Although the market is growing increasingly competitive, grocery stores should invest in coin counting machines to stay ahead of their competition. While it is true that consumers tend to shop using credit cards, checks and mobile devices rather than coins or cash, coins are still used and should not be ignored. According to The Penny Hoarder, consumers save on average up to $300 dollars when they collect their change. For some, this means a few weeks of groceries, while for others it means valuable spending cash. Daily Finance recommends consumers should only be using paper cash when shopping and set aside all change to be used at a coin counter to add up valuable savings. Grocers should invest in coin counters to help their consumers achieve spending goals and raise profits. Here are three other reasons why grocers should offer coin counting machines:
Coin counting machines increase profits in two ways. For starters, stores that invest in these machines can charge small fees from people who use the service. Conversely, consumers who use the machine are also more likely to buy a product as a courtesy purchase. These small purchases may total as much as $20 . These courtesy purchases as well as usage fees can add up to be valuable revenue for a grocery store.
Self-service coin counters help all stores take a stand against their competition. In today's world, it is sometimes difficult to find a reliable coin counter unless a consumer goes to a bank. Grocery stores can provide an additional benefit for consumers by offering coin counting machines to help count change. Additionally, some consumers will go into a grocer just to use the machine. This brings a new stream of revenue for grocery stores and the opportunity to convince new shoppers to come in and visit.
Self-service coin counters give consumers the positive experiences they desire with the benefit of turning old coins into useful cash. Today, people are more likely to go to a store that provides stronger capabilities than a store that simply provides great savings. This is why luxury grocery chains are growing more popular with younger consumers. Because of this, all grocers should invest in these machines to provide extra services for their customers.
May 12, 2016