November 19, 2013, Mt. Prospect, IL — Retailers are always looking at how to best allocate capital, and research indicates that more retailers are planning on increasing their spending on technology in the upcoming years.¹ Cummins Allison, the leading innovator and provider of currency, coin, check handling solutions and automated teller machines (ATMs), offers flexible options for retailers and advises them on ways they can leverage the benefits of self-service coin counters to grow their business and increase their bottom line.
Retailers understand the importance of technology adoption. In fact, according to a study by Platt Retail Institute, 72 percent of retailers believe that technology is important to their business success, and this is expected to reach 83 percent by 2014. This is consistent with findings that 58 percent of retailers expect capital spending to increase, of which 51 percent will be invested in technology.² One investment in technology that can be turned directly into capital for retailers is self-service coin machines.
Self-Service Coin Machine Benefits and Capitalizing on Cash-In-Hand
Whether managing a chain of superstores or a small independent shop, self-service coin counters can deliver powerful benefits in addition to offering customers the convenient service of cashing in their loose coins. Coin machines help draw in traffic, and those customers tend to spend their new cash-in-hand at the retailer’s store, boosting in-store sales. Cummins Allison coin counters are designed to maximize customer satisfaction and provide tremendous feature flexibility as well as suit the individual preferences and operational requirements of retailers. These counters actually give retailers more profit per square foot, and here’s how:
Better ROI – coin redemption is a growing need, and cash in hand is the top motivator for customers to convert loose change into spendable dollars.³
Increase revenue – with multiple choices for adding coin machines to stores, retailers can maximize revenue according to their needs and capital spending budget.
Save on fees – retailers can recycle coins in store and reduce armored carrier fees, or rely on Cummins Allison to provide this service.
Flexible Choices Increase Profitability Potential
Coin redemption can be good business for retailers, and this service is continuing to grow. Cummins Allison offers a choice of four flexible self-service coin machine programs to address the unique needs of the retail industry, where floor space is valuable and capital is precious. With more options and opportunities, retailers can select the coin counting solution that will deliver the most profit. Four flexible self-service coin machine programs from Cummins Allison include:
Placement: This option requires no investment, instead Cummins Allison places the coin counter free of charge and manages the entire coin counting solution.
Lease: Reap the value of buying and realize potential tax benefits without the capital investment.
Rent: With a fixed monthly payment, retailers can count on a fixed expense and the ability to set user fees and retain those profits.
Own: Retailers can maximize long-term profitability and return on investment (ROI) through self-service coin machine ownership.
“We’re allowing retailers to customize how they add coin counters to their stores, how the machines look and how they process the coins—it’s complete flexibility,” said Jim Weaks, vice president, Cummins Allison. “We now have various programs to complement our high-quality, customizable self-service coin machines. With over 20,000 coin counters in operation daily, we can help your stores increase revenue and keep your customers happy.”
For more information on how retailers can take advantage of self-service coin machine options and hands-free coin management programs, visit http://www.cumminsallison.com/us/en/products/coin-counting-machines/ssc-programs.
¹,² Platt Retail Institute: Retailers’ Investment in Technology: An Industry Perspective; September 2012 http://www.plattretailinstitute.org/documents/free/download.phx?navid=366&itemid=419
³ Top Six Drivers of Consumer Use of Self-Service Coin Machines by BranMark Strategy Group (2010)
4 CoinNews.net: US Mint Coin Production in April: New Quarter and $1 Coin Mintages; May 2013
About Cummins Allison
Cummins Allison is a global leader in developing solutions that quickly and efficiently count, sort and authenticate currency, checks and coin. We also offer a complete line of full-function automated teller machines (ATMs). Our leadership in technology and product innovation spans more than 125 years. CumminsAllison serves the majority of financial institutions worldwide, as well as leading organizations in retail, gaming, law enforcement and government. Ninety-seven percent of our customers would recommend our products and services. The company holds more than 350 patents and invests double the industry average in R&D. Our world-class sales and service network includes hundreds of local representatives in more than 50 offices in North America, wholly-owned subsidiaries in Canada, the United Kingdom, Germany, France, Ireland and Australia and is represented in more than 70 countries around the world. For more information, visit cumminsallison.com.
Carol Moore – Vice President Marketing
Cummins Allison Corp.
Outlook Marketing Services, Inc.