USAA Survey says Shoppers Plan to Use Cash this Holiday Season USAA, the insurance and financial company who we've reported tops customer satisfaction surveys time and time again says shoppers are planning to use more cash and less credit this holiday season. Their insurance survey report shows 85% of shoppers plan to use cash and 62% plan to use more cash this year than last year.
They also found that 56% of consumers have been saving cash throughout the year to spend during the holidays. This jives with other survey research that Americans are, in general, saving more and spending less. Perhaps more important to USAA's financial services business, though, is their data which shows that 74% of those who plan to use a credit card for their holiday purchases plan to pay off the balance immediately.
On a broader note, a retail survey commissioned by the National Retail Foundation reports overall holiday sales will be down about 1% and that two-thirds of families have adjusted their holiday plans due to the economy.
Online retailers continue to be the bright spot, however, with sales expected to increase about 8%, according to Forrester Research.