DIY sales on the up as consumers use credit cards

22/09/2009

An increasing number of consumers are using their credit cards to pay for DIY goods new research suggests. According to APACS payments association, in May of this year around £1billion was spent at retailers with credit cards.

It seems as though homeowners have decided stay put and improve instead of move with the recent credit crunch. Between August 2007 and July 2008 nearly £12 billion was spent on DIY equipment on consumer’s credit cards.

This new data suggests that consumers have given up on buying and selling homes and are staying put in their homes and spending on making improvements. With house prices down compared to last year and the state of the UK economy, these statistics come as no surprise.

“Plastic cards are one of the most popular forms of payment in the UK and the last decade has seen a rapid rise in their popularity, with consumers enjoying the ease and convenience debit and credit cards bring,” said director of communications Sandra Quinn at APACS.

"It appears that DIY enthusiasts are no exception and use their plastic for those essential purchases in specialist stores - particularly in the month of May this year making the most of the good weather to carry out those home improvements."