Recent research has proved that, for independent retailers; cash is far from obsolete.
In 2023, The British Independent Retailers Association (BIRA) which works with over 6,000 independent businesses across the UK, ran a survey which found that cash is still of high importance for independent retailers.
The survey was completed by over 650 independent retailers nationwide and found that the majority of retailers continue accepting banknotes and coins, despite the rise of card and digital payment methods. In fact, for 65% of merchants polled, cash still accounts for over 20% of sales revenue.
The survey shows that 38% of retailers said they would only stop accepting cash if there was a closing down of a bank branch or Post Office in their area.
Linked below, you will find two posters that you can display in your shop to remind your customers that cash is king: