In order for grocery stores to stand out while they grow, companies must use self-service coin counters as part of their expansion plans. Grocery stores and retailers are looking for ways to expand their markets beyond big-box locations to further entice new shoppers. Take for example Walmart Neighborhood Market and Whole Foods 365. According to Chain Store Age, Whole foods 365 acts similarly to an Aldi in format, focusing on value, ethics and fresh products while delivering the right price. Walmart Neighborhood Market is also set for expansion, opening between 160 and 170 locations across the United States throughout 2015 and 2016, according to Chain Store Age. The concept takes the grocery department out of Walmart's big box stores and places it into an urban setting and small-store format similar to Trader Joe's.
As consumer desires change, so do a store's need for differentiation. Self-service coin counters can help grocers both small and large benefit from new streams of revenue and set them apart from competitors.
As stores like Walmart Neighborhood Market continue to expand, stores must prioritize convenience as a factor that will set them apart from competitors. Shoppers today enjoy technologies previously unavailable in other stores. For example, IBM is investing more in self-checkout technologies today, according to The Street. Consumers are growing more receptive to technology in stores such as checkout and order-ahead screens.
Self-service coin counters don't just provide an added technology for consumers; they do so for grocery store owners as well. Coin counters have the ability to generate more revenue with a small resource blueprint. When customers can turn their change into cash, they're more likely to use that cash in the store. Self-service technology also saves store associates valuable time to focus on other tasks such as helping consumers find items.
While glittering technology is always an advantage for grocers, comfort and convenience should always be a store's top priority for consumers. Every feature a grocery store offers acts as a differentiator from the competition. Whether it's a digital drink menu at the Whole Foods in-store bar or an interactive screen at Walmart Neighborhood Market, stores must invest in the convenience of their consumers to generate higher profits. In the case of Walmart Neighborhood Market and Whole Foods 365, adding self-service coin counters to stores may prove a successful tactic to help grow revenues.
May 18, 2016