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Self-service coin counters allow grocers to stay competitive

Self-service coin counters allow grocers to stay competitive

Coin counting machines are an excellent way for traditional grocery stores to maintain a high level of foot traffic in the face of increased competition from a growing number of online options. E-commerce has proved to be disruptive in many retail sectors, and the grocery industry is no exception, according to Consumer Affairs.

Some online companies like Amazon and Google have entered the same-day grocery delivery market, while retailers with a brick-and-mortar presence have stepped up to offer delivery options as well. While an increase in online ordering has caused many store owners to be concerned about maintaining traffic, the traditional grocery experience is not going anywhere.

Citing data from PwC, CNBC reported that only 1 percent rely on online orders as their primary method of grocery shopping, even though these options are present in many metropolitan areas. One of the reasons this channel is not very popular for grocery shopping is because consumers can't see, touch or smell products before purchasing them, especially when it comes to produce.

Grocers need to prepare for the future of online retail
Although online grocery sales do not currently account for a significant portion of total sales in the sector, consumers may be attracted by the additional convenience in the future, according to CNBC. Because millennials will have more purchasing power and urbanization is increasing in many areas, online grocery shopping could rise in popularity over time.

Another reason online grocery retail could be detrimental for traditional stores is because online purchases would decrease impulse buys, Consumer Affairs stated. When people purchase food online, they tend to stick with only what they need. In brick-and-mortar stores, there is always the chance that consumers will add a few extra items to their carts, which allows retailers to increase revenue.

Because of online grocery's potential, stores need to find ways to raise traffic. Grocers need to focus on creating more personalized experiences for consumers, as well as offering additional convenience. Self-service coin counters can provide more convenience because they prevent shoppers from having to make a separate trip to a financial institution. Additionally, more self-service options can create a better in-store customer experience, which will keep people returning to traditional grocery stores. Personalized customer service will be more important as well because this will be something that is not as accessible online. 

July 9, 2014