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Grocery stores can use self-service coin counters to attract customers

Coin counting machines offer a creative way for grocery stores throughout the U.S. to attract more customers in today's unpredictable economy. For several years, many small and medium-sized financial institutions have partnered with businesses in the food industry in unique ways. In certain stores across the country, consumers can essentially access bank-related services while shopping for various household items. This dynamic creates a mutually beneficial relationship for both banks and grocery stores that want to maximize business.

However, the changing nature of the financial services industry in recent years has threatened many of these partnerships, posing new challenges for grocery stores to continue getting customers through the door. According to the news publication Crain's Chicago Business, TCF National Bank recently announced it will be closing 37 of its branches that are attached to Jewel-Osco stores in Chicago and surrounding suburbs. The decision comes largely out of a need for TCF to consolidate costs.

While similar trends nationwide may come as bad news for grocery stores that have benefited from sharing space with local banks, branch closures may also present new opportunities for the owners of food shops to come up with their own methods for targeting new customers. The Times of Northwest Indiana, a daily newspaper, said many grocers have become more competitive in recent years by carving unique niches and serving the needs of individual shoppers.

Supermarket closures also give grocery chains opportunities to serve shoppers
Some grocers may find an increased need to provide additional services, such as those provided by a self-service coin counter, when other local supermarkets close their doors. Food chain Dominick's has announced it will close its Chicagoland stores by the end of the year. As the locations shut down, the Chase bank branches located in these facilities will also no longer serve local customers. As neighborhood residents turn to other grocers for their daily food and household purchases, these enterprises will need to ensure they have some of the financial services, such as self-service coin counting machines, these new patrons are accustomed to using.

Installing self-service coin counters on site is one way for store owners to continue attracting business when partnering banks close in-house branches or when local grocers with their own financial services shut their doors. Offering an easy-to-use machine that quickly transforms loose change into cash may ultimately lead to an increase in sales in the long run, as more people may be inclined to spend time browsing the aisles.

December 16, 2013