What do bank branch closures mean for retail?

 

As more and more of us take care of our banking needs online or on mobile devices, the need to go in to a local bank branch and see a friendly face is fading fast. In the first half of 2017, more than 1,700 bank branches closed their doors, and the second half of the year continued the downward trend.


The decrease in branches raises two interesting issues for retailers:

  • How could this change individual stores’ deposit procedures?
  • Should you offer cash back to meet customers’ cash needs, and if so, how do you manage each store’s cash on hand?
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8 silly things retailers do with their cash

 

Retailers don’t always give their cash the attention it deserves. Whether you take a little cash in your stores or a lot, it can still present a challenge if it isn’t managed properly.

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Identifying and avoiding retail blind spots

 

For a careful driver, there’s little as frustrating as an accident caused by an object or vehicle in your blind spot. You’re watching the road distraction-free, you checked your side and rear view mirrors — everything looked clear. But then, crunch. It was an impact you weren’t expecting.

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