According to the Retail Cash Automation 2023 Report from independent strategic research and consulting company RBR, GLORY leads the EMEA market for retail cash recycling solutions with 44% market share (+12 points vs the previous RBR report published in 2020). The report examined retail cash recycling at both the point of sale and in the back office and found that Glory leads both deployment categories with 39% and 66% market share respectively.
GLORY Confirmed as EMEA Leader in Retail Cash Recycling Solutions by RBR
According to the study, Glory is also ranked #1 supplier of cash management devices (all types of product category – acceptors and recyclers) across the EMEA region with more than 49,000 units installed.
To improve efficiency, reinforce security, relieve staff from non-added value tasks while delivering an enhanced customer experience, Retailers are automating their cash processes across their store networks. While cash acceptance solutions have been deployed for many years, more and more retailers are increasingly shifting from simple cash deposit systems to more flexible cash recyclers, seeing the performance benefits provided by these solutions. These include reduced time for float preparation and end of day cash reconciliation, reduced cash shrinkage, enhanced counterfeit detection and optimised cash collection / delivery scheduling.
Vincent Nakache, President EMEA and GLORY LTD. Senior Executive Officer, said: “We are delighted this independent study confirms that retailers across the region continue to recognise the value of our retail cash automation solutions.”
Glory manufactures a range of CASHINFINITY™ cash recycling solutions to support all retail segments and footprints from convenience stores and quick service restaurants thorough specialist retailers to large format stores and hypermarkets. Glory’s portfolio also includes UBIQULAR™ Digital Services, enterprise-level software solutions, that provide remote device management and monitoring, and business intelligence tools to allow retailers to focus on their core business activities. In addition, Glory Professional Services Consultancy offers leading expertise across a wide spectrum of offerings to drive customised deployments from the earliest stages of projects through to maximising customers’ return on investment.
In its report, RBR forecasts that by 2027, the cash management market in retail will be driven by recycling solutions, both at the point of sale and in the back office (+87% growth vs 2022).
Hagen Hoehl, Vice President of Retail Markets for the EMEA region at Glory, commented: “We are delighted to be leading this growing market and delivering solution to our customers in both the front of store and back-office environment. Within the EMEA region, cash still represents the most important payment choice for consumers in store, despite a growing market of non-cash payment alternatives. The latest European Central Bank report – from December 2022 – on the payment attitudes of consumers in the euro area found, that cash still represent 59% of all POS transactions. More and more, we are having discussions with retailers who want to improve the processes and cost around the cash payment option and are optimizing their operations and the customer experience by implementing cash recycling solutions at their point of sale, their self-checkout solutions or in the recent strong growing sector of self service and autonomous store solutions.”