Automated coin counting machines help grocers build customer satisfaction; increase footfall; and open new revenue opportunities.
Grocery stores preparing for the cashless society might be missing out by not helping customers make the most of their loose coins. With almost 29 billion coins in circulation in the UK, supermarkets need to encourage consumers to bring loose coin in-store; whether to spend, pay in or exchange. For instance, grocers can use automated coin counting machines to help customers change their coins into easier-to-spend and carry notes, with the additional benefits of encouraging customers to shop in-store, providing additional revenue streams.
For grocers, the attraction of automated coin counting machines should be clear: it’s much easier for consumers to shop if they are carrying pounds rather than pennies.
Grocery stores who offer the option to change coins into cash will see benefits including more customers, who will be able to spend their newlychanged cash in-store; increased revenue from the machines themselves; improved customer services for shoppers who want to dispose of cumbersome change; and a better way to recognise and remove fake coins from circulation, rather than relying on shoppers and staff to spot tell-tale differences.
To maximise the usage of coin machines, organisations need to consider exactly how and where they place them.
Location is key to ensure customers can easily use machines without inconveniencing themselves or others. The performance of machines is also key, consider counting and sorting speeds when evaluating machine options. Organisations that can address these issues will be in a much stronger position to increase footfall and revenues.
Case in point, Tesco, the UK’s leading retailer employs automated coin counting machines allowing them to save space and boosts revenues. Tesco installed selfservice coin counters as an “extra service” for customers in its larger stores many years ago. Tesco soon found that the coin machines were not only popular among customers but also produced valuable revenue for the stores.
As the company built smaller format stores, the size of the coin machines became an obstacle in their quest to serve customers. “Of our 3,000 stores, nearly 200 are Tesco Metro outlets,” pronounced Stephen Law, Assets and Estate Buying Manager at Tesco. “We wanted to bring coin-counting services to those stores as well,” he added, “but because of space limitations, many of our stores simply didn’t have enough room to accommodate the machine’s footprint. And that presented a problem,” concludes Law. Cummins Allison’s Money Machine® coin counters were an ideal solution, enabling greater revenue per square meter. With a total footprint of only .49 square metres, the Cummins Allison machines were one-third of the size of the coin counters used in Tesco’s larger stores – and could easily fit into Tesco’s smaller stores.
The coin counters are small enough to fit easily on the “fourth wall” in Tesco smaller stores – the space between the checkout stands and the front door – without crowding customers. Plus their small size allowed Tesco to increase the number of other revenueproducing services offered, such as photo booths, ATMs or postal services.
When asked to describe the relationship between Tesco and Cummins Allison, Law concludes: “When we think of Tesco, we don’t just think of 3,000 stores, we think about serving our customers in all of our locations – large and small alike. We initially selected Cummins Allison because of their coin counter’s small foot-print and their ability to fit into our smaller format stores. What we discovered, however, was not just a great supplier, but also a true partner. A forwardthinking industry leader who is truly invested in Tesco success,” finishes Law.
To learn more about how the Money Machine 2 can build traffic, enhance customer service and improve productivity, visit www.cumminsallison.co.uk/ go-uk/grocery or call us on 0800 0186484.
Tel: 0800 0186484