Cantaloupe, Inc. Launches Innovative Smart Stores

Rhea-AI Summary

Cantaloupe Inc (Nasdaq: CTLP) has launched its new Smart Store Series, featuring the Smart Store 600 and 700 models. These self-service retail solutions aim to address key challenges including labor shortages and theft while maintaining seamless consumer experience.

The Smart Stores work through a secure system where customers present payment at POS to unlock the unit, select items tracked by weighted-shelves and cameras, and complete their purchase. The technology features touchscreens, audio assistance, and integrates with Cantaloupe's platform for inventory management.

Early adopters report significant benefits, with GALLS noting improved military base retail accessibility and Barrett Vending reporting theft reduction from 12% to 0% at a car dealership installation. The solution is available in the US and Canada, with planned expansion to UK and Mexico.

Positive

• Smart Store implementation reduced theft from 12% to 0% at a car dealership location
• Geographic expansion planned for UK and Mexico markets
• Technology addresses labor shortage issues through automation
• Product enables expansion into new market segments (airports, college campuses, military bases)

Negative

• None.

Insights

Tech Product Analyst

The launch of Cantaloupe's Smart Store Series represents a significant technological advancement in the self-service retail space. The Smart Store 600 and 700 models integrate sophisticated security features like weighted shelves and camera monitoring, addressing critical retail pain points of theft and shrinkage. Early adoption results are compelling - one vendor reported a reduction in theft from 12% to 0%. The platform's integration capabilities with Cantaloupe's existing systems create a comprehensive ecosystem for inventory management and reporting. The scalability feature allowing expansion from one to four units provides flexibility for various deployment scenarios. This product launch positions Cantaloupe to capture market share in multiple sectors including retail, military bases and hospitality, potentially driving new revenue streams.

Market Research Analyst

This product launch is strategically positioned to address multiple high-growth market opportunities. The timing aligns with increasing retail automation trends and labor shortage challenges. The expansion into new verticals like military bases through GALLS partnership demonstrates strong market penetration potential. Geographic expansion plans into the UK and Mexico indicate significant growth opportunities. The system's ability to handle diverse product categories from clothing to sporting goods opens up substantial market segments beyond traditional vending. The positive testimonials from early adopters in different sectors (military retail and car dealerships) validate the product's market fit and potential revenue impact.

New Cantaloupe Smart Stores Set the Standard for Reliability and Security in Self-Service Solutions

MALVERN, Pa.--(BUSINESS WIRE)-- Cantaloupe, Inc. (Nasdaq: CTLP), a global leading provider of end-to-end technology solutions for self-service commerce, is launching its new Smart Store Series, including the Cantaloupe Smart Store 600 and 700 models. These advanced self-service retail solutions are designed to revolutionize the way food and beverage vendors, as well as broader retailers, address key challenges including labor shortages, theft and shrinkage, while maintaining a seamless and inclusive consumer experience.

Cantaloupe launches innovative Smart Stores to address key challenges including labor shortages, theft and shrinkage, while maintaining a seamless and inclusive consumer experience. Smart Stores work by unlocking after a customer presents payment at the point-of-sale (POS). The customer then grabs the item(s), which are added to their cart, then completes the purchase by pressing Pay and walking away.(Photo: Business Wire)

“We’ve heard from retailers about core customer and operational challenges, which encompass product accessibility, store locations, theft prevention and inventory management,” noted Jeff Dumbrell, chief revenue officer of Cantaloupe, Inc. “Our Smart Stores can solve all these issues in traditional retail environments (think of locked up razors and high-end beauty products), while extending retail brands into new footprints like airports and college campuses. Additionally, Smart Stores provide a more modern and secure alternative to traditional food and beverage vending machines.”

Retailers and vending operators who have already installed a Cantaloupe Smart Store emphasize the immediate benefits of the solution. “We at GALLS (parent company of U.S. Patriot) have been searching for a solution to offer our retail products more conveniently across military bases,” said Josh Sandhaus, vice president of Military Operations at GALLS. “The Smart Store 700 Duo has been a game changer for us, exceeding all expectations. We can stock a diverse range of retail products and reduce our labor costs while maintaining a high standard of security. We also create additional brand awareness with customized marketing wraps on each Smart Store. We’ve seen an incredibly positive response from our customers, who appreciate the on-demand access to products like caps, tape, headlamps, batteries, flashlights, notepads, socks and more. Because of its success, we plan to expand Smart Stores across all our U.S. Patriot locations.”

Ron Barrett, CEO of Barrett Vending located in Houston, Texas, said of his experience: “The Smart Store is the next great technology for vending. It has opened up entirely new sales opportunities for our business. We went from seeing 12% in theft at a micro market placed in a car dealership to 0% with the Smart Store 600 Quad. And the best part is the client loves it, from the way it works, to the modern look it provides their dealership.”

Cantaloupe’s Smart Stores offer a 24/7 self-service solution with advanced technology and security, designed for retailers, residential buildings, fitness centers, hotel pantries and more. The customer presents payment at the point-of-sale (POS) to unlock the unit, grab the item(s), which are added to their cart, then completes the purchase by pressing Pay and walking away. Available in the United States and Canada, and soon to be available in the UK and Mexico, the Cantaloupe Smart Store Series includes key features designed to enhance the consumer experience such as:

• State-of-the-Art Secure & Reliable Technology: The Smart Store uses weighted-shelves and cameras to monitor inventory and minimize shrinkage.
• Enhanced Customer Experience with Audio Assistance & Accessibility: The Smart Store offers touchscreens, audio help, and visual cues to ensure an accessible and seamless shopping experience.
• Turnkey Setup & Installation: Planograms and product restocking are easily updated through the POS or back-end portal with minimal effort.
• Flexibility to Scale Store Size & Product Mix: Operators can scale from one to four units and stock a variety of products, from clothing to sporting goods.
• Cantaloupe Platform Integrations: Smart Stores integrate with Cantaloupe’s platform for streamlined inventory management and reporting.

“By addressing core challenges such as theft and labor shortages, our new solutions not only protect our customers’ investments, but also open new revenue streams,” noted Dumbrell. “We’re excited to bring this reliable, inclusive technology to market and expand into adjacent verticals with a product that truly meets the needs of our customers.”

To learn more about Cantaloupe Smart Stores visit cantaloupe.com. To see the Cantaloupe Smart Stores in action, watch a Cantaloupe’s video here.

About Cantaloupe Inc.

Cantaloupe, Inc. (Nasdaq: CTLP), is a global technology leader powering self-service commerce. Cantaloupe offers a comprehensive suite of solutions including micro-payment processing, self-checkout kiosks, mobile ordering, connected point of sale systems, and enterprise cloud software. Handling more than a billion transactions annually, Cantaloupe’s solutions enhance operational efficiency and consumer engagement across sectors like food & beverage markets, smart automated retail, hospitality, entertainment venues and more. Committed to innovation, Cantaloupe drives advancements in digital payments and business optimization, serving over 30,000 customers in the U.S., U.K., EU countries, Australia, and Mexico. For more information, visit cantaloupe.com or follow us on LinkedIn, Twitter (X), Facebook, Instagram or YouTube.

Cashtag $CTLP

G-CTLP

View source version on businesswire.com: https://www.businesswire.com/news/home/20241210325855/en/

Jenifer Howard | 202-273-4246

jhoward@jhowardpr.com

media@cantaloupe.com

Source: Cantaloupe, Inc.

FAQ

What are the main features of Cantaloupe's (CTLP) new Smart Store Series?

Cantaloupe's Smart Store Series features weighted-shelves, cameras for inventory monitoring, touchscreens with audio assistance, turnkey setup, flexible scaling options, and integration with Cantaloupe's platform for inventory management.

How does Cantaloupe's (CTLP) Smart Store payment system work?

Customers present payment at the point-of-sale to unlock the unit, select their items which are automatically added to their cart, and complete the purchase by pressing Pay before leaving.

Where are Cantaloupe's (CTLP) Smart Stores currently available?

Cantaloupe's Smart Stores are currently available in the United States and Canada, with planned expansion to the UK and Mexico.

What theft reduction results have been reported for Cantaloupe's (CTLP) Smart Store?

Barrett Vending reported a reduction in theft from 12% to 0% after replacing a micro market with a Smart Store 600 Quad at a car dealership location.