Basingstoke, July 6, 2023 – According to the Retail Cash Automation 2023 Report from independent strategic research and consulting company RBR, GLORY (TYO:6457) 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.
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.”
RBR’s Retail Cash Automation 2023 is RBR’s latest report exploring the growing market for retail cash automation technologies - cash acceptors and recyclers, across four retail segments (Grocery, General Merchandise, Convenience and Hospitality) in 26 countries of the EMEA region.
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About GLORY
As a global leader in cash technology solutions, we provide the financial, retail, cash center and gaming industries with confidence that their cash is protected and always working to help build a stronger business.
Our cash automation technologies and process engineering services help businesses in more than 100 countries optimise the handling, movement and management of cash. While we span the globe, we personally engage with each customer to address their unique challenges and goals — enhancing staff efficiency, reducing operating costs and enabling a more rewarding customer experience.
Employing over 11,000 professionals worldwide with dedicated R&D and manufacturing facilities across the world, GLORY is built on a rich customer-focused, technology-driven heritage spanning almost a hundred years.
For further information please visit https://www.glory-global.com or follow us on LinkedIn: https://www.linkedin.com/company/glory-global/.
About RBR
RBR is a strategic research and consulting firm with three decades of experience in banking and retail automation, cards and payments. It assists its clients by providing independent advice and intelligence through published reports, consulting, newsletters and events.
In 2022, RBR merged with Aite-Novarica Group (ANG), an advisory firm providing mission-critical insights on technology, regulations, markets, and operations to banks, payments providers, insurers, and securities firms. Both companies are now rebranded under the Datos Insights name.Media Contacts:
GLORY
Paul Race
Vice President, Strategic Marketing
+44 (0) 7887 052366
paul.race@glory-global.com
