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What is about 2-by-3 inches in size, has a magnetic personality and provides keen insight into holiday shopping habits? Answer: The credit card.
A new study released last week by MasterCard Worldwide debunks the myth that the day after Thanksgiving is the busiest shopping day of the season-at least when it comes to credit and debit card purchases.
It suggests that the Monday after Thanksgiving, also known as Cyber Monday, is not the busiest day for online sales. "According to our data from the last few years, we anticipate the day before Christmas Eve, which falls on a Saturday this year, will be the busiest day," said Larry Flanagan, chief marketing officer for MasterCard Worldwide.
Charge card records have become increasingly more important in forecasting seasonal spending as studies find debit cards growing in popularity with shoppers.
The National Retail Federation, a Washington, D.C.-based trade group, reported Nov. 13 that a poll of 8,000 consumers found that 39 percent of consumers plan to use their debit cards most often...