- ATM customers spend an average of 20-25% more than non-ATM customers.
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As you'd expect, most customers who withdraw funds from an on-site ATM spend some of that money in the store.
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Independent studies show that the cash retention among large retailers is between 30-33%. Retention among smaller retailers is 35-40%. Nightclubs are seeing 70-80% of the dispensed cash staying at the club.
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As popular as they are, many people refuse to use credit cards, especially when times get tight. In the wake of this current global recession, credit card companies are reporting a sharp decline in usage. More and more Americans are finding their way back to cash, because debt is simply not an option in the new economy.
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A recent Harris Interactive poll found that the ATM was as vital to respondents as e-mail, equal in consumers' minds to cell phones, and trailing only computers and microwaves in popularity.
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Many merchants are “Cash Only” and many people do not carry cash these days. Therefore merchants must find a way to make cash available to these customers, otherwise they will lose them. ATMs offer an essential service to modern consumers.
- Most ATM transactions are a result of an "impulse decision" by the customer. Therefore ATM's must be located in the highest customer traffic and be visible for the customer impulse reaction to take place.
