Tokens vs dollar coin

[JGinther]

I agree with I.B. We have done dollar coins, dollar coin and quarter payout combinations, tokens, tokens with discounts, prepaid cards with discounts, free vac token with auto wash, fleet cards, all of it. Our answer after all this at many different locations is that it depends a little on the location, but in the end, people never complain about quarters coming out of a changer. Some of the good customers want the option to get a discount, and they love the option of having their company billed and their employees not having something of value to loose... But in the end NOBODY will complain about having a quarter changer on site. You will have some stupid people with the dollar coin complain for sure - but most will just be curious if it really works in all the machines because they are conditioned to put quarters in them. I still remember one idiot, where after a full minute of explaining that the dollar coins are just that: US Dollars... She still wanted her "money back". When I said it was money, and you can use it at the grocery store if you really want to, she said "they take your tokens at the grocery store???" I gave her quarters. She was happy.

 

[chaz]

Yep. I am in the car wash business. I want to make it as easy as possible for my customers to spend money at my wash. All my equipment accepts bills, dollar coins, and quarters. Larger bills and credit/debit also on auto and s/s bays. I sell discounted wash cards at my DAN card dispenser and by mail for gift and fleet customers. Quite frankly I don't care how regular of a customer I am to a business, I don't like the idea of walking away with extra tokens that I can use later, and I can only assume my customers don't like that option either, therefore I choose not to sell tokens. True, one could bring their own exact change to the wash, but again I want it to be as easy as possible to spend money at my wash. So at my wash, selling tokens is not one of my profit centers. I think my simple change to dispense dollar coins will make it easier for customers as they will need to deposit fewer coins. It will also end my issue with those needing chance for the laundry, as the nearby washers/dryers need quarters.

 

[cantbreak80]

In my view, tokens only are a sure fire way to drive repeat business to a competitor.

Imagine that bar and grill you frequent providing tokens as change for your food and beverage tab. “What’s the problem? You’re a regular customer. You can use them next time you’re in for a beer.”

How about that cab ride from the Chicago airport? “Driver carries only tokens for change.” Yeah? Well, I’m only here for the convention…how am I supposed to find you on my return trip to the airport?

Conoco/Phillips announces today: “With an eye towards reducing robberies and break-ins, all company C-stores will provide tokens as change for all purchases.”

Dateline Seattle:
Starbucks eliminates change: “Citing higher operating costs due to daily bank runs for change, Starbucks introduces their pre-paid combination change/debit/gift card. Sheila Grabyeraz, spokesperson for the company spoke to the media about the new process.
“The $66 valued card must be purchased at one of Starbuck’s 176,000 retail locations or, on our website. Regular customers will easily see the benefit of getting one Grande skinny mocha for free after purchasing only 10 of our $6 cups of coffee.”
When asked about occasional customers desired to pay cash, Ms Grabyeraz stated that as far as she knew, “there were no occasional customers at Starbucks.”

“Targets Stores…” Uh, never mind.

 

[washnvac]

In my view, tokens only are a sure fire way to drive repeat business to a competitor.
.

I suppose you could be right. But two of my competitors went broke, and I bought their places for 30 cents on the dollar. Changed to $1 high security tokens on the first day of ownership, and never looked back.

BTW, both of those stores are profitable with steady increases since purchase. Of course changing to tokens is not the sole reason. But it is a key tool to increasing business and gaining new customers.

Apparently it is not for everybody, so we will just have to agree to disagree on the subject.

 

[Earl Weiss]

In my view, tokens only are a sure fire way to drive repeat business to a competitor.

Imagine that bar and grill you frequent providing tokens as change for your food and beverage tab. “What’s the problem? You’re a regular customer. You can use them next time you’re in for a beer.”

.

If the criticism of tokens is that customers may not like being forced to walk away with tokens, (valid I think) and you have security issues and only want to beef up the changer area or want the marketing advantages (Bulk Sales, donations, Volume discount) you can eliminate the forced walk away proposition by simply putting in a bill breaker and having tokens available for $1 increments. That way a customer can buy only what they need for that visit. They could also choose to buy more for a volume discount.

 

[Randy]

Dateline Seattle:
Starbucks eliminates change: “Citing higher operating costs due to daily bank runs for change, Starbucks introduces their pre-paid combination change/debit/gift card. Sheila Grabyeraz, spokesperson for the company spoke to the media about the new process.
“The $66 valued card must be purchased at one of Starbuck’s 176,000 retail locations or, on our website. Regular customers will easily see the benefit of getting one Grande skinny mocha for free after purchasing only 10 of our $6 cups of coffee.”
When asked about occasional customers desired to pay cash, Ms Grabyeraz stated that as far as she knew, “there were no occasional customers at Starbucks.”

We live in Starbucks land and this is a new one on me.

We've dispensed Tokens for over 20 years. We don't get very many complaints from customers about buying tokens. We get the most complaints from customers who swipe there credit card and don't push the Big Red stop button when they are done.

 

[Whale of a Wash]

Randy - The starbucks thing was sarcasm. Also they were stating things that don't require coins or tokens to start like the cab ride.
Casinos until recently used tokens extensively, so they were pretty effective. In my town the places that use tokens are.
1. The City bus.-Discounted rides
2. Toll Bridge.-- I like this as when you buy tokens you cross for free -plus the discount for buying tokens.
3. Chucky cheese.-- Never enough tokens
4. Go-cart track.
5. Space Aliens(restaurant with arcade)
6. My Car Wash.
7. (2) truck stops in town-The showers. -Very seldom go there.
8. Tanning salon -Offers discounts , and machines started by coin meters
9. Fedex-Kinkos-- Like tokens but you put the credit on a card . No discount but the copiers need a card.
10. Laundromat in town uses tokens with a discount for washers and dryers.
Lots of places in my town that use tokens, I would consider a second changer for dollar coins, but i would never consider quarters to dispense.

 

[SSadmiral]

I'm in the process of converting from quarters to $1 tokens. I've recently raised prices to 3 dollars in ss bays and hate to see customers standing there for minutes fumbling around with depositing 12 quarters. This will also quadruple the amount of payouts my changer can make without being refilled. Also, I'm of the opinion that they will spend more since they are dep in increments of $1. I've also just added bill acceptors in each bay to cut down on all the quarters. I have actually been depositing $2000 a month in quarters so I'm hoping I won't have to lug them around anymore.