LA-based Provision Interactive Technologies has done a partnership that will see its 3D holographic display and point-of-sale coupon system added to some 300 Coinstar money-counting kiosks in the U.S. before the end of this year.
The partnership, says a press release, enables Coinstar to offer customers in-store savings on consumer products with coupons offered through the kiosks’ touchscreen system. The kiosks will include Provision’s patented 3D holographic product, which will project advertiser messages from the top of the kiosk, and create new revenue opportunities for Coinstar and its retail partners.
There are Coinstar kiosks in some 17,000 locations, so there are some serious growth opportunities if the business plan works out.
“Our partnership provides an incredibly valuable platform for advertisers that want to leverage Coinstar’s footprint at grocers and big-box retailers nationwide to drive increased in-store purchases,” says Provision President and CEO Mark Leonard.
“This agreement represents a pivotal milestone for our company and validates the applicability of our technology across new retail settings,” adds Leonard. “We look forward to working with Coinstar to roll out these expanded product offerings to a national customer base, which we view as a transformational growth opportunity for Provision and its shareholders.”
A recent study by Provision found that its 3D Savings Center provided a maximum rate of coupon redemption as high as 44 percent, which far exceeds the published national average coupon redemption rate of one-to-two percent.
If you are familiar with Provision, you may be wondering what happened to longtime frontman Curt Thornton. He’s still there, but this fall switched over to COO. He also chairs the company board.
This is a podcast done with him earlier this year …
Dave Haynes is the founder and editor of Sixteen:Nine, an online publication that has followed the digital signage industry for more than 13 years. Dave does strategic advisory consulting work for many end-users and vendors, and also writes for many of them. He’s based near Halifax, Nova Scotia.