7-11 first installed ATM machines in most of their locations nationwide over 3 decades ago because they learned (maybe just before anyone else) that customers apply their ATMs to withdraw money end up spending money inside the store.
Would you remember the saying about money “burning a hole in someone’s pocket? ”
Where ATM machines plus convenience store customers are concerned, the statement seems to ring true.
Not only did 7-11 learn that CREDIT customers spend money inside the store whenever they use a cash machine, but they really spend 25% more on average than non-ATM customers. For many types of business people, this can equate to additional revenues of several hundred dollars every month.
The usage of cash machines as a means of personal financial has been a trend on the rise for nearly 2 decades. In fact , 78% of all banking is completed through privately-owned cash machines within locations such as gas stations, convenience shops, and bars & nightclubs.
People do not go to banks the way they utilized to and stand in line to get money. People are busy, and impatient, so most people get cash while carrying out other things like shopping or working errands.
As a result, many people make choices on whether or not to shop at certain stores or get gas from certain gas stations based on whether or not they have an ATM machine inside. It’s a fact that most customers expect businesses like gas stations, convenience stores, and bars & nightclubs to have cash machines.
Whenever you attract more customers with advantages like ATM services, it’s much easier to get repeat business from them and have them coming into your business weekly and even several times per week.
For the customers that can come into your store just to use the CREDIT machine and do not end up spending money, you’ll still earn the transaction fee for the machine, which is normally between $2. 00 and $3. 00.
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