You’ve met nanomarket Suzie, attended our Small Markets NAMA webinar, learned how to bring in the BIG nanomarket dollars and found out what location is right for tablet-based technology and more. By now, you know that the 365 nanomarket™– connecting smaller locations of 150 employees or less to products at work— has taken the industry by storm with it’s sleek, modern design and cashless payment functionality.
Want to provide a variety of fresh and healthy snacks by bringing MicroMarket-quality service to your smaller locations? The nanomarket may be little, but it brings BIG results! Check out our exclusive interview with Darrin Duecker from Sunrise Vending to learn how they’ve had nanomarket success:
1. Tell us about your smaller locations (150 employees or less) prior to implementing a nanomarket™. What were some specific needs, issues or challenges that they were facing?
In most of these locations, we had two to three separate locations where vending machines were. Customers of this size tend to have limited space and the vending machines only compound that problem. We found that the market concept frees up most of that space. Once seeing the concept, the customers tend to find a central place for us to put the market because we are able to offer them something new.
The customers appreciate the fact that we can now offer them items they were asking for that didn’t work with traditional vending. Vending machines are limited in the size of items for purchase due to the space restrictions of the machines; the market concept isn’t. With customers of this size, we want to stock what they want, thus we ask for input on items they want to see. These customers are more engaged and become more of a partner.
With some of our customer of this size, they were due for equipment upgrades. The market allowed us to upgrade their services for a price that is comparable, if not cheaper, than replacing the machines with new machines. The sales volume increase we experience from installing the
markets are worth the investment in the market as opposed to vending equipment.
2. Why did you choose the nanomarket to help your smaller locations with their challenges?
The cost of the nanomarket was a major reason for doing so. We can replace traditional vending with the nanomarket and the overall investment into an account is usually cheaper than adding vending equipment. The return on the investment makes the decision to switch to the nanomarket a no-brainer.
The space required for a drink machine and a snack machine can be converted to a nanomarket space. The size footprint isn’t that much bigger, thus allowing us to increase sales, have a more presentable product, and build customer engagement.
3. What types of industry locations have seen the best results from implementing a nanomarket?
We have experienced growth in every location we have installed the nanomarkets.
Our biggest gains are at customers with younger consumers. We have call centers and trade schools that are really good locations. The fact that there is no longer a cash option to purchase items hasn’t hurt our business at all.
4. Tell us about the sales opportunities and/or revenue increases that the nanomarket has provided you.
We have experienced increases from 30 to 200%. The fact we can offer different items with higher price points is what helps drives sales. Customers of this size have just enough people to start offering some food items if they aren’t already being offered in a food vending machines. Having the market with a dedicated food cooler makes a great addition that normally wouldn’t be there with traditional vending. When you start offering food items into places that never had them before, you really see big gains. Consumers are willing to pay higher prices for items that aren’t traditional vending items.
We are able to put new items in the market on a regular basis because space allows us to. All new items present a revenue opportunity without losing space for other items. In a vending machine, you have to remove something in order to put something new in. That isn’t the case with a market.
5. Would you recommend the nanomarket to other operators? If so, why?
The sales opportunities that nanomarkets offer versus traditional vending made the decision to switch very easy for us. The products you can offer are limitless. If an item has a barcode, you can sell it. If you want to replace equipment at a good customer and upgrade their services at the same time, then add a nanomarket. The cost is similar and probably cheaper than purchasing new vending machines.