Advertisement

54% Of Shoppers Prefer Installment Payment Plans Over Free Shipping

Share on linkedin
Share on twitter
Share on facebook
Share on reddit
Share on email

Shoppers value offers like free shipping and discounts — but not as much as the chance to pay for their purchases via interest-free installments. A survey of more than 1,000 U.S. credit card holders conducted by Splitit revealed that more than half (54%) preferred installment payments over free shipping. Nearly as many, 53%, chose installments over a 10% discount offer.

High-income consumers (those with annual salaries of $100,000 to $150,000) were the most enthusiastic about installment plans, with 60% selecting this payment method. The survey also revealed that four in 10 credit card users would increase the size of their purchase by at least 10% if they were offered an interest-free installment payment option.

The survey also revealed data about U.S. credit card users, including:

Advertisement

Millennials are the second-largest credit card user group, at 37%, behind people aged 65 and up (42%);

Store cards are the most popular installment-based payment method, at 50%, followed by PayPal Credit (42%);

• The primary reasons consumers like installments is for budgeting purposes (54%); affordability (40%); building credit (4%); and zero interest (2%);

High-income consumers have the highest percentage of credit card usage, at 61%, while only 31% of low-income consumers (those making less than $25,000 annually) use credit cards; and

Males are more likely to say yes when asked if they use a credit card than females, 34% to 29.5%.

Advertisement

Advertisement

Access The Media Kit

Interests:

Access Our Editorial Calendar




If you are downloading this on behalf of a client, please provide the company name and website information below: