Many attendees of this weekend's Berkshire Hathaway annual meeting in Omaha saw something they'd never seen before, a complete retail store in just 2 square feet of floor space. In contrast to the usual large booths selling products made by Berkshire-owned brands, Richline Group, a Berkshire Hathaway-owned jewelry manufacturer, deployed the Vigix vending kiosk to sell commemorative, gold and silver coins, pendants and money clips, according to a company press release. Sales were strong throughout the meeting, achieving an annualized sales per square foot of more than $1,125,000.
The Vigix kiosk allows consumers to browse product information on the kiosk's large touchscreen, accepts payment and dispenses the purchases.
The technology that makes it possible to sell and deliver products in such a small space is unique to Vigix, the company said. The proprietary no-moving-parts dispensing system contributes to the efficient operation of the Vigix kiosk; the product inside the kiosk is held in a removable cartridge, allowing the entire kiosk to be refilled by swapping an empty cartridge for a full one, Mark Hanna, Richline's CMO, said in the release.
"Normally, retailers keep our jewelry products in locked cases, which requires a shopper to find a store clerk to learn about the product or to purchase it. With the Vigix kiosk, we can provide pictures, video and text describing the product and allow the consumer to purchase the product herself quickly and easily. We know consumers love self-service, and Vigix is the best solution we've seen."
Read more about kiosk design.