With self-service coin counters, grocery stores can develop a standard of quality service. When new stores open, grocers must establish that they view customer satisfaction as a top priority. That way, when the sparkle of a grand opening fades, consumers will still come back because they're actually interested in what's available at the shop. This is particularly important when entering a new regional market. Getting the first impression right, especially when there are different demographics to face when entering an unfamiliar city or region, becomes extremely important. Giving them an incentive by offering the ability to turn loose change into cash is one way of doing so.
Wegmans Food Markets, a well-known brand based in the mid-Atlantic and New England regions, has surprisingly shied away from larger cities such as New York or Philadelphia. The primary reason is that real estate is expensive, making start-up costs for grocery stores particularly high. But more importantly, the customer base in these places tends to trend differently from the standard Wegmans shopper.
That policy is set to change in just a few years. According to Supermarket News, Wegmans has been selected to anchor a new development in the Brooklyn Navy Yard. The complex, will feature a construction site for a 74,000 square-foot supermarket. Several buildings that are located on the job site in what used to be the so-called Admirals' Row will be torn down to make the development feasible. Construction is set to begin this year, with an opening date of 2018.
The new development is crucial because it provides a new supermarket for several key Brooklyn neighborhoods such as Fort Greene, Clinton Hill and Williamsburg. Wegmans was selected over other contenders by virtue of the fact that it would provide more jobs. Still, grocery stores such as Wegmans should look to engage with their new audiences in various ways so that they aren't outclassed by other stores of similar or smaller size. For many city residents, convenience is important, which is why having self-service coin counters will help grocers do well in these new environments. Many apartment dwellers and condo owners are always looking for ways to make the most of what they have, and turning loose coins into cash they can use for groceries or other items is a great way of maximizing their money.
June 5, 2015