Brad Bachtelle of Bachtelle & Associates projected there will be 35,000 micro market locations by the year 2022. They will generate $1.6 billion in revenue over the next 10 years. But what exactly IS a micro market?
What is a Micromarket?
A micro market is more than just a bank of vending machines in your corporate break room. It is a food service experience for your employees; one that offers expanded variety and convenience in a welcoming and attractive ‘store’ environment.
When a Micro Market is Your Company’s Best Choice.
A micro market may be a good fit for your workplace if you have at least 23 linear feet to dedicate to food service equipment and the dedication to embrace something new and refreshing.
And it presents additional opportunities over traditional vending. Namely, micro markets tend to attract 18 percent more visits per day with an average of 1.2 sales per day per visit, as compared with 0.7 sales in a vending area. Furthermore, it encourages an enhanced customer experience due to the flexibility in layouts and offerings. And it ensures decreased downtime which translates to higher profits. Micro market items are often priced higher to offset product theft, spoilage and equipment in the workplace. That said, some employers offer their employees subsidies for healthy choices. Indeed, a micro market offers the opportunity for corporate oversight and health initiatives.
Keys to Making a Micro Market Work for You
But in order for a micro market to be successful, it is imperative that appropriate product choices are made. This is where it becomes critical to work with the right food service partner – one who has as a comprehensive product portfolio. One that can offer you insight based on experience with your kind of business, your kind of customer. All office micro markets are not the same. And products are just half the battle. Your partner must have an understanding of appropriate layout – one that will be most attractive to your customers, and prompt them to buy. Furthermore, they must take convenience and functionality into consideration with payment kiosks and power supply. To that end, the kiosk itself must be user-friendly and reliable; again a reason to choose someone that offers the highest quality and functionality with regard to this equipment.
Are you in Connecticut? Contact Berkshire Food to evaluate whether a micro market is the best fit for your office or workplace.