The Vault is a Self-Serve Coffee Shop That Relies On the Honor System
Alyson Wyers — July 10, 2014 — Lifestyle
References: thevaultvalleycity & springwise
Realizing that coffee basically costs the same everywhere, give or take a few dollars, North Dakota's The Vault is a self-serve coffee shop and bakery. Payment relies on the honor system as people make their own coffee.
The former bank is equipped with a Keurig K-Cup machine and professional brewer. Customers can pour themselves a cup, check the price board (the menu also includes soft drinks and snacks), tally up their total and pay the bill. There is a slotted honesty box patrons can slip cash into, or they can also pay by check of self-service credit card reader. Other than security cameras, no other incentives are in place to make people pay. In fact, the self-serve coffee shop has found people pay 15% more than the menu price, on average.
The former bank is equipped with a Keurig K-Cup machine and professional brewer. Customers can pour themselves a cup, check the price board (the menu also includes soft drinks and snacks), tally up their total and pay the bill. There is a slotted honesty box patrons can slip cash into, or they can also pay by check of self-service credit card reader. Other than security cameras, no other incentives are in place to make people pay. In fact, the self-serve coffee shop has found people pay 15% more than the menu price, on average.
Trend Themes
1. Self-serve Shops - Self-serve shops could disrupt the traditional retail model by eliminating the need for staff and reducing overhead costs.
2. Honor System Payment - The use of honor system payment could increase consumer trust and reduce transaction friction in various industries.
3. Unstaffed Facilities - Unstaffed facilities can create around-the-clock availability and increased convenience for customers while reducing the need for staff.
Industry Implications
1. Retail - Self-serve shops and honor system payment could disrupt traditional retail models by reducing labor costs and increasing convenience for customers.
2. Hospitality - Unstaffed facilities, such as self-check-in hotels, could reduce labor costs and wait times for customers while increasing around-the-clock availability.
3. Food and Beverage - Self-serve coffee shops and restaurants could reduce wait times and increase convenience for customers while decreasing labor costs.
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