Coinstar, Inc. Announces the Third Annual 'The Next Big Idea' Contest
Winning Automated Retail Idea to Receive $10,000 at the Customer Engagement Technology World Conference; Company Continues Commitment to Innovation
BELLEVUE, Wash., Aug. 15, 2011 /PRNewswire/ -- Coinstar, Inc. (NASDAQ: CSTR), a recognized leader in automated retail solutions, today announced that it is accepting entries for its third annual The Next Big Idea contest, open to entrepreneurs with a viable business idea for a new and innovative kiosk-based solution.
"As first a pioneer, and today a leader in automated retail, we take the role of fostering innovation in the market very seriously," said Paul Davis, chief executive officer of Coinstar, Inc. "This contest is another way in which we can encourage entrepreneurs to think about the future potential for self-service and the value that new innovations can bring to both retailers and consumers."
Coinstar has a dedicated New Ventures division that incubates and tests new ideas as well as invests in promising automated retail businesses. In addition to The Next Big Idea contest, the company also runs an annual competition among its employee base to spawn new ideas.
Qualified contest entries will be judged on, among other things:
- the best solution for a consumer and/or retailer,
- potential market size and growth,
- originality and practicality.
The winning idea may be a service that didn't exist previously, such as self-service coin counting that was pioneered by Coinstar in the early 1990s, or an idea that changes the way an existing product is offered, like redbox® DVD rental. The entrepreneur or business with the best kiosk concept will be awarded $10,000.
"A number of innovative concepts have been presented in previous years, and in light of the current growth potential of this category, we are looking forward to seeing this year's entries," said Gregg Kaplan, president and chief operating officer of Coinstar, Inc.
Entries are due by Sept. 30, and the winner will be announced at the Customer Engagement Technology World Conference on Nov. 10 in New York City.
About Coinstar, Inc.
Coinstar, Inc. (NASDAQ: CSTR) is a leading provider of automated retail solutions offering convenient services that make life easier for consumers and drive incremental traffic and revenue for retailers. The company's core automated retail businesses include the well-known redbox® self-service DVD rental and Coinstar® self-service coin-counting brands. The company has approximately 33,300 DVD kiosks and 18,900 coin-counting kiosks in supermarkets, drug stores, mass merchants, financial institutions, convenience stores, and restaurants. For more information, visit www.coinstarinc.com.
About "The Next Big Idea" Contest
Entry forms and complete contest rules are available on Coinstar's web site at www.coinstarinc.com/ideas, as well as complete judging criteria, odds of winning, and description of prizes. All submissions are due by 11:59 p.m., Pacific Time, on Sept. 30, 2011, or when Coinstar receives 100 eligible entries, whichever is earlier, no purchase necessary. Void where prohibited. Contest is subject to Official Rules. Contest Sponsor: Coinstar, Inc., 1800 114th Avenue Southeast, Bellevue, WA 98004.
About Customer Engagement Technology World
For 15 years, Customer Engagement Technology World (featuring KioskCom & The Digital Signage Show) has delivered strategic, marketing and technical business solutions for organizations focused on enhancing their customer engagement programs through digital media such as kiosks, digital signage, self-service, digital out-of-home/place based media, mobile and other customer-facing technologies. For more information, visit www.CETWorld.com.
SOURCE Coinstar, Inc.