How to Shop Responsibly for Holidays with Credit Cards

Balance Transfer Credit Card Offers

Credit cards are one of the reasons people overspend. Not paying hard cash usually makes people not feel like they are spending any money. Buying things for others is another reason why people overspend. It is easier to buy expensive things for people we love than ourselves. We want to make them happy, we want them to have the best of everything, and the combination of credit cards and these feelings mean that we throw our budgets out of the window.

When you start seeing your credit cards as financial tools that can help you save money as well as spend it, you will start benefitting more.

Create a Credit Budget for Holiday Shopping

Because you are not spending the money you have, it is easy to overlook your budget, but, having a budget is the key to spending mindfully. When you just go on spending, you will eventually max out your card, this will then harm your overall credit score.

As adults, we know how important a credit score is to make meaningful financial transactions and investments. You don’t want to toss it off while shopping on the sale adrenaline.

Approaching your credit card limit, maxing out the card, and even after that chances are that you will carry a balance. You will spend months after the holidays paying off the interest rates. Make a budget, keep your balances low, save on interest charges, and stay on budget.

Keep an Eye Out for Bank Deals

Now that you know that you will have to be mindful of your spending, being aware of deals for credit cards is another way of saving some money. Many banks have special deals and reward multipliers for their credit cardholders. 

Many businesses support the extra discount that certain credit cardholders receive. You can check for special deals for the bank’s card you have. Do that by checking your bank’s websites, mobile apps, promotional material, etc.

Not only discounts and rewards, when you use your card for online banking, you also have a chance to get cashback. So, instead of going into debt, you can actually save money on your purchases.

Final Thoughts

The secret to shopping responsibly for holidays with your credit cards includes a combination of planning and research. You have to put in the effort to do these things and that will help you be wise about your purchases.

List down all the saving programs and perks that your card issuer offers and cross-check it with the things you want to purchase. This will help you make the best of what is offered to you. If your card issuer can’t come up with reasonable offers, then the best thing to do is replace them with one who can. You will also get lucrative sign-up bonuses, which is an additional win.

Also Read- Steps To Improve Your Credit Score

The Secret to Successful High Street Shopping Experience

High street shopping popular to cities in Europe, particularly the UK offer a fun Mix of fashion and department stores where customers can experience shopping at its best. Whether big brand names or independent shops these high streets are a home to varying products and services for the customer and in most cases offer places to eat or grab a cup of coffee.  However with the growth of technology and changing patterns of shopping, online stores may be a liable threat to traditional businesses, as the high street has changed in recent years. In order to thrive, retail stores or high street business have implemented certain strategies to give their customers utmost satisfaction.

Motivating the customer

A strategy that serves both the store and the customer is to further integrate the customer in the sales process. This works because customers feel more satisfied with service when they are in charge of certain activities, for instance installing self-service checkouts allows the customer bill their item themselves, reduces the work load of staff and thus improves productivity. The customer is satisfied and the store benefits from it, a win-win situation.

Focus on the people

Another useful strategy is to ensure continuity and stability of staff. This will serve to ensure the growth of the store rather than constantly fluctuating members of staff who struggle to cope with daily operations in the store. This is most important for store management, the management staff should be retained for at least three years to ensure improved competence and leadership potential.  The most important thing is the growth of the staff- management and subordinate staff.

Benchmarking

This strategy is aimed at increasing store performance by reviewing the performance of all aspects of the store. This helps to establish the strengths and weaknesses of the store, then working towards maintaining the strengths and overcoming the weaknesses. In reviewing store performance, basic performance indices should be set as a yardstick of measurement. And the process should be carried out periodically.

Retailtainment

This word was coined by George Ritzer, an American sociologist and author. He defines the word twist as the use of sound, ambience, emotion and activity to motivate customers and increase their interest in the products and put them in the mood to buy. Following this definition, stores can improve customer satisfaction by alluring them with emotion, sound and more. For instance the new Disney Store on London’s Oxford Street. These types of stores are designed to transform a dull shopping retail trip to a fun, and captivating experience.

Social Proof

Research has shown that customers buy 100% of the time for emotional rather than rational reasons. After purchase has been made, they try to justify it with logic. They seek to convince themselves and the other people in their lives that they have made a smart choice.

Testimonials are part of the sales process. This should be taken to the next level to aid improvement in customer satisfaction by providing a printed copy of testimonials or other social proofs.  Customers enjoy their shopping experience when they can justify their decisions with this information.