NEWS
6 ASIAN TRADER 29 NOVEMBER 2024
A vast majority of consumers
still feel cash is their most widely
used payment method, shows a
recent survey.
According to “Why Won’t
Cash Just Die?!!”, a new research
report from PayComplete,
surveying 5,000 consumers
from the UK, US, Germany,
France, Italy, and Spain, 89% of
consumers surveyed consider
the ability to pay in cash as
important for their customer
satisfaction. 90% of consumers
surveyed said that they use cash
the most.
One of the strongest drivers
for cash use is its close associa-
tion with the community, from
protecting favourite shops to
education and social inclusivity,
states the survey report. Cash
continues to be a beacon of
reliability in difcult situations
with over two-thirds (69%) of
consumers surveyed carrying
cash in case of an emergency.
More than three-quarters
(81%) say they use cash to
minimise data sharing while
over a third (34%) of those
surveyed prefer using cash to
manage their spending.
The report warns that
organisations that tell custom-
ers that they can’t pay with cash
are igniting negative emotions.
These feelings range from
disappointment (31%) to
frustration (21%), and even
anger (17%).
One in three (33%) cash users
fall within the 25-44 age range,
and nearly two-thirds (60%)
belong to the mid-range income
brackets, earning between
£19,000 and £63,999.
“All the noise around the
death of cash is just that. While
digital and electronic payment
providers have been quick to kill
and downplay the importance of
cash in consumers’ lives, our
research shows it continues to
hold a significant place in the
payment ecosystem,” said
Simon James, CEO of PayCom-
plete.
Customers declare that ‘Wad is God’ remains true for most
‘Cash payment option is key
‘Cash payment option is key
for customer satisfaction’
for customer satisfaction’
Forecourt operator EG
Group has completed
the sale of its UK
forecourt business and
certain foodservice
locations to co-founder
Zuber Issa.
The group said the
transaction proceeds
will be used to repay
debt.
EG Group last year
sold most of its UK and
Ireland business to
supermarket group Asda, but
retained 32 sites in the UK.
As previously announced,
following completion of the
transaction, Zuber has now
stepped down from his
executive leadership
capacity at EG Group,
becoming a non-executive
director.
His brother and co-found-
er Mohsin Issa will lead the
group as sole chief executive.
EG Group has in June
announced the sale of
the remaining UK
business for £228
million to Zuber, who
will focus on leading
and growing a new UK
petrol forecourt and
convenience retail
business, including
food service, to be
branded “EG on the
Move”.
“Mohsin and I have
realised and surpassed
our own expectations, and
the group is a UK success
story on a global stage,” Zuber
said. “I am very proud of what
we have built together and
look forward to its continued
success.”
EG Group completes divestment
of forecourts to Zuber Issa
Select & Save rolls out
Select & Save rolls out
rebranding of UK estate
rebranding of UK estate
Select & Save, which claims to be the
UK’s sole independent symbol group,
is rolling out a new identity across its
UK estate. Over the past year, the
group has invested in its brand to
distinguish itself in “an increasingly
bland and static market”.
Boasting the youngest manage-
ment team among symbol groups, the
group’s retailer package includes
rebates of up to 5.5% and other
incentives. Notably, Select & Save
ofers a Relief Manager service at no
cost, allowing retailers to take well-de-
served breaks — a first in the industry.
Co-op to install 300
Co-op to install 300
digital media screens
digital media screens
The Co-op said it will install 300 new
front-of-store digital media screens
to turbo-charge its retail media
ofering, taking the total number of
screens to over 9,000 across its
store estate.
In partnership with retail media
operator SMG, the move will enable
FMCG brands to deepen their
engagement across Co-op’s
convenience stores.
The rollout will see digital screens
introduced to 300 of Co-op’s
highest footfall, urban locations,
including Greater London (12%),
Greater Manchester (5%) and North
Yorkshire (2.5%), with 24 stores
planned to go live each week until
January 2025.
NewstrAid rounds of
NewstrAid rounds of
185th year with carol
185th year with carol
concert
concert
Industry charity NewstrAid will be
rounding of their 185th Birthday
celebrations with aCarol Concert at St
Bride’s Church, Fleet Street on
Monday 2 December, 6.45pm.
This festive event, which has been
made possible thanks to support from
over 20 newspaper and magazine
businesses, will include music from
the St Bride’s choir and festive
readings from industry colleagues.
The concert is the last event to take
place in celebration of NewstrAid’s
anniversary with events during 2024,
including a scavenger hunt, a special
lunch for the charity’s volunteers and
a summer rafe.