Welcome back to VendingMarketWatch TV. This is part one in our series How To Maintain A Competitive Advantage: Using Promotions In Micro Markets.
Micro markets meet consumer demands for fresh food, more payment options and a better retail experience. And within the retail experience lies promotions. Promotions in micro markets are a large part of driving sales and help operators maintain a competitive advantage.
Jeff Whitacre, CEO of Food Express located in Greensboro, North Carolina and founder of USConnect believes promotions not only engage consumers, but also increase sales.
For those micro market operators who have the ability to use promotions, one of the first steps is to get connected with the provider and express interest in participating in promotions. It is recommended that operators opening their first micro market begin using promotions immediately. From there, operators need to prepare their warehouse.
Not only do operators need to be prepared to handle promotions in the backend, but they need to be prepared to handle everything that comes with promotions in the office such as changing digital signage and measuring micro market promotion success.
Dan Sheehan, vice president of Sheehan Brothers Vending located in Springfield, Ohio, suggests dedicating an already existing or newly hired employee to micro markets and micro market promotions.
Ryan McWhirter, director of product at 365 Retail Markets, agrees with Sheehan that having a dedicated micro market employee will keep promotions smooth and effective.
However, deciding when or if to add staff is up to each individual operator. The number of markets operated made a big difference for Sheehan when transitioning staff.
Next time on VendingMarketWatch TV, we will delve into the biggest challenges micro market operators face when implementing promotions.
Do you have a micro market promotion question that you’d like answered? Shoot me an email or send us a Tweet at Adrienne.Zimmer@VendingMarketWatch.com or @VendingMagazine. This is VendingMarketWatch TV, I’m Adrienne Zimmer.