Is it a habit that makes consumers love their cash so much? Or do consumers have very rational reasons for still paying so much in cash? Not only does a study provide background material, but it also shows that trading in this bond to cash can also benefit.
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A look in the queue at the supermarket checkout is enough to see that mobile payment systems such as Google Pay are far from arrived in the daily lives of the population. Even contactless payment seems to be well behind the card-based payment or the draw of cash.
Feeling or actual reality? And what makes customers still cash today, when paying by card or smartphone promises so much more convenience?
The company Cardtronics wanted to know more and in the summer of 2017 conducted a representative survey of about 2,000 individuals.
For a Good Reason, Customers Regularly Provide Themselves with Cash
Is it an emotional attachment of customers to cash or what else is driving people to the cash machine? Half of the respondents to the study responded to the question of why they visited the ATM: “I always want to have cash in my wallet.” And many customers regularly visit the ATM. And not just out of habit. For 31% of the individuals, the intervals in which money is withdrawn are also used for budget planning. The expenses are limited to the amount that is currently in the wallet. A trick also repeatedly propagated by the consumer centers to keep the budget under control, this was insinuated more at this clickfunnels reviews.
Retailers in the vicinity of a vending machine can benefit directly from the habit. Almost every third consumer (29%) raises money to spend it immediately in a nearby business.
Personally, I love carrying cash around, even though I mostly utilize online payment options which seems more convenient for purchasing of digital services after comparing the prices, like this clickfunnels pricing comparison.