Cash is king as credit card spending falls 15%

SHOPPERS are relying less on plastic and switching to cash as credit card spending plunged 15% over the last year.

Consumers are also forking out a third less in stores, with spending per transaction falling 32% to €45.64 in the three months to the end of September.

The latest consumer market monitor from UCD Smurfit School and the Marketing Institute of Ireland also found that for the first time sales of second-hand cars exceeded that of new cars this year.