13 JUN 3 TOOLS THAT WILL MAXIMIZE SALES

WITH YOUR MICRO MARKET KIOSK

Posted at 15:58h in Business Management by Chris Blomquist
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Micro markets are becoming a bigger part of the vending industry. As we examined in
our micro market infographic, micro markets reached over 10% of all vending
sales revenue in 2015. The shifting American diet toward healthier snacks,
corporate insistence on employee-wellness programs, and the explosion of
inexpensive self-checkout technology have all combined to make micro markets a
profitable concept.
It’s easy to see why micro markets are popular. In a location with 125 employees, an
operator can average around $1000 per week – an increase of 80% over their vending
machine counterparts. However, for extremely successful operators, weekly sales can
be much higher. For example, one operator who replaced two vending machines with
a Parlevel micro market experienced an increase in sales of over 800% –
averaging $5100 a month from his market. So how did this particular operator
achieve micro market sales above the average of his peers? He took advantage of tools
unique to his Parlevel micro market kiosk – and achieved huge sales as a result.
Here are three tools that will maximize sales in your micro market:

1. Product Merchandising
Recommendations

Selling product out of a micro

market is a completely different game than selling out of a vending machine.
Customers expect fresh food. Chips and candy might still sell well, but customers
expect diversity from a micro market – necessitating the need for products like
sandwiches or yogurt. While fresh food will help satisfy your customer, you’ll have to
deal with shorter shelf life and the potential for increased spoilage. Operators need to
keep an eye of the sales of their fresh food to cut down on lost money from expired
food. Luckily, with a powerful micro market kiosk management system like Parlevel’s,
you can track product spoilage quickly and easily. From your mobile phone, tablet, or
computer, you can keep tabs on how quickly products sell in your market. With this
information, you can stock the right amount of each product inside your market –
cutting down on costly spoilage.

Also, the amount of UPCs in a micro market are signficantly greater than in a vending
machine; instead of stocking tens of products, you’re stocking hundreds. While you
might have a good idea of how products in your machines are selling, it is much more
difficult in a market. Plus, each market location has totally different taste preferences
– a blue collar factory will enjoy different items than a white collar breakroom. It is an
absolute must to have a system that tracks product sales in a market. With a micro
market kiosk like the one from Parlevel, you can easily track product sales in each
market across your operation. At a glance, you can see what sells well and what
doesn’t, and you can replace slow-sellers with better-selling items. The system will
even make recommendations on what products to stock based on their success in
other markets. Pretty cool, huh? With tools like these, an operator can cut down on
product spoilage costs and increase micro market sales by more than 15%.
2. Theft Prevention Tools
When diving into micro markets, there is one chief concern many operators face: theft.
Unlike vending machines, the product stocked in micro markets isn’t locked up. There
are no physical barriers between the items and the shopper. However, theft in micro
markets isn’t as big an issue as many might think – the majority of operators
reported theft in micro markets as less than 3%.
However, operators need to take steps to ensure theft in their micro market is kept to
a minimum. These two tools in particular help increase the security of a micro market:
NEST DROPCAM
Nest dropcams do a fantastic job of monitoring a micro market. Small, discreet, and
capable of HD recording, this webcam will capture what is going on with your market
at all times. Furthermore, you can mark a specific location in the camera’s view – like
your micro market kiosk – and the camera will alert you if someone steps into that
marked location. With easy access to this footage on mobile or desktop, monitoring
your micro market is a snap.
KIOSK-MOUNTED WEBCAM

While a Nest camera is great for monitoring your

micro market setup from end to end, it might struggle to capture a potential thief’s
face in detail. So, it is important that your micro market kiosk has a front-facing
camera built into it that will capture customer’s faces in detail. An effective kiosk like
the one from Parlevel will capture screenshots of a customer every time they touch
the screen. That way if they fake a transaction at a kiosk, you’ll be alerted to it. These
tools will help deter theft, and encourage customers to pay for items honestly –
increasing sales in the process.

3. Promotional Sales
Promotions do a fantastic job of increasing sales in almost every industry. In a study of
convenience stores in the US, products with sales promotions experienced a 14%
sales bump over products with standard pricing. The effectiveness of sales
promotions also rings true with micro markets. For example, Parlevel micro market
operators who use wallet refill promotions average over $3,500 per kiosk per
month in wallet recharges and cashless sales. 95% of the money loaded in these
wallets actually gets sold, which means operators benefit from a 5% boost in sales
without incurring any costs of selling the product.
WALLET REFILL INCENTIVES
 A refillable wallet on a micro market kiosk means a
customer creates a profile and then fills up that profile with funds, which can be used
to pay for products at the market. Having a re-loadable wallet on a micro market is a
huge benefit to both operators and customers. For the customer, it speeds up their
checkout. For operators, they get money up-front and benefit from lower transaction
costs. With a market like Parlevel’s you can incentivize operators to use a wallet by
offering 10% bonuses for wallet recharges. For example, load your wallet with $10
and get an extra $1 free! The money an operator will make from increased wallet
usage will more than make up for the dollar spent.
The massive popularity of micro markets shows that they can be real money-makers
for vending operators. In order to maximize micro market profitability and speed up
ROI, operators need to go the extra mile. With the right kiosk and the right tools like
product merchandising, theft prevention technology, and promotions, operators can
boost their micro market sales and enjoy profits much higher than their counterparts.
TAGS:
bogo, micro market, micro market kiosk, micro market sales
promotion, micro market security, Micro Markets, nest, Product
Merchandising, theft prevention, wallet, webcam