Published on 30 - August - 2012
DIY stores see 10% uptake in card turnoverNew figures have revealed that card turnover at UK DIY stores was 10% higher in Q2 2012 than the same period last year, despite an 18% drop in card turnover at small businesses in general.
It comes from analysis of more than 50,000 small independent businesses' card payments by CardSave. Average card turnover in DIY stores was revealed to be £22,833.03 between April and June this year - up from £20,819.05.
CardSave ceo Clive Kahn said: "DIY stores are showing promising results at a time when small businesses in general are feeling the strain of the double-dip recession. This may reflect a growing trend for home improvements, with the UK public choosing to renovate their homes instead of moving, and to do the job themselves rather than hiring decorators or handymen."
He also pointed out that small businesses and independent merchants "need to remain competitive in this continuing difficult economic climate" and taking card payments will help them to "gain an edge over their business rivals."
"Nearly a quarter of consumers will walk out of stores that don't take card payments, so merchants that only accept cash are already at a distinct disadvantage," he warned. "And that's before you take the recession into consideration!"
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