The possibility of earning rewards like cashback or airline miles may be enough for some consumers to increase their spending, a new survey finds.
A February 2018 survey of US credit card holders by Finder.com revealed that men (30.9%) were slightly more willing than women (27.6%) to make a credit card purchase if it meant they would get something back in return. In fact, "they spend almost double that of women, racking up an average $3,021.31 to a woman's $1,852.87," the survey found.
Men were more likely to use their credit card on technology/electronics (66.7%) and shoes (51.3%), while women were more likely to use their credit card on clothing (95.1%) and cosmetics (40.9%).
Women are often more price-conscious than men, and their behavior speaks to this. According to a recent survey by First Insight, some three in 10 women said they frequently use their mobile device to compare prices while in a physical store, while only 21% of men said they do the same.
The same survey also found that men (42%) were more likely than women (31%) to shop in-store and pay full price.