Credit Card Sales Increase

[Candybee]

So far this year my credit card sales are averaging a little over 40% of my total sales. That's a big increase from recent years when they averaged 30 to 35%. Has anyone noticed an increase this year in their CC sales or is it just me?

 

[Crafty1_AJ]

I've had a significant increase as well.  I now go home from shows and markets with far less cash and way more debit/credit card payments.

 

In fact, at a recent show, nearly 3/4 of my customers purchased with credit or debit cards!

Edited November 25, 2018 by Crafty1_AJ

[Candybee]

Yes! Exactly! I was just posting the average CC sales overall this year. But I have seen several shows where I come away with more CC sales than cash. Sometimes up to 60% or more at some of these shows. It is kind of mind boggling. 

 

When I realized how the CC sales are increasing it makes me think of the days before the recession when people had that mindset to buy now and pay later. Anyway just sayin it makes you think...

[Crafty1_AJ]

When I started out, people just took it for granted that they'd have to pay cash.  Now, smartphones / mobile data / square-type payment apps are more widely used and becoming increasingly well-known, so I think more customers are beginning to expect that we take cc's.  SO thankful for this technology.

Edited November 25, 2018 by Crafty1_AJ

[TallTayl]

This past Faire season we saw a preponderance of credit card sales. The weekly proportions were far out of scale from the prior 6 seasons. 

[Quentin]

6 hours ago, Candybee said:

So far this year my credit card sales are averaging a little over 40% of my total sales. That's a big increase from recent years when they averaged 30 to 35%. Has anyone noticed an increase this year in their CC sales or is it just me?

 

If there were any way to break it down, we would probably see that most of that is actually coming from debit cards. Used to be that many merchants would only take debit cards on sales of $xx.00 or more. I never have a penny in my pocket anymore. When I go to the drug store and my copay is 73 cents I automatically whip out my debit card. 

 

But there are many more credit cards appearing everyday from the least likely places. Even the major credit bureaus are in on the game. After they finish telling you that you don't want to have too many cards but you don't want too few, they finish their message by offering me THEIR credit card. 

[Candybee]

I was including debit cards with my CC sales. Card use both credit/debit is up as a whole and they are not all debit cards. Most of the card sales are still credit although I do see several debit card sales as well. Generally speaking cc charges have increased from my experience.

 

But I understand what you mean. More people use debit cards these days, especially those like me who don't want to rack up CC debt. I too use my DC like cash and don't generally carry much cash. Been doing that for years thou and not just suddenly like I have seen sales wise. Hope that makes sense.

[Shari]

I too have seen an increase in debit/cc payments this year.  I think customers as fairs/shows appreciate the option since so many don't accept cc payments, so they use their cards at those that do to keep cash in their pockets for one that doesn't take cards.   I know when I visit shows I bring money, but like the option of using a cc if needed at some vendors.

[Candybee]

I think with the cc reader options and companies like Square that make it so easy to take cards there are more vendors than ever taking them. Especially since most people have a mobile phone that takes a reader and the company like Square will send you one for free. How easy is that?!!!  Shoot I even use Square for my website and they give you a free website.

 

The ease of setting up an account like Square is so easy that may be why we are seeing an increase as well. For example all the vendors at one market I do use either Square or a similar company to take CC with the exception of one vendor who only takes cash. That is a huge difference in past years. Up until this year there were still vendors I had to explain to about how Square works, but just about everyone knows about it now and either uses is or is waiting to get a phone that is up to date enough to use it.

[Jcandleattic]

On 11/25/2018 at 9:19 AM, Candybee said:

So far this year my credit card sales are averaging a little over 40% of my total sales. That's a big increase from recent years when they averaged 30 to 35%. Has anyone noticed an increase this year in their CC sales or is it just me?

 

Again as per usual, I'm the odd one out. LOL

 

I've actually noted a decrease - a huge decrease actually.

During my 4 annual craft shows, I would normally do about 1/2 - 3/4 of my sales in card purchases across the board. This year, I got a total of 4 card sales total through all of my shows. 

I prefer this because I just "eat" the cost of using a card reader, and add it in to my COB.

This year, that total is significantly less.