You have probably seen headlines declaring something like, “Young Americans Hate Cash.” However, the truth is quite the opposite.
Millennials use more cash than anyone else.
According to the Federal Reserve Bank of San Francisco’s 2015 Diary of Consumer Payment Choice, released Nov. 3, Americans between the ages of 18 and 24 used cash in 38 percent of all payment transactions last year.
It’s clear from this study that marijuana dispensaries will remain cash intensive businesses (CIBs) for some time. Especially considering how many dispensary customers are millennials.