Self-service coin counters are a significant element in changing supermarket strategy to include a wider range of services that attract more customers and encourage frequent visits. Supermarkets and grocers belong to one of the few categories of stores that a large majority of shoppers have to frequent. This positioning helps them build loyalty among a customer base and encourage repeat shopping. However, there are many more steps grocers can take to attract customers and give them reasons to visit even more frequently. Offering additional services like coin counting machines, among a variety of others, is one way to attract customers outside of their regular, planned trip to the supermarket.
Supermarkets and larger grocery stores grew out of smaller locations that initially offered a relatively limited selection. The days of trips to a number of different shops - the butcher, the baker, the grocer, the dry goods supplier - have moved toward a singular location where all of these services can be fulfilled at once. This approach improves convenience by reducing time spent running errands and making it easier for shoppers to plan many days' or weeks' worth of purchases all at once. The majority of shoppers would rather visit one location and complete a variety of necessary tasks than have to walk or drive across town, spending more time on what is essentially the same process.
This kind of development and assumption of roles previously filled by specialized neighborhood shops is clearest when considering the supercenter retail locations that have sprouted up during the last few decades. By combining a wide variety of consumer packaged goods, clothing, tools, implements, hardware, accessories and shelf-stable food with the trappings of a full-service supermarket, big-box retailers have created an experience that's closer to a one-stop shop than any other option available to a significant number of consumers.
The growth in the overall size of supermarkets and the amount of available floor space reflects the development of this trend. According to research data from the Food Marketing Institute, the average supermarket has grown approximately 11,000 square feet between 1994 and 2013, the earliest and latest years for which data is available, respectively. The median supermarket has a total square footage of 46,500.
Self-service coin counters represent one of the most easily actionable elements of offering many different services under one roof. While making major additions to an existing space can be difficult and developing partnerships with other businesses takes time, self-service coin counters are easily purchased, installed and operated, quickly bringing their benefits to your customer base. When customers can complete a common banking chore at the same time they handle their grocery shopping - and potentially spend the bills they receive after converting coins inside the same store - they receive a significant benefit alongside retailers. In many ways, coin counting machines create a win-win situation for everyone involved.
July 28, 2016