It seems both retailers and shoppers are moving away from traditional credit cards at checkout in favor of store cards that offer loyalty perks or financing options. Particularly among younger demographics, 52% of Generation Z and 60% of millennials are interested in options beyond a traditional credit card to finance large purchases.
Vyze, a cloud-based financial consultant for retailers, released its third annual Ipsos Retail Credit Survey, which found that 78% of shoppers are now aware of retailers’ financing options, up from 51% just two years ago. Plus, store cards boost consumer loyalty, as 40% of shoppers more likely to purchase at that retailer again.
