Coin counting machines can bolster a supermarket brand. Their usual presence near the front entrance of a store invites customers in. They can promote multiple products and services, from private-label brands to partnerships with national names. The machines, through use of an on-screen display, can also announce and market new in-store or intracompany developments. This can include store openings or concepts that help boost business. There's also the added benefit of turning coins into cash, which mixed with this advertising can help guide sales to key areas. If a grocery store needs to attract attention, these counters can help.
One of the more interesting developments in the food retail sector in 2015 is Whole Foods Market's new store concept, named 365 after its private-label brand. Addressing what it believes to be a weak spot in its business model, the new supermarkets will offer lower-priced goods and produce in storefronts with a smaller footprint than the flagship brand. The intent of these stores looks to counteract the "Whole Paycheck" reputation that the company has due to the higher-than-average costs of its products.
At the same time, Whole Foods doesn't believe the 365 stores will directly compete with and cannibalize sales from its primary locations when they open in mid-2016. During a meeting with investors sponsored by Morgan Stanley, co-CEO John Mackey took their primary concern to heart, using the term disruption to describe the sentiments of losing customers to a lower-end brand.
"I don't think 365 is going to disrupt Whole Foods Market," Mackey said, according to Supermarket News. "I think it will actually help the key brand to evolve because the stores are going to introduce some new ideas that will accelerate Whole Foods' evolution."
Whole Foods envisions 365 catering to customers who may not regularly shop at the flagship marque due to higher prices. As the company sees it, the two brands will complement each other, with the former serving as both a source for groceries for a different audience and a gateway to the larger stores. Intertwining the concepts requires clever marketing, however. One way is to have a consistent theme, and self-service coin counters are a great method in making that happen. Their prominent location combined with extensive real estate on the panels and on-screen displays encourage shoppers to use both stores.
January 18, 2016