In the previous blog post, we discussed the challenges traditional vending machine operators are facing and the need for the vending industry to adapt and evolve. This article will explore smart vending solutions, focusing on their benefits and how they are transforming the vending landscape.
A new era of smart vending
Smart vending machines are designed to leverage the latest technology advancements to improve customer experience, increase revenue, streamline operations, and contribute to sustainability. These machines offer a variety of features which help overcome the challenges faced by traditional vending machines.
Wide assortment
Smart vending machines, such as Selfly Store cabinets, allow for a wider variety of products to be offered, as they are not limited by dispense slots or concerns about product durability during dispensing. Moreover, the assortment can be changed at any time, requiring a minimal effort for the operator. This flexibility enables operators to cater to the ever-changing needs and preferences of consumers, leading to increased customer satisfaction and higher sales.
Enhanced customer experience
Smart vending machines are designed to provide an intuitive and seamless shopping experience. The visually appealing product displays and the ability to touch and feel products before purchasing significantly enhance the customer experience, encouraging consumers to purchase several products in one go. Data from Selfly Store’s smart vending machines reveal that customers can effortlessly obtain what they need within seconds, with an average of 1.4 items purchased per transaction. In contrast, traditional dispense slot vending machines see a lower average of just one item per transaction. This exemplifies the efficiency and convenience of grab-and-go shopping through intelligent vending solutions.
Efficient payment and dynamic pricing
Modern smart vending machines support contactless payment methods, such as card and mobile payments, making transactions more convenient for consumers. Additionally, dynamic pricing can be implemented remotely, allowing for automatic discounts on expiring items or during promotional periods, which helps reduce waste and increase revenue.
Increased revenue
Smart vending machines, like Selfly Store cabinets, have an average basket size of 1.4 items per transaction and a revenue of 5.07 €/transaction, demonstrating the potential for growth compared to traditional vending machines that average just 1.7 €/transaction. The improved customer experience and wide assortment contribute to increased sales, providing vending operators with new revenue streams and long-term profitability.
Data-driven insights and remote monitoring
Smart vending solutions collect valuable data on sales, inventory levels, and customer preferences. This data can be used to optimize inventory, plan replenishment more effectively, and make better-informed decisions about product offerings. Remote monitoring capabilities also eliminate the need for site visits to check machine functionality, saving time and resources.
Sustainability
By offering more sustainable product options, using energy-efficient designs, and minimizing waste through dynamic pricing and better inventory management, smart vending machines contribute to an environmentally friendly vending operation. The ability to use sustainable packaging of various sizes allows operators to select the most eco-friendly solution available without being limited by the size or weight of the product.
Conclusion
The future of vending lies in smart
solutions that leverage technology to overcome the limitations of traditional
vending machines. By adopting these innovative systems, vending operators can
stay competitive in a rapidly changing landscape, cater to evolving consumer
needs, and tap into new revenue streams. As the vending industry continues to
transform, embracing intelligent vending solutions will be essential for
long-term success and growth.