Driving Incremental Sales With ATM Availability
STATE COLLEGE, Pa. — With today's consumers expecting more from their retail experiences, convenience store retailers can stay competitive by becoming a one-stop shop that offers convenience and caters to the needs of their shoppers.
One area in particular that can help attract more customers is offering financial services such as ATMs. In fact, ATM usage in c-stores has been on the rise, with the services' revenue increasing by 10.6% last year, according to a recent VideoMining Nugget entitled "The One Stop Shop? ATM Users in C-Stores Examined."
[Read more: Identifying Three Types of Fuel Customers]
VideoMining's Channel Shopper Insights Program examined how ATM users interact with the rest of the store. Key findings include:
- More than half (54%) of all ATM users bought at least one product during their visit;
- Of ATM users who made an in-store purchase, 85% visited the ATM prior to making a purchase; and
- The top three categories of ATM user purchases were fuel, cigarettes and coffee/hot beverages.
Generating incremental in-store purchases from ATM users requires the right techniques to stop customers in their tracks and encourage a secondary impulse buy.
VideoMining offers three key recommendations:
- Nearly half (46%) of shoppers enter the store, use the ATM and leave without making a purchase. To encourage secondary purchases, operators can examine their traffic heatmaps to identify the route taken by ATM-only users and implement engaging strategies to disrupt and motivate them to make an in-store purchase.
- Analyzing the product categories purchased by ATM users can help operators design compelling campaigns to encourage additional in-store purchases. For instance, if coffee and hot beverages are the most popular consumables, operators can consider placing signage and promotions near the ATM to encourage hot beverage purchases.
- These findings underline the importance of analyzing behavioral data to better understand shoppers and tailor campaigns to meet their needs. By doing so, operators can add value to the shopper's experience, increase productivity and build stronger shopper empathy.
State College-based VideoMining provides comprehensive behavioral insights around in-store shopper experience for retail and consumer packaged goods companies.