Cash payment still plays a certain role in certain scenarios of unmanned vending machines

Nowadays, it has become a habit of some people to go out without a wallet. Even if you don't have a dollar in cash in your pocket, you will not encounter any obstacles in your daily life. From breakfast to taxi, from shopping in the supermarket to staying in a hotel, from seeing a doctor in the hospital to the bus and subway, various payment scenarios can be easily solved with a mobile phone. Even if you withdraw a few hundred yuan in cash for an emergency, often two weeks later, the money will be restored to the original place in your wallet. The change in life experience makes us feel that cash has lost the value of existence. In emerging fields such as self-service, unmanned vending machines, and unmanned vending stores, cash payment has become a dispensable option. It seems that mobile payment has become equal to payment. Is this an objective fact, or is it just an illusion? With this question in mind, from summer to autumn of 2018, we did an experiment on unmanned vending machines. We cooperated with large local unmanned vending machine operators in two first-tier cities, Shanghai and Shenzhen, and spent 4 months collecting transaction data for analysis from more than 20 unmanned vending machines located in more than ten venues. . The types of venues include high-speed rail stations, citizen fitness centers, office lobbies, taxi charging stations, rest areas, factory interiors, and so on. So now, in first-tier cities, how many people are using cash for shopping? In 36% of all unmanned vending machine samples, based on the average sales, cash payments accounted for 36% of the total unmanned vending machine sales. In an era when non-cash payment is so convenient, quite a few people still maintain the habit of cash payment. At the same time, we see that the proportion of cash usage is highly correlated with the type of venue where unmanned vending machines are deployed. 46% of the passenger flow of high-speed railway stations is characterized by high randomness and high diversity. The transaction data of unmanned vending machines here basically represents the overall level of the social group. We have seen that the proportion of cash used by the overall population is very considerable, which greatly exceeds the empirical cognition of urban white-collar workers in daily life. 52% Citizen Fitness Center The passenger flow of Citizen Fitness Center has the characteristics of repetitive patronage, and the age level is relatively balanced, but the proportion of minors and middle-aged and elderly groups is higher than that of ordinary places. In addition, some people do not wear their mobile phones when swimming and fitness. Therefore, the proportion of cash used by unmanned vending machines in such venues is 6 percentage points higher than that of high-speed rail stations, accounting for more than half of the total transaction amount. 11% The repetitiveness of passenger flow in such places as office building lobbies, factory areas, and taxi charging stations rest areas is very high. The age group is mainly young and middle-aged, and they are the main users of non-cash payment. Those who do not need to bring cash to and from get off work every day are the little brothers and sisters who work in the office building. However, we see that the proportion of cash transactions in unmanned vending machines is still over 10%, which also shows that people have diversity in the choice of payment methods in real life. 26% of the office building of the newspaper group also belongs to the category of office lobby, but the data deviates significantly from the other office areas. We analyze this because the average age of the people working here is higher, so the demand for cash transactions is also higher. Conclusion: Cash cannot be ignored. Although mobile payment has become a payment habit of many people, cash payment still maintains a relatively high proportion of the general population in society. The proportion of cash payment for unmanned vending machines is related to the randomness of passenger flow and age structure. If the passenger flow is more random, the cash utilization rate is high; if the passenger flow is repetitive, the cash utilization rate is low. If the passenger flow age group is biased towards middle-aged or young people, the cash utilization rate is high; if the passenger flow age group is biased towards young adults, the cash utilization rate is low. According to estimates, as long as the cash transaction volume accounts for more than 10%, the cash payment equipment on the unmanned vending machine is very worthy of investment (the initial hardware investment and daily cash management costs have been considered). Choosing an appropriate payment method for unmanned vending machines is an effective means to increase operating income. So, in these four months, from these unmanned vending machines operating on-site, what other experiments have we done and what interesting facts have we observed? Stay tuned for our follow-up push articles. Legal note: haloo, as an unmanned vending machine manufacturer, has a variety of unmanned vending machine solutions.

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