As of 2016, millennials have the most purchasing power in the market. As such, they need coin counting machines as part of their grocery routine. These young adults, born between 1980 and 1995, had a total global spending power of $2.45 trillion just in 2015, according to CNBC. With so much purchasing prowess, millennials are shaping the way grocery stores market themselves. With their vastly different lifestyles and needs for more customer service, grocery stores must appeal to Generation Y shoppers with unique resources such as self-service coin counters.
Contrary to popular belief, not all millennials are addicted to delivery pizza and takeout food. According to Fusion, 54 percent of millennials said they would rather cook a meal at home than go out to dinner or order delivery. Millennials also have different eating habits than previous generations, focusing on healthy ingredients and natural products in quick and efficient combinations. This means grocers must cater to millennial needs by providing grocery spaces with effective layouts and traffic to appeal to millennial buyers.
One of the easiest ways grocers can appeal to millennials is by providing coin counters close to display areas for unique purchase buys. Millennials are more likely to be adventurous with their impulse buys such as drinks or snacks. A self-service coin counter can be used for millennials in a quick pinch for spending money. This, in turn, creates higher revenue for the grocery store and a reason for millennials to come back.
Self-service coin counters win millennial shoppers over in a multitude of ways. For example, they create the opportunity for millennials to walk around the store in a unique pattern and revenues for typically underperforming areas.
A grocery store can place a coin counter close to an impulse buy section to create a reason for consumers to count their cash. They can also be placed next to stationary or small gift sections as a way to enable purchasing small gifts for family or loved ones on the fly. Product and holiday tie-ins are possible if the machine is placed correctly in the store. With proper product placement and a keen leaning for millennial shopping habits, grocery stores will succeed with the purchase of a coin counting machine.
June 17, 2016