Tuesday, October 28, 2014

Cash Is King With Men and Millennials Too Scared to Use Credit Cards

NEW YORK (MainStreet) -- As the big-spending holiday season approaches, shoppers are increasingly apprehensive about the rise in credit card breaches at major retailers and are adjusting their shopping behavior accordingly. But the October launch of Apple Pay won't quell anxiety: consumers are gravitating toward cash, with men and younger consumers more likely than women and older consumers to say that they would use cash rather than credit or debit cards at retailers that have had a security breach, according to a new survey from TheStreet conducted by GfK. Read More: Did We Learn the Wrong Lesson From the Target Data Breach And despite last holiday season's hack of Target and the breaches at the likes of Michaels and Home Depot , plus heightened consumer concern with regard to how they pay, most shoppers are set in their ways and won't be terribly inclined to adjust their spending behavior. The tweaks Americans do make can be categorized in three ways, ascribed to consumers' gender and age and the attendant psychology governing certain demographics. Continue Reading on MainStreet a


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