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Question
What are the disadvantages of cash discounts?
What are the disadvantages of cash discounts?
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Solution
The disadvantages of cash discounts are:
- Credit cards are more convenient for customers.
- Cash is riskier. More cash on site means a greater security risk.
- Cash can be costlier to your business.
- People spend more when they pay with a credit card.
- You could anger or lose card-carrying customers.
The disadvantages of cash discounts are:
- Credit cards are more convenient for customers.
- Cash is riskier. More cash on site means a greater security risk.
- Cash can be costlier to your business.
- People spend more when they pay with a credit card.
- You could anger or lose card-carrying customers.
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