Many holiday shoppers rely on their credit cards to help them budget their spending but they are also increasingly using reward points as a savings strategy, according to a recent independent poll commissioned by Discover.
More than half of shoppers, 57 percent, plan to budget their holiday purchases, up from 52 percent in 2013.
Forty percent plan to use credit cards for most of their gift purchases. Discover says that among those, 87 percent will use specific credit cards depending on preferred rewards offered, up from 76 percent in 2013.
Consumers are using their mobile devices more as a shopping tool, the survey found. Direct mobile payments is gaining ground with the help of Apple Pay, but falls short of widespread acceptance. When asked how they would use their smartphones for holiday shopping, the most common response was for comparing prices while shopping in-store, 46 percent, followed by using them to search for product reviews at 38 percent.
The national survey of 1,504 consumers was commissioned by Discover and conducted by uSamp, an independent survey research firm from October 28 – November 4, 2014.
See Discover’s infographic below: