- ATM customers spend an average of 20-25% more than non-ATM customers.
- As you'd expect, most customers who withdraw funds from an on-site ATM spend some of that money in the store.
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.
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.
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.
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.