Cash counters are a valuable tool for grocery stores that expect an increase in currency transactions as a result of comprehensive rebranding efforts. While the supermarket industry continues to satisfy a large market niche targeting individuals who rely on a robust selection of quality food, beverage and household products, many businesses continue to tweak their business models to accommodate changing consumer preferences.
According to Supermarket News, a weekly trade publication covering the retail industry, Jewel-Osco recently announced a large-scale remodeling initiative of 25 of its Chicago-area stores. With a completely redesigned in-store experience, the grocery chain will offer additional services, as well as a greater variety of perishable goods and specialty items. Executives from Jewel-Osco celebrated the completion of the company's first successful redesign attempt at a store on Ohio Street and State Street in downtown Chicago.
Paying attention to shopper behaviors
Marianne Bickle, director of the Center for Retailing at the University of South Carolina, wrote in Forbes about how current economic conditions have transformed consumer preferences in the supermarket industry. She said many shoppers have become more reluctant to make large purchases during individual trips because of increases in the cost of food, as well as an overall reluctance to spend money as freely as before the Great Recession. As a result, many businesses are focusing their efforts on emphasizing overall brand attributes rather than touting prices.
"Grocers need to identify methods to entice consumers into the store," Bickle wrote. "Marketing efforts that include the words 'low price,' 'located near you' and 'wide selection' may help stimulate consumers into selecting your store. Wise strategic planning of the store's merchandise is an obvious decision."
As grocery stores adjust their business models to lure more customers through the door, store owners can invest in money counters to streamline backroom processes. Just because consumer spending levels are lower than usual doesn't mean people are still willing to make small cash purchases for everyday products at supermarkets. Rather than manually counting daily revenue, cash counters make it easier for store owners to devote more time to encouraging their staff to deliver a quality customer experience during business hours.
November 1, 2013