Self-service coin counters can serve quite a few purposes for grocery stores and supermarkets. They have the ability to offer a timely and effective service to their customers, especially those with a lot of loose change. On a greater level, these machines help create the vision of the store as a memorable shopping experience. The counters also present marketing opportunities that help spread the store brand in subtle, yet effective, ways.
Marketing for shoppers has been on the mind of many grocers in recent years. Personalization has played a great role in this trend. With many consumers looking to be treated on an individual level and not just as a statistic, businesses are using targeted advertising and other strategies to cater to more specific needs. More importantly, there is a greater interest in turning trips to the store into an experience, due to a decline in differentiation between stores in terms of product selection and price.
The amount of money spent on marketing to shoppers directly has increased significantly as a result. Supermarket News cited a survey by Cadent Consulting Group that showed shopper marketing spending increasing from 6 to 13.5 percent of total grocery marketing budgets in just two years. That translates to an additional $17 billion. The effectiveness has been strong in that respect. However, the creators of the study note that the outlays toward that form of marketing have likely hit the ceiling, for spending anymore would yield severely diminished returns.
At this point, the money should now be spent in a way that helps increase revenue from individual customers. The Cadent study noted that focusing on pain or influence points where a consumer is most likely to make a decision that affects his or her purchase is critical. Placement of self-service coin counters can play a role in this matter. Instead of limiting the machines to areas such as the front entrance or customer service areas, they could be moved to a section that takes coinage into consideration. In this way, their branding and placement may push customers to look at the section to see if they need something. That can increase sales overall, giving the counters an additional purpose.
May 26, 2015