ATM Report: Cash is King at Local Shops (June 2, 2014)
While recent reports are showing a decline in cash transactions, convenience store and gas station owners can increase customer loyalty, foot traffic and sales by installing an ATM, according to a survey of consumer habits in the U.K. commissioned by Houston-based ATM operator Cardtronics.
Nearly three-fourths of consumers consider access to an ATM an important service, and 53 percent of shoppers said they wouldn’t come back to a store if the ATM was removed or broken—which could result in a loss of £11.49 (US$19.24) per customer who didn’t return, according to the report, “The Value of Cash.” ATMs are a key driver of consumer traffic for local shops, with 82 percent of ATM users planning their visit to the store around the presence of a cash machine, and 52 percent reporting using the ATM in a shop at least once a week.
With 90 percent of consumers reporting that they use cash as their primary payment method at local stores versus a payment card, offering customers access to cash while purchasing gas, groceries or paying a bill encourages additional in-store spend and return visits, the survey indicates.
“It is perhaps not surprising that in an increasingly cash-rich and time-poor society, we want to achieve more than ever when we visit our local shop,” said Jonathan Simpson-Dent, managing director, Cardtronics Europe. “By offering a diverse range of services to their customers, local shops remain a ‘one shop’ hit for the local community, and cash access is a central part of that customer experience.”
See related stories:
