News & Events

News Hub

Adding coin counting machines to consumer services is a wise business move

Adding coin counting machines to consumer services is a wise business move

Many businesses like grocery chains are always looking for new ways to drive traffic to their stores, and coin counting machines can offer a reliable solution. Because so many people are switching back to cash to avoid credit card debt, self-service coin counters are a smart investment to bring people to the storefront.

Attracting new business
By deploying coin counters, store management enhances visibility when people are looking to find a place to count savings they've made over the years or even rare legal settlements. A KSDK-TV report said that a Los Angeles man recently received a large insurance company settlement. According to the story, some $21,000 of the settlement arrived in coin form with more than 16 buckets of varying denominations. A self-service coin counter would come in handy when it comes time to convert those coins into cash.

Many supermarkets and grocery stores have already installed coin counters in their buildings, and there are others who are just waiting for the right time to bring state-of-the-art machines into their operations, according to Kiosk Marketplace. Because consumers are using the machines to transition from coin to cash, there is a good chance that, once they're done changing the money, they will find something to buy within the store.

Grocery store managers have been known to create in-store promotions linking the coin counters with store goods or discounts in efforts to attract more customers. An Albany Times-Union blog story detailed how some stores offered equal value e-certificates for every amount of change deposited in their coin counters.

Shepherding new traffic by utilizing a service that excites customers is a proven way to attract new business. Capitalizing on the move toward coin to cash conversion is something a smart business or owner can use to increase foot traffic, create customer loyalty and satisfaction and put a boost in the monthly bottom line.

08/15/2014