Do you think customers would object to "no coin change"?

[inhawaii]

I'm my B&M store, do you think customers would object to a "no coin change" policy,

rounding their purchase up or down to the nearest dollar?  No need to stock the till with coins!

You think that's even legal?

[yuzuha]

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@soh.maryl wrote:

If I knew that was your policy, I would not shop at your B&M store.

Is it really difficult to stock the tilll with coins? I've never been a merchant, so I really want to know. 

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For a while during the pandemic at least, yes, it actually was. Fortunately it didn't affect us too badly as more than 95% of our customers use cards or Apple Pay/Google Pay, but it definitely was a thing.

[stainlessenginecovers]

It is against the law to 'over charge' a customer more than the posted price (see fines by Weights and Measures) no matter what signage you put up. 

You could always round to the nearest dollar always in the buyers favor, but never more.

We were fined by a big box store in the mid 90's $10,000 x2 for 2 signs that W&M found and had to go through a 35000 sku, 150,000 sq.ft. store with and check EVERY price. Then instead of just 'handing' price changes to each dept. head, we hired a full time 'price change person' that put them up in the entire store on a daily basis (price changes were always M-Th only)

As stated by others, all over CA and NV almost every store says "Due to national coin shortage we ask that you pay with exact change or use other means of payment"

[mybigsale]

Do you think your customers would object to your landlord charging you a 10% fee on every item sold in your store including tax and cost of transporting the items to your store?

No - your customers would be clueless and complain your items seem overpriced once you adjusted your pricing.

[richard1rst]

There are several store I have been in where the cashiers asks "would you like to round that up to (the next dollar amount) as a donation to (name of a charity)". There are also signs on the cash register to that effect. At least in this case it is voluntary. I have noticed that some people do and some do not.

That doesn't solve you coin shortage of course. But maybe if you raise every price by 25-50 cents and then ALWAYS round down. That should work out to be about the same outcome. BUT It will certainly leave your customers with a better feeling than being forced to overpay.

[byrd69er]

How about if you rounded their purchase down to the nearest dollar?

Would you go for that?

[angelno10]

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@inhawaii wrote:

I'm my B&M store, do you think customers would object to a "no coin change" policy,

rounding their purchase up or down to the nearest dollar?  No need to stock the till with coins!

You think that's even legal?

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Not unless you always round in the buyer's favor. 

[slippinjimmy]

In my part of the world the convenience store on the corner is the only retailer who has customer that use cash to pay on a regular basis. The same is true for pot shops but for pretty much anything else 99% of customers use debit or credit.

At my own B&M store that closed 21 years ago we were running about 75% debit/credit, no doubt it would be over 90% these days.

I remember the good old days when I had to send someone to the bank every day or two to get another giant bag of coin rolls. Didn't like that part of it but all that cash coming in did provide some "opportunities" that would be enjoyed by the "What? I have to report my eBay sales to the IRS????" crowd.🤔

[lepke1979]

Not a fan. Would be better off not accepting cash at all or a "round up"policy 

[chapeau-noir]

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@albertabrightalberta wrote:

Another option that many stores do is to keep a bowl of loose change in front of the register. People can take and/or leave change they need (to round up) or don't want to carry (if they receive). 

I did use Mr. Google and found that there's no law against refusing change or rounding. But I'm with those who'd do whatever works in MY OWN favor.

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That's what you usually see around here, though few use cash at all - usually debit.

BTW, probably just typos but:

Except:   Not including, apart - "An exception to the rule"

Accept:  Consent to receive - "We will accept this"

[lepke1979]

Or do like movie theaters do and do flat pricing where tax is included so everything is already rounded up or down.

[simply-the-best-for-you]

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@axiombody wrote:

I do get annoyed when the store, now since Covid, only excepts exact change or otherwise you can use a card for a 50 cent fee.  If your going to charge to use a card I expect you to have change in your till.

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That's actually illegal in the US or I should say against credit card policies & if they get reported to the CC co's, they can take away the merchant's privilege of accepting that CC.   The CC companies take it pretty seriously.  

OP, I would not be ok with that.  You have a particular price, I expect to pay that price & receive the appropriate change. 

[lepke1979]

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@lepke1979 wrote:

Not a fan. Would be better off not accepting cash at all or a "round up"policy 

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Meant round down, not up.

[forward-motion]

I don't like it; I wouldn't go to that store. 

[kabilab]

In June of 2020, I tried rounding to the nearest dollar, but, due to a few objections, substituted with rounding to the nearest quarter beginning in July. One customer questioned my practice, but when I inquired as to if he wished to cancel his purchase, he declined. I am still rounding and quite comfortable with my decision. I do, though, subscribe to the adage that "One persons meat is another's poison."

[yuzuha]

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@slippinjimmy wrote:

In my part of the world the convenience store on the corner is the only retailer who has customer that use cash to pay on a regular basis. The same is true for pot shops but for pretty much anything else 99% of customers use debit or credit.

At my own B&M store that closed 21 years ago we were running about 75% debit/credit, no doubt it would be over 90% these days.

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If I had to estimate, I would say my B&M job is definitely 90-95% credit & debit or Apple/Google Pay. It was always pretty high but the pandemic made it so that almost no one uses cash anymore.