DETROIT – In an era of credit card readers on cell phones, does anyone really need cash anymore?
There's a belief that the world is headed toward a cash-less market. But how is that playing out at the cash register?
Detroit's Kit and Ace is a new shop where customers can spend $328 on a scarf that's on sale for $368.
Attorney Mike Dilaura, of Troy, was inside the store Thursday and got quite the surprise at the register. He pulled out $100 bills and handed them over.
"We don't take cash," the employee said.
"Are you kidding?" Dilaura asked.
The store doesn't take cash.
"It's a pretty upscale store, so you figure they want people coming in with money in their pocket and it's easier to spend, you know," Dilaura said. "It's cash."
Workers at the 50-store chain said it's all about making the buying experience seamless and efficient.
"I think that makes sense for Kroger," Dilaura said. "Does it make sense for a high-end retailer that sells $100 pants? I don't know. You know what I mean? How big of a line are they going to see in this store? Is it going to save that much time taking a card over cash?"
Kit and Ace shopper Sara Woehrlen, of Royal Oak, said she didn't know the store didn't take cash, but it didn't matter for her. She said she doesn't have much use for cash.
"You don't need cash much," Woehrlen said.
To her, cash does impede progress. While you can try to invest money to make more, she likes the so-called cash back feature of particular charge and credit cards.
"American Express and Visa for miles," she said. "Macy's, all the department stores, and whatever they're willing to give you."
Some Lululemon stores don't accept cash, and Lululemon's owner is the father of Kit and Ace's owner, so there is a connection.