Self-service coin counters can give grocers a new way to increase profitability. The industry is facing heightened pressure from consumers to provide more online options, but in-store customer experience still needs to be a top priority. Retailers should implement strategies that allow them to increase store traffic.
The business of online grocery retailing is highly complex. It increases pressure on good supply chain management and adds new financial risks. In addition, many grocers have been hesitant to sell products online because stores often increase revenue through impulse purchases, according to Reuters.
Major online retailers such as Amazon and eBay are getting involved in the grocery industry, which adds new challenges for local stores. In particular, Amazon wants to attract shoppers with the convenience of online grocery shopping and then upsell into other product categories. Some traditional grocers have entered the online market to keep up with competition. However, grocery e-commerce is difficult to pull off, as many retailers have discovered in recent years. Supply chain management for perishable goods is already a challenge, and coordinating shipments adds to the difficulties. The costs of deliveries may cause traditional grocers to avoid the Internet.
Local grocers need to focus on customer experience
Even though online grocery retail has increased in the past few years, it is unlikely that this channel will ever completely replace traditional shopping for consumers. However, there has been a marked shift in customer behavior, and grocers need to be prepared for additional challenges in the near future.
A recent report from Business Insider Intelligence revealed food and beverages are one of the last areas of opportunity for online sales because many other product categories have shifted online. Increased urbanization may lead to larger crowds and longer lines in grocery stores, which could push more affluent shoppers to the online market.
As this trend continues, grocers need to find proactive ways to increase or maintain store traffic. Personalized customer service is something that can often only be attained in a traditional brick-and-mortar setting. In addition, coin counting machines give retailers a competitive way to encourage traffic. Online shopping is starting to influence offline shopper behavior, and this means self-service channels are becoming more popular. Coin counters offer an added convenience to in-store shoppers, and they can benefit grocers as well. These solutions encourage increased foot traffic.
July 10, 2014