A study, titled Cash Connection (commissioned by Glory Global Solutions) found that when it comes to cash habits in the USA, 86% of consumers claimed to use cash on a daily, weekly or monthly basis. The research also looked at consumers in the UK and Australia and found that overall, 89% of consumers use cash on the same basis.
Catch up: Glory Global Solutions recent study summary
Glory, one of the largest cash management systems suppliers presented a study on 'how consumers use cash and how it affects retailers' cash management strategies' (Glory 2017, 2).
Excerpt from Glory Global Solutions' 2017 study
'If anything, cash is now enjoying a resurgence: 58% of the consumers we questions use cash either the same amount as they did a year ago, or more. This resurgence is particularly evident in the US where more than a quarter (26%) use cash to pay for things more often now than twelve months ago.'
'9 out of 10 global consumers use cash on a daily, weekly or monthly basis.'
'Interestingly, it is the young that are most loyal to cash: when questioned, 29% of 16-29 year olds revealed they used cash more than they did a year ago. This is particularly true fo women, 20% of whom have increased their physical money usage versus 18% of men. And when questioned further, overall, 82% of consumers strongly agreed there should be an option to pay in cash.' Continue reading...