Coinstar Inc. yesterday announced that it has installed its first machines in stores operated by the two largest grocery retailers in the United Kingdom.
Coinstar(R) self-service coin counting machines are now available in seven London-area Sainsbury’s Savacentre stores and one London-area Tesco store, marking the initiation of Coinstar’s European operations.
“We are really pleased to be working with Coinstar,” said Paul Wilson, retail innovation manager for Sainsbury’s. “We hope that existing and new customers will see Coinstar machines as an attractive new service which saves them time. So far, customer reaction has been very positive.”
Sainsbury’s operates 398 supermarkets and 13 Sainsbury’s Savacentres and Tesco operates 639 stores in the United Kingdom. Together, these two retailers account for more than 40 percent of all U.K. grocery sales.
“We are encouraged by the early market acceptance we are experiencing in the U.K.,” said Jens Molbak, CEO of Coinstar Inc. “British consumers are confirming what our research told us: coin hoarding is a problem in the U.K. because, until now, there hasn’t been an easy way to cash in coins.”
Coinstar’s patented coin counting mechanism was adapted to count the full range of British coins, including the (pound)1 and (pound)2 coins. Coinstar’s device is easily adapted to the currency sets of most countries.
“One of the challenges of entering a new market is determining how best to work within the retailers’ operational needs and the logistics of the banking system,” continued Molbak. “I am pleased to report that our service is functioning very smoothly from an operational perspective. This is a positive first sign as we expand our presence in the U.K. and position ourselves for future euro conversion opportunities.”
Coinstar Inc. and its subsidiaries provide consumers and retailers with value-added services that increase customer loyalty and retailer profitability. The Coinstar network currently delivers the company’s self-service coin counting product to more than 5,300 leading supermarkets in 38 U.S. states, the United Kingdom and Canada. The company’s new Coinstar Shopper product is designed to bridge the gap between the Internet and the store. Consumers can call 1-800-928-CASH, or visit for the location of the nearest Coinstar machine.Details