Lotteries are always looking for new ways to drive same store sales, particularly in support of innovative product launches and portfolio enhancements. Much research is put into determining how to enhance products’ visibility and evolve their retail strategies to cater to their customers’ ever-changing purchasing behaviors.
Changing consumer preferences are reshaping the retail environment, with more retailers moving to models that attempt to capture potential customers at different access points (in addition to at the counter), providing greater consistency within stores, and expanding trade styles to meet consumer demands.
To meet that demand, lotteries can challenge themselves to explore ways to expand the points of purchase for their products, such as through optimizing lottery vending networks.
To assist lotteries in maximizing these opportunities, the unique VendMix+ service from IGT’s Retail Sales and Execution Team takes a 360-degree view of retail and self-service, resulting in a complete strategy and plan for optimization, beginning with a valuation of the potential gain. To truly obtain this 360-degree view, lotteries must evaluate more than just in-store vending placement and out-of-stock percentages.
For full vending optimization, lotteries must consider the following after learning of their potential gain:
- How do we optimize our current network?
- Are machines in the right retailers?
- Are there unused machines to deploy, and where should they be placed if deployed?
- How do we keep our vending network optimized?
- Are retailers and sales staff held accountable for same-store sales performances, and can training help?
- Does the operational structure support consistent machine maintenance and monitoring?
- Are the right games consistently displayed for sale?
- How do we monitor our network to ensure long-term sustainability?
- Which KPIs should be the focus, and which group(s) is responsible for improving performance, e.g. LSRs, Corporate Account Reps, etc.?
A variety of tactics are open to lotteries looking to optimize their lottery vending solution; the best option will depend on each lottery’s unique circumstances. IGT’s Retail Sales and Execution Team can perform a thorough situation analysis to assist lotteries in answering these questions and to develop a customized plan. Contact your ADM to learn more.
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