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Old love won’t rust That is the saying. The population’s love of cash lost its luster in the Corona year. For the first time, cash was toppled as the most popular means of payment. This is the result of a survey conducted by Moneyland.
According to the comparison service, the debit card has replaced cash as the most important means of payment in the daily life of the Swiss.
More than two-thirds of those surveyed consider debit cards to be essential, followed by credit cards with 71 percent. Cash now only ranks third: 67 percent still don’t want to do without it in 2021; a year ago it was 78 percent.
Young people love Revolut and Twint
The Twint payment app is a clear beneficiary of contactless payments, especially among 18-25 year olds. Overall, 43 percent of respondents no longer want to do without Twint. Before the Corona crisis, the ratio was only 26 percent.
The Revolut card and app are also popular with young people. If you only consider paying at the till, 98 percent say they use cash.
“Price plays a bigger role in the purchase”
Currently, many stores are still closed. But consumers are eager to wait for the reopening scheduled for early March, as a recent survey by marketing company Profital shows. See, touch, taste: Although stores have massively expanded their business online, two-thirds of respondents do not shop at fixed retail.
The fact that stores attract with discounts is especially beneficial for consumers. “Price plays an increasingly important role for many,” says Profital CEO Raphael Thommen. The crown crisis led to more conscious purchasing planning. And what are consumers most expecting? Open clothing stores are mentioned again, followed by shoe stores and furniture stores.
