Customer-centricity is such a buzzword in the loyalty marketing world. And, apparently, customer-centricity has caught on in a big way in Canada as it breeds brand loyalty.
According to a recent study by Nielsen, Canadian grocers heavily favor a customer-centric business strategy, citing “keeping current customers” and “reaching new customers” as two of their top three areas of focus. To ensure that this strategy is as effective as possible, grocers must concentrate on maximizing customer service offerings and adding value to the in-store shopping experience.
According to the study, a staggering 81% of grocers say that their focus on “providing better customer service” is one of the key differentiators for their business. Savvy grocers are bolstering the customer service experience by leveraging front-of-store services and opportunities. What’s more, the study reveals that grocery stores have two distinct advantages over other self-service coin redemption sites: Longer store hours and more frequent store visits.
Furthermore, 66% of grocers surveyed cited “investing in improving customer service” as a top way of improving customer loyalty, and 59% cited “expanded product offering or services” as another key strategy.
By offering the convenience of self-service coin counters in their stores, grocers can serve customers better through speed and convenience, drawing in new customers and increasing the frequency of return visits. Coin redemption also keeps cash in stores, and customers appreciate the convenience of redeeming coin and shopping in one trip.
In addition to retaining and attracting customers, 24% of grocers cited “the rising cost of doing business” as a major challenge. To combat rising costs, grocers should consider selecting a self-service coin machine that allows them to control the coin redemption fee for greater profitability, the study notes. By setting their 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.
What’s more, self-service coin machines put disposable income in customers’ hands immediately, and 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.