Study warns: Supermarket customers are withdrawing more cash

Study warns: Supermarket customers are withdrawing more cash

More and more supermarket customers are deciding to withdraw their cash directly at the checkout instead of going to the ATM. A new study suggests this shift could put pressure on retailers. According to Horst Rüter, author of the EHI study, it could be problematic for retailers to maintain this service, especially if the use of cash continues to decline. In such cases, retailers would have to obtain additional cash from utilities to meet demand.

The use of the Girocard for cashless payments has steadily increased in Germany, with retailers also paying out more money. In 2023, retailers have already paid out more than 12.3 billion euros to customers, compared to 2.23 billion euros in 2019. This development is also due to the convenience with which customers can pay by card in the supermarket, coupled with the option to withdraw money at the same time.

Despite increased cash withdrawals, the EHI study showed that the share of cash in total sales is declining and is expected to continue to decline. This could lead retailers to take measures such as setting lower caps on amounts paid out. The increasing demand for cash could be partly due to the decreasing number of ATMs as well as the existing preference of some consumers for cash payments.

Study author Rüter predicts that by 2025 only 25 percent of sales will be transacted in cash, compared to the current 35.5 percent. Despite these developments, some retailers such as Rewe and Rossmann are optimistic and see no restrictions in their service offering, while dm is closely monitoring the situation and discussing possible fee issues with the banks.