SIEMENS


Financing vending innovation


Kathryn Vassilissin, Vendor Finance, Siemens Financial Services UK, takes a fresh look at trends  businesses take advantage of emerging opportunities.


E is estimated for 2024. i have exceeded 2019 levelsii


arlier this year, the Vending & Automated Retail Association (AVA) revealed its latest census results for the vending industry, showing 14% overall revenue growth in 2023, and 11% growth Should this be achieved, the industry will – a testament to the sector’s resilience


and lateral thinking. Consumer habits have changed and vending machine businesses have evolved in parallel. The challenges have come from different directions. The pandemic, followed by the rise of hybrid working, occurred alongside diverse food trends – notably the growing focus on health, wellness and sustainability among more informed customers.


ATTITUDES TO FOOD We are a nation that now prefers oat milk in our coffeeiii


; and given


that just 15% of the population follow a vegan, vegetarian or pescatarian dietiv


, this preference for oat milk is a good metaphor for


 now available to us. According to research sourcesv


, over half of UK consumers (59%)


are actively trying to eat healthily, over a quarter (26%) are trying to eat less meat, and a similar proportion (29%) try to avoid plastic packaging when buying food. In contrast, a quarter want fast and convenient food, and 17% do not enjoy cooking. 14% also say they


can’t afford to eat healthily. Vending operators are well placed to square the circle between these two different trends. With more of us working from home, we have more control over


what we consume – supporting healthy eating endeavours. But this also means that a lack of suitable and readily available options in the 


PATTERNS OF HYBRID WORKING According to a Forbes Advisor survey of 1,100 UK respondents, 63% work remotely either all or some of the time. And this aligns with global patterns too.vi Vending machine and catering providers need regular data on


exactly how these trends affect their service. For instance, tech  or energy employees. vii


vii


Friday appears to be extremely unpopular There may be


 season for accountants. This variable footfall gives the vending machine a new role. Where a manned dining area no longer makes sense, or during those known quiet periods, the vending machine can provide good quality meals and refreshments. The UK has already seen a 40-50% increase in micro markets, according to the AVA’s David Llewellynix


.


TAILORED VENDING EXPERIENCES  – given you can set them up according to the location and target customer.x


They point out that health-conscious customers are able


to see how fresh a product is and check nutritional information before purchase. Empowering the customer in this way is especially  requirements – they need not be excluded in the modern vending experience.


10 | vendinginternational-online.com


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