Should the US change metal coins?

According to a report this week from watchdogs at the Government Accountability Office, since 2006 the prices of metals used in coins have risen so much that the total production unit costs of the penny and nickel exceed their face value resulting in financial losses to the U.S. Mint. In fact such a change could potentially save between $8 million and $39 million per year by changing the metal composition of the nickel, dime, and quarter.

Source: www.networkworld.com

There are other issues in making such coin changes. The GAO said that associations representing selected industries that use coin acceptance machines estimated a cost impact ranging from $2.4 billion to $10 billion to modify an estimated 22-million coin machines, such as vending machines, to accommodate steel-based coins. According to these associations, these costs would be incurred because coin machines would require modifications to accept new coins while continuing to accept current coins.

The GAO also noted these estimates may be overstated for several reasons. For example, the vending industry assumed 7-million vending machines would require modification, but a 2015 industry study estimated that there are 4.5-million vending machines in the United States. Second, the cost estimates assumed steel changes to all coins, but the U.S. Mint has determined it is not viable to change the quarter. Therefore, machines that only accept quarters (such as coin laundry machines) would not require modification. However, any change in coin composition that requires changes to coin acceptance machines will result in some industry costs.

Can the American department store be saved? 10 retail experts weigh in

Retail industry news, voices and jobs. Optimized for your mobile phone.

Source: www.retaildive.com

In an effort to revitalize their stores and appeal to younger consumers who are spending more on experiences over hard goods, U.S. department stores are investing millions of dollars into luxe renovations and souped-up in-store experiences.

Macy’s just unveiled a millennials-focused basement, filled with selfie stations and popular teenage apparel brands, while Bergdorf Goodman recently opened a swanky revamp of its jewelry floor. A recent article in Business of Fashion summarized some of the motivation behind these moves: It’s a plan to “bring back the magic to businesses built on nostalgia.”

The question is, will these makeovers be enough?

RetailWire, an online retail discussion forum, asked its BrainTrust panel of retail experts the following questions:

  • How important a role should nostalgia play in reviving the department store format?
  • Is there a department store operator inside or outside the U.S. that you think has the best handle on what it will take to succeed in both the present and the future?

Here are 10 of the best comments from that discussion. Comments have been edited by Retail Dive for content and length.

Zipdrug, CityMD team on Rx delivery kiosks

Patients at CityMD urgent care locations will be able to use new Zipdrug kiosks to order delivery of their prescription.

Source: www.drugstorenews.com

With the new kiosks, patients at CityMD’s locations — beginning with the one in Manhattan’s Murray Hill — will be able to order medication delivery from any pharmacy after seeing a doctor. The medication will be picked up by a Zipdrug messenger and delivered to the patient’s preferred location. Patients can also track their delivery live in the Zipdrug app. 
 
“We are thrilled about this partnership and having the chance to work with the region’s biggest and most successful urgent care group,” Zipdrug CEO and co-founder Stu Libby — who Drug Store News interviewed in 2015 — said. “CityMD’s mission to deliver kindness in the form of a seamless healthcare experience mirrors ours at Zipdrug — we’re a great fit. Zipdrug’s service will help CityMD patients get the most out of each urgent care visit, enabling them to get back to their busy lives without having to make the potentially long stop at the pharmacy.”
 
For CityMD, the partnership is a way for them to further its mission of offering convenient care for patients. 
 
“By teaming up with Zipdrug we can now deliver even more convenient, quality care,” CityMD founder and CEO Dr. Richard Park said. “Zipdrug allows patients to spend more time in the comfort of their homes while they are sick instead of at the pharmacy. We are always looking for innovations that enable us to treat our patients better.”

AVT Goes After Crane Vending Merchant Six

LOS ANGELES, Jan. 5, 2016 /PRNewswire/ — AVT Provides Head-to-Head Comparison of the MultiShopper to the Crane Vending Merchant Six. Technology and…

Source: www.prnewswire.com

AVT PR listing out difference in vending machine automation with Crane.  Worth taking a look at the two companies as well.  AVT has struggled of late.

Retail Kiosk

Retail kiosks such as Sephora, AT&T, Sprint, Marks & Spencer, Macy’s and more. Retail kiosks strengthen customer relationship and get new customers.

Source: kioskindustry.org

Updated retail kiosk section of kioskindustry.org