New research reveals a surprising link between grocery shopping habits and credit card payment punctuality. A study conducted by marketing professors, in collaboration with a multinational conglomerate, analyzed consumer data from over 30,000 individuals to explore alternatives to traditional credit scoring. The findings indicate that individuals with consistent grocery shopping patterns—such as shopping on the same day each week and spending similar amounts—are more likely to pay their credit card bills on time. Additionally, the types of products purchased also play a significant role; for example, frequent buyers of healthier items like fresh milk tend to manage their finances better, while those purchasing cigarettes or energy drinks are more likely to miss payments. This research highlights the potential of grocery data as an alternative credit scoring method, particularly for the 45 million U.S. adults lacking sufficient credit history, and aims to improve financial inclusion for underprivileged groups.
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