In the year 2024, Coinstar has made significant progress in its presence within the retail sector in Spain, currently operating 700 kiosks in supermarkets and hypermarkets throughout the country. This expansion has solidified the company as the primary resource for converting coins into purchase vouchers or cash, generating a notable impact on consumer buying dynamics and the profitability of its commercial partners.
During this period, Coinstar has processed around 70 million euros, representing a 14% increase compared to the previous year, when 61 million euros were processed. In total, since its inception, the company has handled a total of 260 million euros. This record has been made possible through collaboration with major retail chains in Spain, such as Carrefour, Eroski, Bonpreu, and Condis. These partnerships have been key in ensuring Coinstar’s presence in both large retail outlets and smaller stores.
Coinstar has become a strategic ally for the food retail sector, promoting consumer convenience and strengthening loyalty to point of sale. This growth has had a positive impact on the finances of supermarket chains and has attracted over 1.5 million new users, bringing the total number of satisfied customers to over 6 million since its inception.
One of the standout metrics is the average transaction value, which stands at 45 euros, surpassing the average ticket of 35.81 euros in Spanish supermarkets. This data reflects consumer confidence in the service offered by Coinstar, which not only facilitates the circulation of over 870,000 million low-denomination coins accumulated in households but also promotes the efficient use of cash.
Looking ahead to the future, Coinstar projects a new line of business and the installation of more kiosks for 2025. The company aims to close new agreements with key partners to continue expanding its network of installations and further its growth in the national market.
With its network of kiosks in major supermarket chains in Spain, Coinstar remains a reference in the application of technological solutions to the retail sector. Javier Rosado, Commercial Director of Coinstar in Spain, has expressed his satisfaction with the achievements made: “We are proud to have transformed over 260 million euros into opportunities for consumers and increased revenue for establishments, and we continue to work to expand our impact.”
Coinstar was born with the mission to give value to low-denomination coins and increase consumers’ purchasing power, while also improving the profitability of the retail sector. Its focus on digitization and enhancing the customer experience continues to set the path for the future of commerce in Spain.
Referrer: MiMub in Spanish