced today. In 1993, annual Visa sales at the 13,000 supermarkets nationwide will total $4 billion -- a 100 percent increase over 1992.
 A recent survey conducted by Yankelovich Partners Inc.(A) sheds some light on why consumers have been eager to try using cards at the supermarket and continue to use them over time.
 According to the survey, supermarket shoppers who pay for their groceries with credit cards use these cards because they worry about carrying too much cash around (73 percent) and they don't like to carry a checkbook (62 percent). One-third (33 percent) of supermarket users said they choose to use certain supermarkets because they accept credit cards.
 The survey also indicated that consumers who use their cards in supermarkets tend to use their cards more as a financial management tool than those who don't use their cards at the supermarket. Specifically, they are more likely than non-users to use their cards to:
 -- provide a record of purchase (77 percent vs. 60 percent)
 -- hold onto their money longer (60 percent vs. 45 percent)
 -- help organize and manage finances (59 percent vs. 33 percent)
 -- keep money in the bank to earn interest (59 percent vs.
 45 percent).
 In addition, supermarket credit card users are much more likely to pay their credit card bills in full each month than those who don't use their cards in supermarkets. Three-quarters (72 percent) of supermarket users pay off their balances vs. 45 percent of non-supermarket users.
 "These findings are particularly noteworthy because they dispel the myth that most credit card users in the supermarket are spending money they do not have on essentials," said Hal Quinley, director, Yankelovich Partners Inc. "Instead, the survey indicates that consumers are using their cards in supermarkets as a convenient replacement for cash and checks and to help better manage their finances."
 In keeping with these findings, Yankelovich also found that two-fifths (40 percent) of supermarket credit card users are trying to accumulate points for promotional programs (frequent flyer and rebate programs).
 Visa is the largest consumer payment card system in the world, with more than 10.5 million acceptance locations and 318 million cards issued worldwide, including 160 million in the United States. Visa also has the leading global ATM network.
 NOTE (A): The research was conducted by means of a nationwide telephone survey of 1,002 credit card owners. This sample was evenly divided between people who have used a credit card in a supermarket and people who own a credit card but have not yet used it in a supermarket. The sample error for each group is plus or minus 4.5 percent.
 -0- 12/8/93
 /CONTACT: Gregory J. Holmes of Visa, 415-432-2107/


CO: Visa; Yankelovich Partners Inc. ST: California IN: FIN REA SU:

TM -- SF007 -- 1865 12/08/93 15:15 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 8, 1993
Words:506
Previous Article:TRINITY BIOTECH COMMENCES SHIPMENT OF HIV 1/2 TEST TO INDIA; COMPLETES TRIAL IN BANGLADESH
Next Article:TOYOTA CINCINNATI REGION BEST NOVEMBER SALES SINCE 1988
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters