Cummins Allison Explains: Grocers Can Use Self-Service Coin Technology to Draw Consumers into the Store
By Business Wire News
By Business Wire News
MT. PROSPECT, Ill.
In a new report, RSR Research revealed that many consumers turn to mobile technology for much of their self-service needs, rather than making a trip to the grocery store. For grocers, this sets a new bar for the in-store experience needed to draw in customers and increase the frequency of return visits.
This need manifests into two key areas: differentiated self-service and differentiated employee service. RSR explains that if grocers are going to offer self-service kiosk options, they need these options to be “an experience that goes beyond what a consumer can get for themselves with their mobile phone.”¹
Cummins Allison, the leading innovator and provider of check, currency and coin handling solutions, explains why grocers must add this type of value to the in-store shopping experience and maximize customer service offerings – and why self-service coin technology is a great fit for this need.
Exemplary Customer Service Is Key
According to a recent survey, 97% of consumers say that customer service is very important or somewhat important in their choice of and loyalty to a brand. And 62% of consumers have stopped doing business with a brand or organization due to a poor customer service experience.² The customer experience must be a top priority for grocers, especially as they’re facing growing competition from online retailers.
If grocery customers come into the store for things they cannot get online, self-service coin counting can be one of them. By offering differentiated and convenient self-service options in their stores, grocers can draw in new customers with speedy, top-notch service. Additionally, customers that come into the store and find offerings like self-service coin will be impressed by the enhanced customer experience and more likely to return.
Boosting ROI with Self-Service Coin
For grocers, self-service coin can also provide an ROI boost. Coin redemption keeps cash in stores, where cash-in-hand is the top motivator for customers to convert loose change into spendable dollars. Grocers can also further tap into this by promoting store specials or high-margin items through on-screen advertising on the machine.
To fully reap the ROI benefits of this technology, grocers should select a provider that allows them to control the coin redemption fee for greater profitability. By setting your own coin redemption fees, grocers can gain a valuable source of additional revenue – and customers feel that fees are justified by the convenience and features offered.
In addition, coin management programs by the provider manages all pickup and processing of coins, monitors the machines and handles the administration – providing the grocer with a detailed report of all transactions.
To learn more about how grocery stores can boost customer service and cash in on revenue-generating opportunities with self-service coin machines, visit http://www.cumminsallison.com/go/change/.
¹Retail Systems Research. “The Future of Self-Service in Stores is Dire.” http://www.rsrresearch.com/research/the-future-of-self-service-in-stores-is-dire.
²Parature. “Read the Results: Global State of Multichannel Customer Service Report.” http://ww2.parature.com/lp/2015globalmultichannelreport_blog.html.
About Cummins Allison
Cummins Allison is the leading innovator and provider of check, currency and coin handling solutions, as well as full-function ATMs. Our world-class sales and service network includes hundreds of local representatives in more than 50 offices in North America, 6 wholly-owned subsidiaries and is represented in more than 70 countries around the world. For more information about our award-winning solutions, visit www.cumminsallison.com.