7-11 first installed ATM machines in all of their locations nationwide more than 30 years ago because they learned (maybe before anyone else) that customers that use their ATMs to withdraw cash end up spending money inside the store.
Not only did ATM customers spend money inside the store when they use a cash machine, but they actually spend 25 percent more on average than non-ATM customers. For many types of business owners, this adds up to additional revenue of several hundred dollars every month.
Cash machines have become a very popular tool for personal banking. Nearly 80 percent of all banking is done through privately-owned cash machines in places like gas stations, convenience stores, bars and nightclubs.
People are busy these days, and it makes them impatient. They don’t want to stand in line at a bank just to get cash. So most people get cash while doing other things like shopping or running errands.
As a result, many people make decisions on where to shop based on whether or not there’s an ATM machine inside. Indeed, most customers expect businesses like gas stations, convenience stores, and bars to have cash machines.
Further, a convenience like an ATM increases customer loyalty. Once customers know you have an ATM, it’s much easier to get repeat business from them and have them coming into your business weekly or even several times per week.
For the customers that come into your store just to use the ATM machine and do not end up spending money, you still earn the transaction fee on the machine, which is normally between $2.00 and $3.00.
Learn more
To find out more about ATM ownership, leasing or placement, e-mail info@atmnetwork.net, visit our Benefits page or download our Buyer’s Guide.
