The grocery market is facing several new trends: New and nontraditional competitors, razor-thin profit margins and disruptive events are but a few dynamics that are reshaping the grocery landscape. To satisfy customers and establish new revenue streams, grocers are seeking new ways to compete effectively in this ever-changing environment.
Many grocery chains are closely reviewing their operational costs to discover new opportunities to increase efficiencies and reduce costs. One area often overlooked is the handling of cash. Today, many grocery stores continue to use the same cash management practices that have been in place for decades. Yet, by streamlining cash handling processes and making investments in cash automation technology, grocery retailers can reap significant benefits via better usage of labor, greater transparency and visibility to their cash, and reduction in third party fees.
Tidel systems help grocery stores automate cash handling processes, while promoting an environment based on greater accuracy, accountability, and transparency. Our systems help stores make better usage of their labor, reduce third party banking and CIT fees, and minimize the float needed to run store’s day to day business.
Above all, our systems foster an environment based on greater operational efficiency and security, giving stores a better way forward to compete in today’s highly competitive marketplace.
Minimum Wage Pressures and a Tight Labor Market are Driving the Need for Automation at the Retail Level
According to a recent study by the FDIC (Federal Deposit Insurance Corporation), 7% of the US population does not have a bank account1. The same study also found that an additional 20% of Americans are “underbanked”, meaning they have a bank account, but routinely use…
Learn more about the following Tidel cash management solutions that have been deployed in the grocery industry.