Micro-Markets are unattended stores where customers can pick out products and then pay at self-checkout kiosks. They combine the convenience of vending machines with the customer experience of a storefront.
With the combination of supply chain disruptions and rising costs, brands and manufacturers are looking for ways to save money. Automated solutions like Micro-Markets reduce labour costs with self-service technology.
And because Micro-Markets don’t require an attendant, they can run 24/7.
Micro-Markets were trending upward since before the pandemic, growing by almost 40 per cent from 2018 to 2020. While the pandemic impacted foodservices across the board, Micro-Markets suffered the lowest percentage loss among vending solutions in 2020. In fact, more than 20 per cent of Micro-Market operators reported growth during COVID-19.
Going forward, they are expected to grow faster than any other convenience service through 2027 with an annual growth rate of 1.3 per cent.
Micro-Markets Customer Experience
Micro-Markets are one of the hottest trends in foodservice because of their customer experience.
Often, automated retail options are limited to salty, deep-fried snacks, soda, and candy. Micro-Markets use temperature-controlled open shelves to offer fresh, healthier options. Customers can have access to hot and cold beverages, salads, wraps, impulse items, and more.
And with products displayed on open shelves instead of sealed behind glass, customers can interact with the products.
The self-checkout systems are often cashless, accepting debit, credit, and prepaid cards and mobile wallets. These contactless payment methods reduce hassle, eliminating the long queues seen at many stores.
Micro-Markets are usually stationed in closed environments like office complexes, apartment buildings, universities, or hotel lobbies.
Micro-Markets can stock anywhere from 150 to 400 products depending on size. Beverages, meals, and snacks are the largest revenue generators. However, customers also buy non-food items at Micro-Markets like electronics, toiletries, Aspirin, and more.
Merchandising will be crucial for brands looking to take advantage of Micro-Markets. You will need to ensure your products are regularly stocked. You will also need to keep an eye on other traditional merchandising KPIs like share of shelf, price tag compliance, on-shelf availability, etc.
Marketsupport Knows Micro-Markets
Put your Micro-Markets on cruise control with our automated retail solutions. We’ll manage your inventory and merchandising. We can even educate customers on how to use Micro-Markets. Wherever you need qualified professionals, Marketsupport is there.
To learn more, call 1-905-847-6513 or visit our new website.
« Back to Blog