august2024 - 26

TECHNOLOGY
TECHNOLOGY BOOM
adds smart tools for operators
Technology to help operators mitigate theft, implement promotions, integrate data
and process payments can reduce loss, cut labor costs and streamline operations.
by Bob Tullio
W
HILE COFFEE SERVICE AND VENDING -
the longtime pillars of the convenience services
industry - were not typically associated
with progressive technology, the introduction
and acceptance of micro markets in the last decade
has certainly altered the industry's image. As it turns out,
micro markets are just the tip of the technology iceberg.
Mac Bolak, founder of Panoptyc, said the technology
acceleration in the post-pandemic world was inevitable.
" There are so many smart people and researchers
experimenting with different technologies and obviously,
LLM [Large Language Model], the new AI cutting edge
that has changed the game recently, I think once you
bring all of this data together and you bring the smartest
people together, we're going to continue to get better at an
accelerating rate with AI, which is really exciting for our
industry, " said Bolak.
THEFT-MITIGATION TECHNOLOGIES
Panoptyc provides theft-mitigation technology driven
by AI. Bridger Keally, the company's sales director, said
operators come to Panoptyc for different reasons. " The
most prominent issue is that they're struggling with theft,
obviously. When you've got a self-checkout, it's an inherent
risk. And we've seen the industry average at around
6% across the board recently, and it's obviously tough
seeing that profit slip away, " Keally said. " Second reason is
labor. The operators are super busy working on growing
their business, managing accounts, all that stuff, and it's
frustrating when they have people sitting and reviewing
footage for hours, managing shrink, instead of working
on growing the business. "
26 Automatic Merchandiser * August 2024
Pro Watch Solutions launched its theft-mitigation
product, ARMS, at the NAMA show in Dallas. " We are
using surveillance video and applying AI and other analytics
to identify theft and other lost sales opportunities.
We are providing that to the operator in an easy-to-use
and actionable format, allowing for good conversations
with their customers, " said Mark Kronenberg, founder of
Pro Watch Solutions about its automated retail management
system. " Our vision is to have controls for theft
and to capture lost sales opportunities for micro market
operators, increasing their profits. "
PROMOTION VIA MICRO MARKET DISPLAYS
Advana, a 365 Retail Markets company, sends advertising
and promotional messages to more than 15,000 screens
in micro markets across the United States. " Advana is
a consumer engagement opportunity for an operator,
and the side benefit of that: it is revenue generating, "
said Jacob McNulty, chief customer officer with 365
Retail Markets. Advertisers want access to the workplace
demographic and are willing to pay for it, McNulty noted.
Operators are compensated on different levels. One
level involves general advertising and is not related to
the micro market itself. Another level involves product
launches and working directly with specific consumer
packaged brands. Installing additional digital signage also
can increase revenue.
Another promotion opportunity that Advana can
facilitate is developing a communications package
between the operator's client and their employees, promoting
employee wellness programs or other important
messages. McNulty said that the amount of money an
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august2024

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