Survey: Consumers prefer cash for small purchases
Austin, Texas – Approximately two in three credit cardholders typically use cash for purchases of less than five dollars. According to a new CreditCards.com report, a clear generational divide in the way Americans pay for small purchases means that might not be the case for much longer.
The tendency to use cash increases sharply with age. Almost eight-in-10 credit cardholders age 50 and older prefer to use cash for small transactions. For cardholders between ages 18 and 49, it’s virtually a dead heat between cash (52%) and credit/debit cards (46%).
The youngest cardholders (18-29 year-olds) are the only age group to prefer plastic. Digging a little deeper, Millennials with credit cards prefer debit over credit by a ratio of nearly three-to-one. Among all cardholders, debit outpaces credit by a two-to-one margin.
Other key findings:
• Cash is the preferred payment method for almost eight-in-10 rural cardholders versus just 62% of city dwellers and suburbanites.
• Cardholders without children under 18 are 10 percentage points more likely to use cash than those with young children.
"The question is whether Millennials will eventually embrace credit as they age and their financial situations change," said Matt Schulz, senior industry analyst, CreditCards.com. "I believe they will, due in large part to credit’s more lucrative rewards programs and better consumer protections."
ABG launches new Juicy Couture platform
Los Angeles – Authentic Brands Group LLC (ABG), owner of the Juicy Couture brand, is launching a new multiyear partnership to expand the scope of e-commerce services for Juicy Couture, with Onestop Internet, a full-spectrum e-commerce solution provider.
Onestop Internet will customize an outsourced digital commerce channel providing a range of all-encompassing solutions including: full-scale warehousing and distribution, best-in-class customer service, end-to-end product imaging and cross-channel performance marketing services, to streamline operations across Juicy Couture’s online, mobile and brick and mortar businesses.
By refreshing the platform’s merchandising environment and creating an upgraded, ROI-focused user experience, Onestop will maximize consumer engagement and ultimately drive and increase product sales worldwide. Additionally, Onestop will leverage data generated from its proprietary enterprise to consolidate Juicy Couture’s supply chain management process and increasing operational efficiency.
McDonald’s launches omnichannel NFL promotion
Oak Brook, Ill. – As official NFL restaurant sponsor, McDonald’s is launching the national McDonald’s Tailgate Photo Sweepstakes. McDonald’s customers can use QR codes on McDonald’s medium beverages with NFL-themed packaging to access exclusive online NFL Now video content.
Customers can also use QR codes on McDonald’s medium fries to access the McDonald’s Pick The Play Sweepstakes and enter for the chance to win NFL-related prizes – including a trip for two to Super Bowl XLIX in Arizona.
McDonald’s is also launching the McDonald’s Tailgate Photo Sweepstakes from Sept. 2 through Oct. 6. Participants can tweet, share or post a football-related photo on Twitter, Instagram or Vine. The winner receives a McDonald’s mobile tailgate experience brought to their hometown.