Micro markets are small retail spaces that provide a range of snacks, beverages and other convenience items, and here are four reasons why they are trending:
- Convenience: Micro markets offer a high level of convenience to consumers. They are typically located in office buildings, schools, hospitals, senior living communities and other places where people spend a significant amount of time. This allows individuals to quickly grab snacks or other essentials without having to leave the premises.
- Extended operating hours: Unlike traditional stores, micro markets can have untraditional hours or even operate 24/7 with automated or self-service checkouts. This feature caters to individuals who work late shifts, students studying late at night or people who simply prefer shopping at unconventional hours. The accessibility factor contributes to their rising popularity.
- Customization and variety: Micro markets provide a wide variety of products to cater to diverse tastes and dietary preferences. They can stock products based on the specific demands of the location and consumer base. This customization and variety make them attractive to a broader range of customers and often a very profitable venture for businesses. Here are some more specific types of items that can be sold in micro markets: snacks, beverages, fresh food, frozen food, healthy options, convenience items like office supplies and personal care items as well as specialty items such as local snacks and protein bars.
- Cost effectiveness: Micro markets can be cost effective for businesses that choose to install them on their premises. They can especially be cost effective by maximizing sales per square foot and having a small enough footprint that staff can more easily offer exceptional customer service.
Looking for resources to help you plan a micro market? Check out these links!