Avanti Markets Inc. released its Market Activity/Billboard Display monitor at the NAMA OneShow in Las Vegas, NV. The market activity/billboard display has helped reduce theft in markets by utilizing the external monitor to display recent transactions (market activity), forcing customers to be honest with their purchases.
The billboard is positioned in the market, often above the kiosk, and shows an ongoing display of recent purchases at the market. If a customer scans their item then selects the cancel button the transaction will appear red on the screen, allowing peers to view if their co-worker has canceled a transaction. The multifunction display is divided between an ongoing feed of both canceled and purchased transactions, along with rotating commercials. This patent-pending Market Activity/Billboard Display brings an innovative solution to theft issues at the market.
Advanced Security
One of the biggest challenges with monitoring shrinkage is the availability of resources within an operator’s organization to view camera footage, run regular inventories, and handle potential theft issues with a client. Most operators don’t have the resources or time to catch that one individual who may be stealing from the market. The location decision maker (client) may also have reservations of an operator answering the “what if theft occurs” or “how can you tell me if one of my employees is stealing?” While most operators easily combat these questions, the market activity display provides another tool to the selling process in addressing these concerns with an additional security measure beyond just cameras.
Reduce shrinkage and increase sales
The market activity display portion has become a proven tool to drive instant results of reduced market shrinkage and increase sales within markets. Over the last three-months we have partnered with our sister company Avanti Markets Northwest (NW) to conduct a study aimed at measuring the effectiveness of the market activity display in markets that are experiencing higher than average shrinkage levels.
Ray Grimm, retired King County Police Officer, was brought on board the Avanti Markets NW team to oversee loss prevention within their organization. Jim Brinton, CEO of Avanti Markets, said in a prepared statement: “We believe in the future, as we build out our security team at Avanti Markets NW, Ray will be called upon to help other Operators across the nation with enhancing their security procedures and goals for vending, food service, and micro markets.” The study provided results that indicated there was a drastic change in not only reduced shrinkage levels, but also displayed a significant lift in sales after the market activity display was in place.
49 market activity/billboard displays installed and counting
Avanti Markets NW has approximately 49 market activity/billboard displays installed throughout all of its branches including Seattle and Tumwater, WA, and Portland, OR. Several locations were examined in this study, each with similar demographics.
- Location A is classified as a blue-collar location and was struggling heavily with low sales and shrinkage. Located near Bellevue, WA it has 408 market users.
- Location B is located in Seattle, WA with 378 market users and is another blue-collar location that was having repeated concerns with sales and shrinkage.
- Location C located in Auburn, WA was the largest location analyzed with a blue collar demographic and 1,436 market users; this was the most improved market during this investigation.
Study reveals sales lifts that sustain into additional months
The study revealed that each of these locations had an increase in sales and a decrease in shrinkage.
- Location A had an investigation at the beginning of April 2015, which reflected that the shrinkage was down 6.65% and sales are currently up 5.6%. These numbers reflect one month of having the market activity display installed.
- Over the same time period Location B revealed a decrease in shrinkage by 4.28% and an incredible increase in sales of 54.97%.
- Location C shrinkage overall has decreased since March 2015 by 16.72% with sales increasing in April 2015 by 7.3% and remained about the same for May 2015.
Right now, Loss Prevention is closely monitoring the other locations, which are also seeing similar improvements on both shrinkage and sales lift. Since the displays have been installed there has not been a single market with theft increase, each market shows significant results after just 30 days.
100% of markets with market activity/billboard displays by end of 2015
Market activity/billboard displays are adding another layer of loss prevention to the market for operators. It not only helps to keep shrinkage levels down at market locations, but also allows operators to use the other portion of the screen to display commercials.
This individual study has encouraged Avanti Markets NW to examine all markets and determine where additional market activity/billboard displays can be placed next. Their goal is to have 100% of their markets with these displays by the end of 2015. Jim Brinton, CEO of Avanti Markets, said in a prepared statement: “As an Operator I’m continuously looking for ways to prevent shrinkage and improve profit in the market. I believe that this patent-pending Market Activity/Billboard Display will have a positive long-term effect on the growth of my business.” With 450+ markets in the field for Avanti Markets NW it is much easier to put in measures of prevention like the market activity/billboard display than to deal with shrinkage after it has occurred in the location.
Founded in 2009, Avanti Markets is the leader in the Micro Market industry. Avanti’s platform provides operators with a leading-edge micro market transaction system that leverages real time data to help support operational efficiencies. Avanti’s back end software integrates promotions and inventory management tools to control the flow of goods, pre-kitting systems that will drive operational efficiencies for route drivers, and data warehousing infrastructure to help operators understand their micro market business. The Avanti advantage creates a micro market experience that let’s the consumers determine how they interact and the operator increase revenues through every transaction. Visit Avanti Markets on Facebook, Twitter, LinkedIn or www.AvantiMarkets.com.
