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Jewelry exchange kiosks convert unwanted jewelry into cash

This kiosk, which was recently deployed in several Minnesota supermarkets, allows customers to convert unwanted jewelry into cash or gift cards.

December 14, 2015

Kiosk manufacturer Goldstϋr has deployed its jewelry exchange kiosks at several Cub Foods locations in Minnesota, as part of an agreement with Cub Foods owner Supervalu Inc. The kiosk allows customers to convert unwanted jewelry into cash or gift cards, according to a report by Progressive Grocer.

"As one of the largest grocers in the nation with multiple banners throughout the country, Supervalu represents a tremendous opportunity for us," said Kevin Miller, COO of Goldstϋr. "Retailers love us because there is no cost of ownership or labor associated with the kiosk, and it provides an immediate revenue source in a very small footprint."

The process takes about two minutes to complete, and costs $2 for the appraisal fee. The offers are based on market prices that are updated hourly. The user can choose between a cash receipt or gift card, or he or she can decline the offer.

"We have a strategic marketing plan that we are implementing through Cub Foods to bring consumer awareness to our kiosk concept and drive traffic to these locations," Miller said. "And we plan to expand rapidly by targeting busy shopping malls, supermarkets and big-box retailers nationally."

The kiosks have been deployed in Cub Food stores in Silver Lake, Stillwater, Midway, Coon Rapids and Apple Valley.