Can you remember the last time someone came into your store and paid for their morning coffee with plastic? Recent consumer research shows that people would rather pay for small purchases with cash. Studies also show that people expect access to their money in convenience stores, so a new ATM in your shop will satisfy your customers.
A 2015 study by Cardtronics researched how consumers spend their money on different kinds of purchases. This survey discovered that 63% use cash when they visit their local convenience store. It also found that 77% of consumers prefer to use their dollar bills for purchases of less than $5. A similar study by CreditCards.com came to the same conclusion in 2014, with 65% of shoppers preferring paper over plastic for small purchases.
It is likely that many potential customers expect to be able to withdraw their money from a machine in your store. In 2012, Nielsen completed a study for Cardtronics that researched money machine use by consumers. They found that people use ATMs in convenience stores more often than they use machines found in other types of retail outlets. The same survey shows that 75% of shoppers plan on withdrawing their money from a machine when they visit a convenience store.
An automatic teller machine will give your regular customers a convenient source of cash that they can spend inside your store. In order to connect your customers to their money, you will need to find someone to install and service an ATM. Merchant365 is a company that specializes in placing reliable machines in businesses across Western Canada. Our customer service lines are open 24 hours a day. Contact us today to find out how we can set your business up with an ATM.
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