Tag Archives: #vending

Blogs We Love! …

Here’s a great blog from the Staff at Vending Market Watch back in 2016!  It may be older, but it’s still very much relevant.  Take a look … 

THE 5 MUSTS OF SELLING NEW PRODUCTS IN YOUR MICRO MARKET

The ins and outs of introducing new snacks into micro markets.

New Products

Snacking has been steadily growing over the past several years. According to new Technomic research 83 percent of consumers in 2016 snack on a daily basis, which is 7 percent higher than previous years. This is great news for micro market operators because one of the best things about micro markets is the variety of snacking options available for operators to offer consumers. Unlike vending, micro markets have few, if any snack restrictions, and can be home to products of different sizes, multiple flavors, various dayparts and top-selling brands.

One big mistake micro market operators make is not introducing new snacks frequently enough, making a market feel stale. Without new, trendy and seasonal products, consumers just won’t come to shop. Here are the top 5 tricks of the trade micro market operators use to successfully introduce new options.

#1: LISTEN TO THE CLIENT

Micro market operators have the option of offering a much larger number of stock-keeping units (SKUs) compared to vending. But of the thousands or so new products introduced each year, how does a company decide which products to offer?

First and foremost new products need to meet a consumer demand. Operators should speak with clients about their specific requests and/or general desires. For example, many locations want to go healthy, asking for no salt or low sodium snacks, gluten-free chips, high protein energy bars and other very specific products. Other locations might just ask for granola bars, without the specifics of what they define as healthy. Find out what criteria will meet the need and seek out products from there.

Second, operators should consider hosting an open house and/or tasting event at the micro market. This not only creates excitement and brings people into the micro market, it allows for immediate feedback on the new products. Consumers love having their opinion matter, so try asking them to vote on the new micro market items they like best. Work those items in during the next round of new product introductions. Ever-changing consumer snacking trends mean operators should, on a consistent basis, discuss new product introductions with clients.

#2: INTRODUCE NEW ITEMS IN A TIMELY MANNER

Once you know generally the type of items a location wants, the next question becomes, how often should you introduce new products? There is no magic number or timeframe used by every operator. Some operators attempt to receive at least two new items per week across all categories. This requires reviewing the distributor’s ordering guide continuously and strict warehouse management of all the new SKUs.

Other operators introduce one to two items per month, keeping the micro market fresh and new without there being a continuous turnover of new products. Review rebate offers and manufacturer promotions for ideas, but also make sure the items meet location requests or demographic preferences.

Designate a certain number of SKUs as NEW, and use those to track your rotation of new items or assign the management of new SKUs to a specific warehouse supervisor to ensure you can regularly and efficiently refresh the micro market product line.

#3: PROMOTE THE NEW PRODUCT

There are several ways to emphasize new products in micro markets; in a cooler or on a shelf operators can hang a brightly colored tag reading “new” or use a static cling. Using a tag or cling means the product can reside with other ‘like’ items while remaining distinguishable and drawing the consumer’s eye. New products can also be placed in a space on their own near the entrance of the micro market, letting consumers know immediately that the market has been ‘refreshed’ with new items.

Another way of promoting new products is utilizing digital advertising and displaying new items on monitors and kiosks. Since all consumers need to use the kiosk to pay, an operator can be sure the new product marketing message is being seen by market users.

Some micro market systems also allow operators to send customers direct email, which is a great way to market new products. However, don’t inundate a person’s inbox or they will block you. Also, it’s a good idea to offer promotions around new products in emails and other marketing messages, such as bundling for a discount or a buy one, get one offer. This has been shown to raise awareness and sales of new products.

#4: REVISIT PAST PRODUCTS

Just because a product didn’t sell well once, doesn’t mean it won’t sell well in the future. Reviving products back into a micro market can have a positive effect on sales. If a location begins requesting an item that was previously tried, operators should consider reintroducing the product. Management and clientele changes or the evolution of snacking trends can mean a product that did not meet consumer needs a few months ago could generate incremental sales today.

Also, look at different varieties and sizes of products that are being requested again. Perhaps the item suffered due to a lower perceived value. Talk to the location, ask for specifics about the product; brand, flavor, package size, etc. You could uncover that a larger (or smaller) bag would be more welcome, or opting for a more trendy superfood ingredient makes a difference.

#5: REVIEW THE NUMBERS

Data is king when it comes to introducing new products. In fact, data lets operators know which new products are moving and those that need to be replaced or moved. Because of the massive amount of products and ever-changing consumer snacking trends, it’s important to do at least weekly inventory management of products, regardless of how many new product introductions an operator makes. By reviewing the data, operators can make room for new products as well as removing, re-pricing or repositioning items that aren’t selling.

Repositioning items can be especially helpful for increasing the sale of new items. Try adding a display at the kiosk to increase impulse purchases of the new item, or draw attention to it. Or try reorganizing the snack display, giving the new items more prominence. Benchmark the sales data before and after the change, to ensure sales are increasing, as well as not adversely affecting sales of other items.

New snack offerings in micro markets can revitalize market sales and bring excitement; operators should be sure to place the same amount of attention on new product introduction and selection as they did to the micro market when it first opened.

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Changing your store based on holidays …

If we’ve said it once, we will say it again …

Your micro market inventory should never be static! Let’s think about the benefits of a micro market vs. a vending machine:

  • Virtually no restrictions on product size
  • No restriction on type of product
  • Increase product space
  • Easy to update, change, move, and fill products

Did you know that 70.6% of Americans hand out candy and are spending approximately $25 each to do so!

Stat via https://www.thebalance.com/halloween-spending-statistics-facts-and-trends-3305716

As a micro market operator you have a captive audience at hand, why not become a part of the estimated $9.1 billion dollars that will be spent on Halloween this year? By updating your product selection and adding seasonal items … such as Halloween Candy … you can increase your market traffic significantly!

Shoppers like to see frequent small changes to their frequented locations.  By changing up your market you can increase your client’s product knowledge and interests!

Using Three Square Market’s predictive inventory management system, you as a market owner can understand what your high, medium and low performing products are.  We encourage our operators to utilize all aspects of our system including rewards, loyalty, and coupons, predictive inventory management, mobile applications, and more!

Happy Halloween!

Pick & Ship

Another 32M exclusive feature! 

What is Pick & Ship?

Take a look at our brochure!

Pick & Ship is a unique feature of the 32M system, that you won’t find anywhere else. Using 32M’s Intelligent Inventory Management and your set route schedule, orders can be auto-generated to OUR warehouse … where your products are picked per store, boxed, and then shipped to YOUR selected location.

Saving you time and money! 

Just think … 

No Warehouse/Equipment Needs

No Employee Time Picking

No Wasted Time On-Site

Just the products you need. Delivered to your location!

Check out our video!

 

Why Use Pick & Ship?

For all the reasons listed above, with 32M’s Pick & Ship concept you can cut paid employee time, warehouse and vehicle costs.

You no longer need: 

  • Employees to pick and box store orders
  • Large warehouse spaces to store your products
  • Large vehicles for transportation of orders

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How it Works:

  1. Choose to use Pick & Ship by speaking with your sales person today

  2. Your agreement with 32M will determine your price level, etc. 

  3. We train you and do the work to set-up everything based on your par levels and route dates

  4. Receive your products at your designated location(s)

  5. Stock your shelves and enjoy the rest of your day!

 

Get started today by contacting your salesperson!

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4 Ways Bundling Will Take You From Great To The GOOAT (a.k.a. Greatest Operator Of All Time)

We see you, Operator! Look at you go all successful and on the rise, making us proud!

But as great as you’re doing, we’re going to help you get to that next level … with bundling! Let’s dig in …

What’s this “bundling” we keep talking about??

We took our top-sellers, strategically created combinations to drive sales in a variety of market spaces, and packaged, or bundled, them together! It’s our one-stop-shop method going one step further. Instead of navigating our website for the items you want, find them all in one place and purchase an entire market in one click!

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•The Mammoth Bundle•

Why Bundle?

Bundle for the 4 Bs …

1) Bundling = Benefiting

Bundling is convenient, provides economies of scale, is built for success, and is adaptable.

•Convenient• Operators have multiple needs … Bundles combine multiple solutions into one simple package.

•Economies of Scale• Save money! Bundling saves us money by reducing waste and using fewer materials for packaging. Then we pass our savings along to you by offering a super low price! Get a complete, high-value market at a significantly reduced price.

•Success• We’ve done the thinking for you … We bundled the combinations of products that will best set you up for a successful market. There are bundles made perfect for all market sizes!

•Adaptability• Looking for something in between bundles? Start with a bundle and add individual products as necessary. That way, you’re still saving time and money while also ensuring you get the perfect market for your location.

2) Bundling = Bold

Have confidence! You’re offering the very best markets to your clients – that’s what our bundles are for!

3) Bundling = Balancing

Build a thriving market in one click & still have time to build a thriving personal life. Just think – Instead of taking time to navigate through the web store and decide which combination of products is going to work, you can spend under 5 minutes choosing which complete, packaged market fits best! Use the time you save for YOU.

4) Bundling = Brilliantly unfair

Turn every potential client into a loyal client when you show them what a boss you are … because you spent your time focusing on impressing them while we took care of the market design for you! That’s an awesomely unfair advantage!

Now that you’re on the bundling bandwagon, take a look at them!

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The “Barriers” to opening a micro market …

Micro markets can be intimidating to those who have not experienced them first-hand, but we are here to calm your fears!

The number 1 reason we hear for avoiding micro markets is, you guessed it, theft. Operators rightfully worry about theft of their inventory in an open-concept market.

While it’s true you can’t eliminate theft completely, over the years we’ve developed added protections against this, and can proudly say that less than 1% of our operators experience theft issues that need to be dealt with.  AND additionally, 100% of our operators have had our assistance and full support in dealing with it!

Theft deterrents from 32M: 

  • The Red X – We originated this feature over a year ago to make it very clear when a transaction is not completed properly.
  • Time-stamped images are taken of the person at the kiosk when a product is scanned but not purchased.
    • Pair this feature with your security camera systems and inventory, you’ll easily pinpoint any issues quickly.
  • Worried about mobile purchases? We’ve got you covered! Real-time reports list transactions for your market including the platform used (kiosk or mobile).

Take a look at our video about security features!

Another barrier we hear about is cost.  VendingSolutions.com, lists the average cost of a single vending machine at $3000 (snack) to $3600 (beverage).  Guess what, at 32M that’s also the average cost of a kiosk! Bonus, you only need one kiosk per market with our patented mobile application!

Let’s average it out! 

1 snack and 1 beverage machine at a location = approximately $6600 plus the cost of all product.

A micro market set up from 32M including kiosk, shelving cooler, cooler surround and select product package  = $5195 plus the cost of the remaining products.

Benefits of a micro market with 32M:

  • Credit/Debit acceptance
  • Automatic Inventory Management Software
  • Real-Time reporting
  • Pick for your store before being on-site (pre-kitting)
  • Monitor your market from anywhere at anytime
  • Start up costs are LESS than vending
  • So much more!

Learn about pre-kitting to save time and money, in our awesome video: https://www.youtube.com/watch?v=ZpSSzf4SAXo

Save money, make money, and have happier clients! It’s really a no-brainer! 

32Market.com

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Don’t forget your phone number if you would like to receive a call!

The Age Old Question: what IS a micro market?

In researching for this blog, I’ve read a lot of opinions on what a micro market is … and reality is, they are right. A micro market IS what you need it to be.

You see, the very best part of a micro market is its flexibility. Micro markets were developed as an alternative to vending, and unlike their rigid counterpart, micro market’s are flexible, customizable, creative, changing, individual, etc.

Definition: “A micro market is a small, self-contained store in a location without an employee to monitor it. It’s comprised of freestanding storage, such as shelves, that hold a product and a checkout system available nearby. This means that there is no machine that vends the product, but the system is autonomous like a vending machine.”

Yes, it is all of that. However, this definition doesn’t really describe what a micro market truly stands for, what its purpose is?

A micro market is freedom, to choose any product that works for your set of clients in a specific location.

A micro market is beneficial,  to a business by creating an atmosphere for increased performance and productivity in their employees.

A micro market is opportunity, to employees who struggle to find appropriate options on their limited time during the work day.  Opportunity for an operator to grow their business by providing better options to their clients.

A micro market is advancement, depending on your technology an operator’s micro market system will help them advance their product selection, par levels, and maximize their profit through automation.

A micro market is innovation, sure some locations are happy with vending for now. But as workers change so will their needs and wants. The next generation grew up with and expects the latest innovations and technology.

So let’s really break it down …

For an operator, a micro market is the opportunity to: increase their revenue, utilize advanced payment and reporting technology, automate ordering and par levels, & grow their number of serviced locations. 

 

For a business, a micro market is a beautiful addition to their location that not only improves employee morale, productivity, and access to healthy foods throughout the day but is an added bonus for employees that can be used in recruiting and retaining efforts.

For a market user, a micro market is the chance to find products they actually want throughout the day without having to leave their location, and the ability to use the payment avenue that works best for them. 

 

A micro market IS … what you need it to be. 

 

Interested in micro markets? For your business? As an operator? Want to sell your boss on the idea? Fill out this form and we will get a hold of you!

 

Capitalize on Holidays!

Are you capitalizing on holiday sales??? This is the week to catch your clients with a little something extra for Mother’s Day.  This is an especially important holiday because … let’s face it men tend to more often be the last minute shopper.

DYK: one of the most popular gifts for many holidays is a gift card?

For Holiday related merchandise for your markets, we recommend non-perishable items, like gift or greeting cards. You can also think outside the box and stock things like coffee mugs, office or car accessories, smaller stuffed animals, manicure kits, etc.  Bonus! If these items don’t sell out for the holiday they can still be relevant in everyday life.

Non-food items are a great add to your market, but don’t shy away from seasonal or limited-edition products from your favorite manufacturers … if they didn’t sell, the manufacturer wouldn’t make them!

As always, if you need help or recommendations don’t hesitate to reach out!

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