Self-service coin counters can give grocery stores the edge they need to attract customers from the competition. However, it's not just other grocery chains businesses must compete with anymore.
In recent years, the popularity of farmers markets has risen in the United States. According to the latest data from the U.S. Department of Agriculture, the number of National Farmers Market Directory listings has increased 76 percent since 2008. The USDA now recognizes well over 8,000 farmers markets operating throughout the country.
"According to USDA's 2014 National Farmers Market Directory, the states with the most farmers markets reported are California (764 markets), New York (638 markets), Michigan (339 markets), Ohio (311 markets), Illinois (309 markets), Massachusetts (306 markets), Pennsylvania (297 markets), Wisconsin (295 markets), Virginia (249 markets) and Missouri (245 markets)," the USDA stated in a media release. "All geographic regions saw increases in their market listings, with the most growth in the South."
Fortunately, there's plenty grocery stores can do to maintain a lead in market share. According to Progressive Grocer, one option is follow the trend toward local foods. Farmers-market shoppers like locally grown food because it's fresher and supports businesses within the community. Grocery stores can capitalize on this sentiment by investing in local foods themselves.
Of course, unlike outdoor markets that rely on a loose conglomeration of stands, grocery stores can offer customers other services besides the chance to purchase goods.
For instance, by installing self-service coin counters, businesses can give consumers the chance to cash in their change, eliminating the need for them to visit a financial institution. An added benefit is that stores will be providing potential shoppers with money inside a location where they can spend it.
It's for this reason that many grocery stores have decided to invest in coin counting machines.
September 30, 2014