General Merchandise: Prepaid & Financial Services 2014
Snapshots of financial services, prepaid, ATM and lottery in convenience stores.
The ATM Consumer and Convenience Stores
According to research by Mercator Advisory Group, an advisory firm to the payments and banking industry, consumers are using a wider variety of ATMs than in previous years, and using these ATMs more frequently. When asked which ATMs they use, consumers reported the most significant rise in usage of their own bank’s ATM at in-store locations, increasing from 22% of ATM users in 2012 to 27% in 2013.
Research conducted by The NPD Group and The Nielsen Co. shows ATM users are loyal c-store shoppers. They are more likely than non-ATM users to always visit the same store, and more than twice as likely as non-ATM users to be heavy or super-heavy shoppers. More than 53% visit the c-store eight to more than 13 times per month. Two-thirds cited the ATM as a reason they chose the c-store where they shopped. And while they’re in the store, they’re buying products: ATM users spend twice as much as the channel average at c-stores and buy twice as many items per visit, according to research from NPD.