In Germany, people are increasingly doing without cash when paying – customers prefer the card.
Cash is playing an increasingly minor role when shopping in Germany as a result of the pandemic. In the past year, 38.5 percent of sales in stationary retail were paid in cash, reported the Cologne retail research institute EHI in a study.
Before the pandemic – in 2019 – it was 46.5 percent. More and more customers are using cards instead of cash to pay. As a result, the share of card payments in bricks-and-mortar retail increased from 50.5 percent in 2019 to 58.8 percent last year. The most popular was the Girocard, formerly an EC card. More than 42 percent of stationary retail sales were paid for with it. Credit cards were also used more frequently.
According to the EHI, the pandemic not only changed payment behavior, but also shopping behavior. “Due to the contact restrictions, the trend was to visit the trade significantly less, but then to shop considerably more and at the same time to make a significant proportion of non-daily purchases online,” the researchers reported.
According to the retail experts, the number of purchases shrank from 20 billion to 16.6 billion within two years. The average receipt, on the other hand, increased by 16 percent to EUR 25.90.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
