Customer experience is key to business success, and self-service coin counters can help grocery stores enhance their offerings for consumers.
A study from Watermark Consulting found that companies that made customer experience a priority generated returns 26 points higher on average than the S&P 500 when compared to the broader market from 2007 to 2013.
"What really stood out in this year's study was the performance of the Customer Experience Laggard portfolio," said Founder of Watermark Consulting Jon Picoult. "It posted a negative return during a period when the broader market rose sharply - a sober reminder of the cost of customer dissatisfaction."
Many factors can negatively impact customer experience. Difficult-to-use products, confusing instructions, poor customer service - all this and more can turn off consumers and send them to the competition. One thing customers particularly detest is long wait times.
Going to the bank and waiting to exchange coins for cash can be a time-consuming experience, which is why grocery stores can capitalize with self-service coin counters. These devices can not only increase foot traffic at grocery stores, they also put money in the hands of consumers on the spot, increasing the odds that they will spend it within the store.
Additionally, data from analyst firm Coleman Parkes and Cisco show that consumers are increasingly seeking out self-service options, from online support to in-store purchases. Self-service coin counters can appeal to this growing trend.
Finding the right device
Cummins Allison's self-service coin counters feature enhanced coin discrimination, which translates to more accurate coin counts. This device also has quieter coin operation, which means less noise and distraction for workers and shoppers alike.
With a number of procurement options, including buy, lease and rent, grocery stores have a wealth of choices when it comes to boosting customer experience through self-service coin counters.
September 26, 2014