Exhibitor Spotlight – Peter Wolf, Senior Vice President at Glory – Retail Markets

Peter Wolf, GloryThis month we turn the spotlight on Peter Wolf, Senior Vice President at Glory – Retail Markets. In the interview, we uncover the future trends in the cash handling and automation sector as well as the opportunities and challenges that the industry faces within the next five years.

Hi Peter, please can you tell us about your role as Senior Vice President at Glory – Retail Markets, what are your key focus areas and responsibilities?

I am responsible for marketing Glory’s solutions for cash automation to the retail markets. These include grocery; big box; specialty; entertainment; hospitality; restaurants, casino’s; convenience stores etc…

What are the megatrends and future technologies in the cash handling/automation sector?

Cash will not be eliminated from retail for many years to come. What will happen is that the handling and processing of cash at retailers will be automated. In effect, the cash will go from the consumers' hands into technology and not need to be handled by associates. Cash will become an electronic payment from the retailers’ perspective. Additionally, integrations in software from various companies from the cash automation manufacturers to CIT companies and banks will continue to develop and drive cash solutions for a fully automated process driving cost out of the entire process.

For further information, please download the pdf of cash stats.

What are the key opportunities and challenges your company faces at present?

Our key opportunity is to help retailers re-deploy associate hours away from repetitive tasks that do not add value to customer facing/customer experience tasks that help them compete in the marketplace. The challenge is to help retailers cut through the clutter of the headlines that predict the demise of cash, the actual transaction data tells a much different story. Retailers and Operators have a vast number of areas and projects competing for budget dollars. Breaking through to the top of the list can be a challenge. Once retailers and operators experience the impact cash automation does make to the bottom line in labor savings and reduction of idle cash, that can establish our solution as a priority.

How do you think the industry will develop within the next five years? Can you tell us about the key trends emerging?

The industry is changing so quickly that it is very difficult to predict trends in five years. One thing that I think is constant is that retailers must provide a significant and unique value proposition to their customers to draw them into their stores. Store associates are key and focusing them on productive customer-focused activities is mandatory. Additionally, cash automation opens opportunities for retailers, casinos, and foodservice operators to re-imagine their check-out experience saving labor hours and space that could be used for more productive business. Foodservice Operators can re-design the entire checkout experience by enabling cash kiosks. Retailers can also re-design the checkout process and eliminate cash rooms altogether. Casinos can re-design the gaming floor and cage through cash automation.

In terms of industry news, what development, announcement, or otherwise stood out most to you in the last year?

Amazon’s purchase of Whole Foods Markets, this put the traditional brick and mortar retail on notice that the world is changing and quickly! The Amazon impact continues to increase opportunities for retailers like Walmart with order online and pick up the same day. Having cash automation at check-out kiosks can enable retailers to offer cash payments even for online orders.

In one sentence, what has been your greatest achievement to date?

Positively impacting a number of retailer’s bottom line by automating cash processing.

We’re looking forward to seeing you at ACCE 2018. Can you tell us what you are looking to achieve at the event?

Network and show retailers the value that Glory’s solutions can bring to their organizations.

Glory will be exhibiting at the Anti-Counterfeit & Currency Expo, taking place November 6-8, 2018 in Las Vegas, USA. Don't miss them at booth 314!