There are many great consumer products on the market today, with a wide variety of vending machine products sold all over the world. Vending machine products vary from quick snacks and drinks to electronics, clothing and health supplies. How does a vending machine owner decide what products they would like to sell?
One of the most important factors when deciding what product you would like to sell in your vending machines comes for the initial budget within your business strategy. Depending on available cash flow, companies have to decide what price range of products they are able to sell. Generally speaking, more expensive products, such as electronics will sell at a slower rate with the potential for higher profits.
The location of the vending machine is another crucial factor to consider when choosing a vending machine product. Considering other businesses nearby and potential competition for the consumer’s money is important. Stores or other vending machines with similar products can be a good sign because it shows that the market is there for your product, however you must be sure that your prices are at a competitive rate in comparison to the competition.
Considering current consumer trends is also extremely important. For example, vending machines in schools were able to carry candy and other unhealthy snacks 10 to 15 years ago, but with a push towards healthy eating and encouraging a healthy lifestyle, vending machines are geared towards providing students snacks that fit into this cultural shift. With more and more people becoming members at gyms and fitness centres, vending machines are popping up in many facilities with protein snacks and energy drinks that appeal to their clients.
Maintenance capabilities are also important when considering what types of products to sell in your vending machine. If your products require a certain environment to ensure they do not spoil, your machine must be capable of creating the right temperature and you should also have the ability to check this regularly. Many produce products such as lettuce, cucumber and other vegetable and dairy products are sold in vending machines in Japan and China. These products do not keep for long and require someone to restock very often compared to a vending machine that sells magazines or headphones. Consider the additional effort that time sensitive and environment sensitive products will require.
Regional Vending provides the GTA area, and beyond with exceptional vending service with machine placement, stocking, and maintenance. If you are interested in getting a vending machine for your clients, customers, staff or visitors, contact Regional Vending today for further information.