The use of vending machines is a very unique business strategy that has a lot of benefits depending on the product you are selling and the market you are appealing to. The vending machine business makes over $60 billion annually, with the majority of vendors and business owners working on a part-time basis, all over the world. Vending machine businesses are the most successful when your product appeals to a market that is in a condensed geographic location, and when your product is the right size, shape and function for purchasing on the go.
Online shopping is now one of the most powerful tools for businesses to get their product to market. In contrast, a business model built on the use of vending machines has completely opposite advantages. Therefore, this strategy makes sense for products you wouldn’t normally buy online. Online shopping is done from the convenience of your home, from almost anywhere in the world, for products you might not receive for days or even weeks. Vending machine shoppers are looking for the convenience of making their purchase on the go, and are often looking for products that they are able to use or consume immediately. Therefore, vending machines are becoming the perfect complementary business model to run alongside the growth of online shopping platforms.
Snacks are still number one
Vending machines are used for a variety of products, especially outside of North America. However, vending machines are still most commonly used for food and beverage items, usually pre-packaged snacks and drinks that are perfect for someone who needs to grab something to eat or drink. This is the perfect type of product for a vending machine because people can often find themselves hungry when they are out all day, and food is something they would like to purchase and consume immediately. Vending machines also have the capabilities for temperature control, so keeping food at a safe temperature is easy to do.
Depending on the location and popularity of the vending machine, the variety of food and beverages can become more diverse when there is no need to worry about expiring goods. Some machines offer entire meals rather than just snacks. Pizza, burgers, hotdogs and salad can all be purchased through a vending machine for customers who are looking for a hot meal. This trend has not established itself in North America, but can often be found in places such as Japan As Seen Here.
Business on a budget
Although vending machines may require a company to spend money purchasing and installing machines, they allow companies to save money on labour and avoid high costs associated with store maintenance that can add up over time. Many businesses that do not produce enough income to properly support employees benefit from vending machine solutions because they require very minimal attention once they are up and running. Most high quality machines also offer remote monitoring. This way business owners or employees can check in on the stock and maintenance of a machine without having to leave the home or office; a perfect solution for monitoring all of your locations without having to spend money for time and travel.
If you think that having a vending machine would be a strategic way of selling your product, or if you’re looking to have a vending machine at your work then Contact Regional Vending today!