An ATM in a retail space holds appeal for both businesses and consumers, but remains an opportunity many retailers are yet to explore. Below, ATM provider YourCash offers insight into how businesses can benefit financially from featuring the service in store
WHEN running a retail operation, there are many things to consider – what brands to stock, the cleanliness of your premises, the storefront design, the add-on services and the training of your staff.
There’s often so much going on, there’s little time left to consider how to create a more engaging environment and deliver real value to your local community. Not only this, but many of the solutions available are costly and deliver value to either the customer or the business – not both.
The question is then, how does an ATM differ? Does it deliver value where other solutions struggle? The simple answer, says independent ATM provider YourCash, is yes – the benefits of having an ATM in-store are for the customers and the business to share.
Customers today are savvy when choosing where to do their shopping and several factors come into play during that decision-making process. According to YourCash, a recent survey from ShopperVista showed 75% of customers now expect an ATM service in their local convenience store.
A spokesperson said: “Customers want convenience in their lives, we are a ‘dash and go’ nation and if you have a local store that offers everything you need, including safe and secure access to cash, it soon becomes a convenient one-stop hub that you will use every day.”
A recent survey advised that 75% of customers now expect an ATM in their local convenience store.
Retailers considering such facilities will be looking at a return on their investments, but in most cases the investment required is zero.
Those that choose YourCash, for example, will have no costs applied to them as they provide the ATM, installation, servicing and marketing material free of charge.
“Once the ATM has been installed, retailers consistently notice a rise in footfall, increase in basket spend (by an average of 65%) and a surge on impulse purchases,” their spokesperson said.
There are many ATM solutions on offer and according to YourCash, the self-fill option, whereby the business uses its takings to fill the ATM on a daily basis, can save retailers thousands a year on cash deposit banking fees, not to mention the elimination of cash back discrepancies and reduced queuing times.
With 32,740 cash payments made every minute in the UK and ATMs deployed by YourCash alone, dispensing over £3.5bn in 2016, it seems retailers are becoming increasingly keen to get a slice of the cash machine pie.
If you’re interested in having an ATM installed in your retail space, you can contact YourCash on 0800 032 0707 or visit www.yourcash.com. Be sure to mention Scottish Grocer when you get in touch!
