Hunan Xingyuan Technology Co.,Ltd.
Hunan Xingyuan Technology Co.,Ltd.

Is the Business of Vending Machines Profitable?

New retail is a hot topic currently, some people think that no convenience is new retail; Some people believe that online and offline omnichannel service is the new retail; Others consider that new retail relies on big data based on artificial intelligence. New retail has become an irreversible development trend in the future. The unmanned model is inevitable, and vending machine is the future trend. It has been hailed as the most profitable vehicle in the next five years.

Someone may ask: Can vending machines make money? As "new retail" sweeps the whole country, vending machines have had their big moment. In just two years, vending machines have become popular among many players, from nobody to popular. Experts predict that vending industry's explosive growth turning point has arrived.

Ⅰ. Vending machines have the advantages of big data and convenience of unmanned stores

(1) Low cost

Vending machines occupy a small area and do not need to consider labor costs. What differs them from Jack Ma's unmanned supermarket which needs dozens of staff to maintain order and tally is that they do not need a clerk, the vending machine does not need an assistant, consumers are completely self-service to purchase goods, simple and convenient purchase and payment is fully meet the needs of the consumers.

(2) High anti-theft performance

Vending machines, which pay first and pick up later, will not affect consumers' purchasing experience, but also provide protection for merchants.

(3) Faster layout and a wider range

The vending machine occupies a small area and can be placed flexibly and quickly seize business opportunities. It is a great advantage for enterprises who want to quickly occupy the entrance. Unmanned stores, on the other hand, still need to be carefully selected. The appropriate location and size of the store are factors that have to be considered.

Ⅱ. Abilities that vending machine dealers should be equipped with

(1) The ability to read data

With the continuous upgrading of system technology, the future of vending industry must belong to a new generation of digital intelligent models. Vending machine dealers must not only read and understand data, but also learn how to use data to operate efficiently. On the basis of in-depth analysis and understanding of retail business, dealers need to develop their ability to refine data, including marketing data, commodity data, channel data, supply chain data, etc. In addition, retail digitalization will be accompanied by the transformation of the existing organizational structure and business process, and will definitely involve the adjustment of interest relations. The top decision maker needs to personally promote the implementation to ensure that the digitalization process is not distorted and out of shape.

(2) Commodity organization ability

The vending industry began to move towards professional management and fine management, requiring excellence in every link of commodity organization. It should go through several process including selection, replenishment, updating, inventory, single product management. Vending machine dealers need to make appropriate decisions through accurate data analysis, which is directly related to the operation efficiency of vending machines. Efficiency is money, and all business will be based on efficiency in the future.

(3) Marketing ability

Faced with the new era of consumer sovereignty, the previous marketing models of enterprises dealing with the era of product sovereignty and channel sovereignty are basically ineffective. The consumer-centered marketing model needs to be restructured. No matter promotion, lottery, or rebate, all marketing activities should be based on the premise of meeting the personalized consumer needs of the new generation of consumers, which is undoubtedly a big test to dealers' marketing ability. Engage in marketing, who can win the heart of the users will be the one that can seize the future opportunity.