The vending machine industry is undergoing a major transformation. Selfly Store’s intelligent vending solutions are not just about technology but about significantly boosting revenue for merchants. In this comprehensive blog, we'll explore how Selfly Store outperforms traditional vending machines, the substantial revenue opportunities it presents, and the unique features and benefits of the Selfly Store models.
The vending machine industry dates back to the first century in Egypt when coin-based machines dispensed holy water at temples. Over the centuries, vending machines have evolved to sell newspapers, stamps, cigarettes, and chewing gum. Today, the industry stands on the verge of disruption with the advent of intelligent vending solutions. Selfly Store, leveraging RFID technology and cloud connectivity, is at the forefront of this revolution, enhancing the shopping experience and significantly increasing revenue for merchants.
Data from the European Vending Association (EVA) shows that the average revenue for a traditional vending machine is around € 450 and the average basket size is around € 2. In stark contrast, Selfly Store machines outperform these averages significantly. The Selfly Store Model 3 earns close to € 1000 per month with a basket size reaching € 4,9 during 2024, well over double the traditional average basket size. Additionally, nearly 4% of Selfly Store cabinets generate over € 3000 per month, a significant increase from the previous year. The cabinets in that range have an average basket value over € 7, implying that selling more expensive items, like fresh food, or offering combo deals (e.g. buy a salad and get the drink for half the price) can quickly boost the revenue of the vending business.
Moreover, according to customers who are operating both traditional vending machines, and Selfly Store machines in hotel settings, the Selfly Store machines achieve 3-4 times more sales than traditional vending machines placed side by side. This remarkable performance underscores the revenue potential of Selfly Store.
From the Selfly Store machine fleet, the Selfly Store Model 3 is a clear revenue leader, averaging close to € 1000 per month compared to Model 2’s with close to € 700. Recent data from the first half of the year show a year-over-year revenue increase for all Selfly Store cabinets of 26% between 2023 and 2024. This can be compared to 11% between 2022 to 2023. While inflation has played a role in the overall economic environment, the substantial revenue growth for Selfly Store merchants is largely driven by the advanced features and strategic advantages of the Selfly Store solution. These features, such as dynamic pricing, flexible product assortments, and enhanced customer engagement, have proven instrumental in maximizing revenue potential beyond inflationary effects.
Individual months, for example April 2024 compared to April 2023, demonstrates Selfly Store revenue increases of up to 41%, which is a testament of robust performance and growth potential for merchants using Selfly Store’s intelligent vending machines.
The comparison of year-over-year growth between the first half of 2023 and 2024 reveals a clear trend: the increase in average cabinet revenue consistently outpaced the growth in the number of transactions per cabinet. On average, the revenue grew 26% and the average number of cabinet transactions grew by 21%. This indicates that while the number of transactions per cabinet is growing, the revenue per cabinet is increasing at a higher rate. This can be attributed to factors such as larger basket sizes, price adjustments, and possibly a shift towards higher-priced or premium products in the vending machines. Overall, the higher growth in cabinet revenue compared to transaction growth suggests that strategies focusing on increasing the value per transaction have been effective in driving greater overall revenue.
Adopting Selfly Store offers merchants lucrative opportunities to tap into new revenue streams and enhance their service offerings. By strategically placing Selfly Store cabinets in high-traffic areas, merchants can significantly boost their sales and meet the demands of modern consumers. Contact us to learn more about how Selfly Store can transform your business.
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