Use of credit and debit cards to pay at charity shops continues to increase. According to card payments specialists CardSave, the average credit and debit card turnover at charity shops increased by 103% from 2010 to 2011.
Card turnover at 111 charity shops that use CardSave increased from an average of £3,426.74 in 2010 to £6,952.91 in 2011. In addition, CardSave’s data reveals that the average amount spent on card transactions at charity shops in February 2012 was £25.21, a 9% increase on the same month in 2011.
The figures are part of the CardSave Small Business Payments Index which analyses credit and debit card spending at SMEs and micro-businesses across the UK, covering over 300 different sectors, including charity shops.
The findings confirm a YouGov survey that CardSave commissioned on public attitudes towards cash. The online survey, conducted last week among 2,069 adults, representative of all UK adults, found that:
* 57% believe that cash will become extinct at some point in the future; 50% expect this to occur by 2035; 36% forecast it will be by 2025.
* 62% of people carry less than £20 in cash on them
* 93% carry at least one credit or debit card.
* 40% of the public believes that their lives would be easier if they could pay for everything by card,
* 7% have purchased less than they intended to due to retailers only accepting cash.
Clive Kahn, Chief Executive of CardSave, said that consumers clearly expect to pay by card for everything. “The evidence suggests that charity shops benefit significantly from accepting cards, attracting more customers, making larger sales and maintaining their competitiveness
against major retailers,” he said.