Ilenot --
What an interesting question! As a marketing professional, I can
guarantee that these things always segment in interesting ways. Also:
there are a number of businesses that would be interested in this:
including vending machine companies; credit card and debit card
companies; and the U.S. Bureau of Printing & Engraving, as well as the
U.S. Mint.
A MasterCard study done last October indicated that about half of the
population carries less than $20 and that 86 percent wanted to use
cash less often.
MasterCard International
"MasterCard PayPass Trials and Survey Demonstrate Momentum of
Contactless Payments" (Nov. 17, 2003)
http://www.mastercardintl.com/cgi-bin/newsroom.cgi?id=797
The American Bankers Association (ABA) and Dove Consulting have done 3
studies of cash/debit/credit usage and cash continues to decline. For
the first time since the studies started in 1999, the 2003 study found
that cash and checks were less than 50% of purchases. The trend is
strongest among younger people:
Wachovia Bank
"Plastic Passes Cash, Checks as Shoppers' Most Popular Method of
Payment," (Charlotte Observer, Dec. 22, 2003)
http://www.wachovia.com/small_biz/page/0,,447_638%5E81749691,00.html
If you'd like to see the full ABA-Dove studies, the ABA has them
available for sale:
Dove Consulting
Both PIN and Signature Debit Get Strong Support From Consumers" (Jan. 8, 2004)
http://www.consultdove.com/PR-2004-01-08CPPS.htm
A Canadian study quantified just which group (18-24 year olds) is most
likely to use debit cards -- and that 61% of them use them actively:
Interac Association
"For the first time, Interac® Direct Payment surpasses cash
as Canadians' preferred way to pay" (Dec. 5, 2000)
http://www.interac.org/en_n2_33_pressreleases3.html
Certain nationalities carry more cash, either because credit card use
is more limited than in the U.S. (Germans, for example) or because of
habits in their home country (such as Japanese:
http://iteslj.org/Lessons/Trabich.-Travel.html
Despite looking at several hundred Internet links, there doesn't seem
to be detailed data publicly available about gender, occupational or
other demographics on the likelihood of people carrying cash.
Google search strategy:
"carrying cash" + habits
"carrying cash" + studies
"American Bankers Association" + "Dove Consulting"
Best regards,
Omnivorous-GA |
