MACHINE & MACHINE REFURBISHMENT
and interactive retail experience to users. “Armed with various hi- tech features, intelligent vending machines offer a more interactive, personal, and fun experience to customers, while enabling operators and brands to use data analytics and cloud services to enhance efficiency and reduce operational costs.” GIA reports that, “Connected vending machines have evolved to
become smarter with the use of big data and analytics which help businesses interpret consumer behavior and preferences to design safe, secure, and appropriate product options. Cashless transactions coupled with the emergence of mobile commerce (m-commerce) offers potential growth opportunities for automatic merchandising. With non-food and high priced product vending becoming popular, cashless machines are poised to fuel future growth in the market. Intelligent vending machines perform automatic currency rendering calculations at lightning speed, making them far more efficient than manual calculations which are prone to errors.” Brian Shimmerlik, CEO at Vengo Labs, got in touch with VI to talk
about the importance of staying up to date with the latest self- service technology. “New technology will drive the vending industry forward and expand our market,” he said. “We’ve recently seen an influx of innovations in the payments sector and an emergence of new telemetry systems. The most important factor in evaluating new technology is how the technology impacts consumer behaviour – and how the industry can react to these changes.” Vengo’s wall-mounted vending
machines, for example, have a slim form factor and a customizable exterior that have been designed to be placed in the high-profile locations where consumers choose to spend their time – schools, hotels, and gyms. Brian told VI:
“Vengo works with CPG brands to bring their messaging to these locations. We leverage our units’ touchscreens to deliver brand- sponsored content (surveys, games, etc.) at the point-of-purchase; our machines couple a retail experience with interactive digital media. Since our machines are cloud-operated, we can update brands’ media content, monitor machine status, and track consumer purchase behavior across our entire network in real-time. Not only have we simplified day-to-day operations, but Vengo has created a new stream of advertising revenue for vending companies. So, as it becomes increasingly difficult for CPG companies to reach consumers, Vengo has empowered the vending industry to serve as valuable partner for these brands.”
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TRENDS SUPPORTING TRENDS Technology has changed consumer behaviour. The amount of time spent in front of a screen is constantly increasing, which is affecting the way consumers respond to traditional, old school marketing practices and impulse purchases. Vending operators therefore need to ensure the technology they invest in reflects consumer behaviour; meeting them on their preferred online territory and engaging via social media, apps and interactive technology. Today’s world is becoming steadily more automated, which is good news for the vending industry – but only if it updates its technological offering to match the changing market. Despite the poor reputation of vending in the promotion of
healthy eating, the trend towards healthy eating and demand for intelligent, interactive self-service interfaces can be mutually beneficial. Up-and-coming brands in the healthy eating and drinking sector have found that teaming up with forward-thinking vending operators can help their products to reach new consumers and a wider demographic range. Euromonitor reports that: "Vending is benefiting from a growing focus on healthy and premium food and beverages, with the health and wellness trend resulting in a growing number of consumers willing to pay more for healthy or quality snacks. Captive locations such as workplaces are seeing a stronger focus on healthy options, as companies seek to encourage healthy eating habits amongst their employees. Niche players such as Healthy Nibbles are meanwhile seeking to cater to this gap in demand, offering a complete range of healthy savoury snacks, energy and nutrition bars and soft drinks with full dietary information and allergy advice." Next generation intelligent vending machines, in particular those
featuring LCD screens, are an ideal solution for ensuring that regulations regarding the displaying of product warnings and accurate and clear product nutrition information are met. Allowing consumers to see the nutritional content of vended products before they make their choice creates another level on which vending can compete with the high street. According to Allied Market Research, technological advances such
as wireless communication and remote management could help self service take a step further. “The integration of biometric security services such as fingerprint recognition, which ensure secured financial transactions, would boost the market growth,” the report maintains. Although fingerprint recognition and retinal scanners seem a little too James Bond for vending, contactless payment systems, interactive content and wireless telemetry are already here. In order to maintain a position at the top of the digital self-service sector, vending operators will need to ensure their technology keeps up with the evolving expectations of consumers.
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