Self-service coin counting machines help supermarkets provide quality service. They also function as an effective promotional tool. With a lot of surface area on these machines, there is a great potential in placing a company brand or logo on them to attract attention. Whether it's a new branding initiative, a seasonal promotion or reinforcing an in-store product line, these machines have the means to better market stores to consumers of various stripes. Grocery stores can bolster their identity to new and existing customers, enabling a greater degree of retention.
As supermarket chains like Kroger seek to draw in younger customers, especially millennials entering the workforce, they must contend with more adventurous tastes. The "foodie" movement heavily influenced this newer group of consumers, inspiring them to try out new and interesting things. Serving this growing consumer group requires sourcing new products from both local and international farms and companies. By offering and developing premium brands that emphasize unique sources, stores can easily and effectively cater to these people, ensuring long-term retention as store loyalty becomes harder to attain.
Kroger's strategy is a new premium import brand, as reported by Supermarket News. Known as HemisFares, the chain sees the brand as "a guided tour of the best tastes on Earth," according to company CEO Rodney McMullen. While details are currently minimal, there is an emphasis on getting high-quality goods from multiple locations around the world. More importantly, there is an intent to deliver products often found in ethnic restaurants at an affordable price. It brings home the unique experience of a specific location and style of cuisine without having to go out or order food for delivery.
The news came as Kroger reported growth during the fiscal second quarter of 2015. The company saw the gains as a result of more households shopping at its supermarkets over the last year. In order to retain these customers, the company will look to expand its offerings, and this is first step. Of course, with such new branding comes the effort to improve marketing efforts. Self-service coin counters display space that can emphasize the new brand while they also serve as a convenient way for visitors to turn the loose change they have stored up into cash. A supermarket can leverage this kind of in-store promotion conveniently, since the extra cash can go directly towards the new premium brand.
November 6, 2015