Cash remains king in UK shops, says BRC

 
Coins Cash was the most popular way to pay in 2012, and the cheapest for shopkeepers

Cash is still the most popular form of payment in UK shops but the popularity of vouchers and coupons is on the rise, research has suggested.

The British Retail Consortium (BRC) analysed 10 billion retail payments in 2012 - 60% of all UK retail sales.

Cash accounted for about 54% of all transactions, but non-cash, non-card payments rose from less than 2% to 5% of the total.

Debit cards also remained popular, the figures showed.

'Ones to watch'

Use of cash in terms of the number of transactions and money spent in shops was down on the previous year. This was the first time in the survey's 13-year history that both measures recorded a fall.

Alternative means of payment, such as online payments and money-off coupons, grew, although these remained a fraction of the total.

"These methods will be the 'ones to watch' in the future, and retailers are investing heavily to make sure their customers have choice and convenience in ways to pay, whether in-store, at home or on the move," said Helen Dickinson, director general of the BRC.

Debit cards accounted for 30% of transactions, while credit cards or charge cards were used in nearly 11% of cases.

The BRC repeated its concern that credit card transactions cost retailers significantly more to process than cash.

 

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  • rate this
    0

    Comment number 65.

    50. Yes it is frustrating at times but they are probably trained to do it just in case somebody is illiterate. I occasionally see the text change and quickly go to pull out my card and it's not even ready yet so it's not exactly easy to guess when to do it if you cant read. What annoys me as a 20 year old is being asked quite abruptly for my ID even though I'm holding it right out infront of them.

  • rate this
    +1

    Comment number 64.

    Cash will take a very long time to die out, if it dies out at all. Too many people don't trust banks or the government to grab a slice of the pie.

  • rate this
    0

    Comment number 63.

    57.spam spam spam spam

    "Internet shopping is creating a dangerous bubble so is cashless society via reducing actual available cash."

    The only bubbles created are by the government printing money (QE), devaluing the £ in the process, and pumping up stock/share values with the money rather than releasing it into the real economy.

    The Help to Buy scheme is going to cause another property bubble.

  • rate this
    +11

    Comment number 62.

    As a northern continental European living in the UK for 7 years I'm astounded at the level of distrust among UK nationals - towards each other and their own country. For all the "keep calm and carry on" and "community spirit" you sure love to conspire. When something goes wrong the first instinct is - who is to blame? How about replacing that with "how do we fix it"?

  • rate this
    +2

    Comment number 61.

    Quite right too, cash is far easier than all the others. Above all it is safer. The worst that can happen is you lose the bit you have on you. All the other payment methods can be stolen, hijacked, and vast amount lost on an ongoing basis. The stupid new attempts to make phone payments possible are just asking for trouble.
    The only thing safely useable will be a cash holding card, no system link.

  • rate this
    0

    Comment number 60.

    At my local ASDA they put up a decorative strip of mirror on the corner between wall and ceiling on the wall behind the tills. What they haven't realised is that people in the queue paying tend to spin the chip+pin machine away from the people behind them, in the direction of this wall...

    So look up towards the ceiling and you can see the person in front typing their pin in...

  • rate this
    +1

    Comment number 59.

    55.Artemesia
    "Not only that but name-calling and insulting each other too" You would think people would eventually get bored of posting xenophobes,little englander,right winger,left winger as insults and realise just because people have a different opinion doesn't mean they are wrong! Ironic really,those who revert to insults often call someone a bigot "intolerantly devoted to their opinion"

  • rate this
    0

    Comment number 58.

    I can't get Bill to go shopping with me, I simply refuse to take Johhny.

  • rate this
    0

    Comment number 57.

    With so many people buying on internet the danger is a future lack of shops.

    In any emergency, what are you going to do send off an order & wait a week. How will you pay if financial crash etc happens

    Internet shopping is creating a dangerous bubble so is cashless society via reducing actual available cash.
    You may save a few pennys but create REAL dangers long term + reliance on corporates

  • rate this
    +1

    Comment number 56.

    Some of these comments are rather giving away the average age of HYS posters.

  • rate this
    +3

    Comment number 55.

    34.bolloxmcfee -" @13 paulthebadger - The purpose is to let the masses discuss diversionary idiotic articles. HYS seldom opens commentary on important issues, sadly"

    The trouble is that when we are given 'important' issues, the discussion rapidly degenerates into ranting, either against the current Govt or against the previous one. Not only that but name-calling and insulting each other too

  • rate this
    +1

    Comment number 54.

    The main reason I use cash is that the transaction can't be automatically captured and put into a 'business intelligence' database and then used to constantly spam you with 'up-sell' and 'cross-sell' 'opportunities'. That's what the whole 'big data' mania is about - cpaturing as much data from as many sources as possible to sell you more stuff you don't need

  • rate this
    0

    Comment number 53.

    I haven't been in a shop in 2013 and the pub is the only place I have used cash this year. Did have a credit card once, but swapped for a debit card.

  • rate this
    +1

    Comment number 52.

    Many may sing the wonders of a computerised age, with electronic cards, databases on this and that, etc. etc., and sure computers have their uses, but there is one fundamental flaw to this type of world - computer technology is currently too insecure and also too error-prone. It is best not to rely on computers too much.

  • rate this
    +4

    Comment number 51.

    This is largely academic to me as I am a Kleptomaniac. However, if it gets too bad, I can always take someting for it.

  • rate this
    0

    Comment number 50.

    I usually use a debit card. Does anyone else find it irritating being told by the checkout to "enter your PIN" or "remove your card", you know, as it says on the card reader screen. I now try to follow the instructions on the screen as quickly as I can before they get the chance to treat me like I am illiterate. Aaargh!

    I might just return to using cash before I become too obsessed with it.

  • rate this
    +2

    Comment number 49.

    As a small business we prefer payments by card - we get charges on cash deposits over a limit. Our bank uses the Post Office to deliver its services, but we still need to make arrangements to take it in, worry about the security of carrying several thousand pounds in cash etc.For time and simplicity, card and internet payments win every time.

  • rate this
    -1

    Comment number 48.

    Because people no longer put their cash in the bank. They sleep on it and take a little out to the high street now and again.

  • rate this
    +3

    Comment number 47.

    Depends what I'm purchasing.

    For petrol and the big weekly shop its my credit card which I pay off in full the following month. For anything small its cash.

    For Christmas I save towards vouchers throughout the year.

  • rate this
    +9

    Comment number 46.

    Surprising findings from the BRC

    Personally I very rarely carry / use cash & rely on a debit card.

    The only time I tend to use cash is for low value items where the shop has a minimum spend e.g. my local paper shop has a minimum spend of £7 on debit cards

    Can't remember the last time I saw anyone paying for their "big shop" with cash at my local supermarket

 

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