It's time to round up the spare change and find a coin-counting machine.
There's a time in everyone's life when they find themselves with an abundance of quarters, nickels and dimes, and they don't know what to do with them. Instead of carrying around a bunch of loose change, many people want to seek out a way to turn those coins into cash, and that's where grocery stores can make their mark.
Supermarkets can utilize coin-counting machines as a way to entice shoppers to choose their store over one of their competitors. Similar to having a Redbox DVD rental kiosk, having coin-counting machines for customers is an additional way for grocery stores to market themselves as a convenient one-stop shop.
The trend is also popular among several successful companies. Mega-retailers such as Walmart, Superâ Target and Kroger Food brands have self-service coin machines at their venues, according to First Quarter Finance.
For many retailers - such as Lewis Fresh Market in Waukegan, Illinois - coin counters have also helped boost their revenue from the machine's 8.9 percent processing fee. In the first month in store, Lewis Fresh Market's coin-counting machine took in $10,000 in coins. Store employees have been able to use the coins to help stock registers in each of their three stores.
"We take bags of coin to the small Cummins coin wrapping machine in our office and roll them for use in our registers," Anna Taracena, one of the company's customer service managers, said.
To get the word out, stores should advertise their coin-counting machines as an amenity, just like Lewis Fresh Market stores did. Employees stapled a small notice about the machine to customer receipts to market the machine, and they saw a big increase in usage shortly after.
January 26, 2017