Coin counting machines help grocers stand out in crowded local markets
Grocery stores in competitive local markets can set themselves apart by offering additional services such as coin counting machines to their customers. Businesses in this industry often choose from a number of strategies to claim a specific target demographic. For example, some of these enterprises specialize in selling organically produced food products. Others aim for targeting a budget-conscious crowd by offering heavily discounted prices. The more grocery stores there are in a given area, the harder it can be attract a niche audience. However, allowing shoppers to access machines that automatically convert coins into cash can take competition to a whole new level.
Saturation of local markets has become a problem for many grocery stores around the nation. According to The Indianapolis Star, the growing number of food retailers in central Indiana has led many of these establishments to take drastic measures to attract more customers. In fact, the newspaper reported that at least 18 enterprises are currently renovating their stores or have plans to expand in the near future. Much of this growth in competition has to do with the fact that local consumers have demonstrated an interest in spending more money on fresh food and produce. Similar trends have emerged in Billings, Mont. An article in the Billings Gazette indicated that the recent opening of a Lucky's supermarket has caused the other five grocery stores in the city to worry about their ability to continue generating strong profits.
Self-service coin counters offer a unique opportunity for these businesses to think outside of the box and find creative ways to attract new customers. Shoppers place a high value on convenience. Making it easier for customers to get two errands completed in one trip will leave a strong impression on visitors that may encourage them to keep coming back.
March 31, 2014