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If a high end retailer like Gucci decided to stop accepting cash, who exactly would that harm?
by farzinadil 3y ago
If a high end retailer like Gucci decided to stop accepting cash, who exactly would that harm?
- bsder 3y agoNobody. Nobody cares whether Gucci accepts cash. Cash laws are about interacting with your grocery, your gas station, your local government, etc. However, I'm not going to be particularly worried that Gucci has to accept cash transactions to make sure that Walgreen's also has to accept cash. Somehow, I bet Gucci will be just fine.
- farzinadil 3y agoBusinesses understand their clientele. In a free market, businesses like Gucci might elect to go cashless, while grocery stores, gas stations, and local government will continue to take cash without being forced to since it is in their economic interest to do so.