INVENDA 5 Steps to Running a Successful Automated Retail Business
3. MONETISE ADVERTISING “There’s a vast, untapped source of additional income, and that’s leveraging programmatic DOOH advertising platforms,” stresses Wilson. Invenda has already integrated with the One Tech Group and Vistar Media platforms. The Vistar Media platform is one of the six platforms Google has chosen for its recent venture into the DOOH market, signaling the promise of this new format. “Invenda’s screens are part of a huge network for buying and selling ads in near real-time. Operators can sell screen time to media buyers with no cost or effort on their part. Invenda takes care of everything: It’s literally a second revenue stream.”
“T
imes are changing. Operators, retailers and brands are all too aware of the limitations of traditional unattended retail devices,“ says Samuel Wilson, Commercial Lead of Invenda
Group in the UK and Ireland. “Why not leverage cutting-edge technology to both streamline and grow your business as well as offer consumers a modern shopping experience?” For Samuel, digitisation is the only way to go. Old, disconnected devices that can’t be managed remotely are simply too costly to operate and, without innovation sales are destined to stagnate at best. “Consumers are increasingly tech-savvy. They’re demanding
a more engaging experience. If a business doesn’t deliver this, consumers simply go elsewhere.“ For anyone considering modernising their fleet or starting out in unattended retail, Samuel offers five key pieces of advice:
1. REDUCE COSTS One major advantage of smart devices is that they can be connected and managed via a single digital dashboard. This allows remote control of pricing and inventory in real-time, remote troubleshooting, as well as keeping track of servicing levels. “When you don’t have to repeatedly visit machines, you save time and money. Everything is controlled remotely. In addition, you get a wealth of sales data that you can use to optimise your operation and make smart, proactive decisions,” explains Samuel. “This thinking was paramount when we created Invenda’s ecosystem. You get everything in one place: software, hardware, data analytics, payment solutions and advertising options. It’s all about efficiency and optimisation.”
2. BOOST SALES
With intelligent solutions boasting high-tech touchscreens, sales constraints like the incumbent single-purchase option and unattractive, half-empty machines can become a thing of the past. Thanks to modern technology, the shopping experience becomes richer, more entertaining, and more appealing. “A multi-product basket, product animations, special offers, combo
deals, AI-powered product recommendations – all of these increase revenue significantly. Invenda’s clients report a minimum of 30% hike in sales right away. Coupled with a best-in-class shopping experience, both sales and consumer retention increase.”
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4. OFFER THE BEST EXPERIENCE “Experience sells. In order to be competitive in today’s market, you have to sell more than just a product – you need to sell a special feeling. Consumers want to be wooed by both products purchased and the shopping experience equally,” Samuel explains. “Whilst the experience usually associated
with traditional vending machines (picture someone banging the machine in frustration) may have some comedic value for films, this is not how you grab and retain consumers’ attention,” adds Samuel. “What better way to attract consumers than with a giant screen playing instantly engaging videos? People naturally gravitate towards our machines. They want to play with them. They’re just cool. On top of that, there are additional experience-enhancing options, like gamification or mobile payments.”
5. GET SUPPORT Transitioning to digital systems can be a daunting prospect. That’s why Samuel emphasises the importance of having a dedicated customer success team to hold your hand. “Instead of tackling the innovation challenge alone, you need someone who’s committed to the success of your enterprise. Invenda takes special care to onboard all new clients and make the transition as smooth as possible.” By all accounts, the automated retail market is set to grow
exponentially, opening up a world of opportunity to those who are forward-thinking. There’s no stopping the future.
For more information, visit Automated Retail - Invenda Group AG • Invenda is a Swiss-based software company specialising in automated retail: vending machines, smart fridges, and micro- market kiosks with enhanced AI and big data features.
• Invenda’s customers include Mars Wrigley, Coca-Cola, and Selecta. • Invenda will be exhibiting at Vendex North, Leeds on 10 November 2022.
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