Update on Cashless Vending
Even though the cashless payment option in vending is still relatively new, it has gained a lot of popularity. Vending machine consumers have grown accustomed to using credit or debit cards to make vending machine purchases. In the future more and more vending operators will invest in this new payment media so that they can make their vending business more profitable. As a
Planet Antares vending operator, you are already aware about the benefits of installing debit and credit card readers in your vending machines. Other operators have also seen the profit potential that cashless vending possesses. You can also decide to incorporate this technology in your vending machines so that you can maximize your profits.
Recent consumer reviews have shown that Americans are now more eager than ever to cut down on their dependence on cash for small purchases. This is what makes it such a good investment for your Planet Antares vending business.
Cashless technology has increased vending machine sales tenfold. If you have a Planet Antares vending machine in a family oriented location, such as zoos or amusement parks, the vending machines will appeal to families because they would be able to make multiple vending machine purchases in one transaction. Highway rest stops are also great locations for credit card and debit card readers in vending machine. A large number of commuters and local families frequent these stops.
Numerous studies have shown that consumers spend an average of 32% more when they make their payments with credit or debit cards. At educational institutes, cashless payment options increased vending machine sales by over 30%. Entertainment venues with cashless vending machines saw an increment of 23.4% in sales. These few examples support the benefits of cashless payment in vending machines. If you are interested in having this technology in your Planet Antares vending machine, you just need to make sure that you place the vending machines in the right locations.
The people who stand to benefit from this technology are vending machine operators, vending machine manufacturers and credit card issuers. This has made them all team up. The vending industry and credit card companies are attempting to make electronic payment fees more transparent to consumers and vending operators. This is something that will encourage vending operators to install credit card readers in their vending machines. Installing a new form of payment option to vending machines will definitely encourage sales by increasing consumer convenience.
Customer Perceptions of Vending
A recent study revealed that the vending industry is losing many potential customers due to lack of consumer education. The reason for this study was to determine vending machine consumer motives for purchase decisions.
This study also examined potential areas to expand vending machine use and the general public’s awareness of new vending machine technology and products. As a
Planet Antares vending operator, you need to make sure that the consumers that use your vending machines are well informed about the products that you vend as well as any technology that you may have decided to incorporate in your vending business. The recent study that was conducted came up with new findings regarding consumer perceptions on vending, which are listed below.
• Motivation for vending machine purchases. Consumers stated that they buy from vending machines, mainly because of convenience and ease.
• Consumers are reluctant to make vending machine purchases mainly because of poor selection and the misconception that vending machines usually do not offer healthy options. If you have a Planet Antares snack and beverage vending machine, you need to make sure that you have the right product selection to suit the location.
• Brand recognition plays a big role in the success of your sales. Consumers expressed high brand loyalty. Consumers usually make purchases of familiar items from vending machines. Planet Antares vending machines are glass front vending machine, so a branded item would highly be visible.
• A majority of vending machine consumers are unaware of new vending machine technology. Cashless payment options appeal to the public since it makes the whole buying process more convenient. Many vending consumers are also not aware that there is a new technology that ensures product delivery.
Potential vending machine consumers are reluctant to make vending machine purchase because they believe that vending machines do not offer healthy products and that the general prices of vending machine products are on the higher side. These are all misconceptions that need to be set straight. Consumers need to understand that they can find health products in Planet Antares vending machines and that a good vending operator will not sell the snacks and beverages at higher prices than the retail market. Once consumers are aware of all this, you will find your consumer base expanding. Consumer education on vending can indeed improve vending machine consumer confidence.
Telemetry Improves a Vending Service
New technology is today making vending more professional. New technology requires high investment and since the market is more competitive, it might only be the large operators that will take the lead in introducing different forms of technology in their vending business. On the other hand, the small operators that have lower overhead might be the ones that will recognize the benefits of technology and thus decide to take the lead in using it. Only time will tell.
If you decide to use remote machine monitoring and other service enhancing technologies in your Planet Antares vending business, you will end up improving your customer service and profitability. It will be very possible to see a double digit growth every year. Introducing these new customer conveniences and operating system efficiencies in your Planet Antares vending operation will mean that you are a progressive vending operator. It is believed by many that customer service is the foundation of a successful vending business.
Technology is a tool that will allow you to service your Planet Antares vending locations more efficiently and at the same time provide customers with the products that they would want.
Planet Antares vending machines that are equipped with telemetry can transmit sales and inventory data to a route truck that is in the parking lot. This will allow you to know which snacks and beverages you should bring in for restocking. The data can also be transmitted to a remote headquarters for use in scheduling a route stop, detecting component failure or even verifying collection information. Telemetry is seen by many as one of the most significant developments in vending technology since the invention of the bill changer. The advent of reliable, affordable wireless technology has made telemetry useful and at the same time has provided a medium through which cashless payments can be authenticated.
The challenge for telemetry in vending lies with meeting the needs of vending machine manufacturers, operators and location managers. Unknown stock levels and machine status restrict sales during down time. Lack of information can easily result in both over and under maintenance. This results in inefficient operations, logistics and route planning.
Remote monitoring eliminates the need for dynamic scheduling by determining a route’s delivery needs based in historic sales. All in all, telemetry will improve a vending service by detecting product shortages, mechanical failures and insufficient change. Technology will change the vending industry in a positive way and an independent vending operator will clearly be a part of it.
