Let’s think about what brings your customers to your micro market! Often thinking about your market experience from your customers’ perspective can be your best spent time.
Why do customers use a micro market?
- Items not found in vending machines. (variety)
- Fresh, healthy options that you don’t have to leave your workplace for. (convenience)
- Access to hot food versus cold food. (quality)
- Rewards and coupons. (bonus features)
- It’s a nicer environment, more attractive look and experience. (aesthetics)
Knowing that Variety, Convenience, Quality, Bonuses, and Aesthetics are factors that your customers are looking for … how does your market measure up?
How can you update your market in these important areas?:
Variety:
Are you reviewing your product selection? Looking at products that are moving or not moving? Are you replacing products that have worn out their welcome?
Using Three Square Market’s exclusive intelligent inventory system you can easily see what products are popular, mediocre, and past their prime for each individual store. This allows you to easily customize your product selection in each individual market to maximize your sales per market without the need for a lot of extra work. Here’s where you can learn more!
Convenience:
Beyond having the products your customers what and need for a quick and convenient lunch … Do you have ALL the products that make your customers’ lives easier? Have you thought about the items that might save someone a trip to the store?
In today’s society time is money and saving someone time is worth a little extra spending cash. Think about electronics or health and beauty items a person may need throughout the day, or take home meals for the family that eliminate that stop at the grocery store. Maximize the ways that your market creates convenience for your customers and gain their loyalty in return!
Quality:
Micro market products are often priced higher than traditional vending products. Typically approximately 15 to 20 percent higher to cover the cost of credit card processing, sales tax, and product loss. Millennials make up the majority of the workforce these days and according to Nestle, “[Millennials] are the first generation now who are willing consciously to spend more for better quality [products], for sustainability, for traceability.”
If the average fast-food lunch for an employee is $6 you can assume that your customers are willing to spend up to $6 on quality lunch items in your market if it meets the convenience, variety, and appeal of a fast-food.
Bonuses:
Every retailer out there is using coupons, rewards, loyalty, bundled options to increase transaction values. Consumers love opportunities to save and increase the value of their purchase! The key is to look at perceived value and create specials and deals that make sense for your consumer. Salad or sandwich purchase gives you a discount on your beverage purchase … where is the downfall?!
Using coupons, rewards, bundles to increase your average transaction value is a great way to 1) increase revenue and 2) decrease the chance of product spoilage.
Aesthetics:
According to an article in the Milwaukee Journal Sentinel, “Consumers rate [micro markets] off the charts in nearly every category. Employees love it because it’s just a nicer environment. It’s like going to a bistro or a restaurant.”
The aesthetics of your market is an important factor. Employees are looking for something special that gives them the feel of leaving the office without actually having to do so. Investing in the space beyond just your products and checkout is important.
Making the space comfortable, attractive, and inviting can only add to a quick return on your investment. You can even work with the company to pay for these upgrades or split the costs – touting the perks to a company with a micro market with happier, healthier, more productive employees. Bottom line is investing in your market can only make your market more attractive to your customers yielding increased sales and profit for you.
For starters, you can go to 32MarketStore.com to see how you can show off your products in the most attractive way possible with 32Fixtures!
Three Square Market 