Vending industry is on the brink of transformation! Thanks to the advent of innovative and advanced technologies, the traditional vending experience has changed dramatically in the past couple of years.
Micro-Markets - A Groundbreaking Technology
Among some of the prominent paradigm shifts in the vending industry - micro markets are considered groundbreaking! According to a study, it is believed that a majority of business owners who are expanding into new avenues are investing significantly in the micro markets.
The new-age micro markets are capturing the vending industry, steadily increasing their revenue share. The question here is why is the adoption of micro market growing so fast and what makes them so profitable? Here, we have tried to analyse various factors that have resulted in the growth of micro markets:
A Shift Towards Healthy Eating Habits
One of the reasons behind a surge in micro markets is due to a shift in eating habits. Of late, eat healthily- live healthy has become the new Mantra. People, these days, are ditching sodas or chips and picking up food rich with nutritional content. Unlike the traditional vending machine, micro markets offer unlimited access to healthier and nutrient-rich snacks therefore, they appeal to changing customer preferences.
Enhanced Security - Lesser Thefts
In contrast to a conventional vending machine, the products in micro markets aren’t placed behind locked doors, making many business owners apprehensive about potential thefts! However, it is seen that theft instances in the micro market have proved much lower than one may imagine. In various surveys, a majority of businesses having self-serving kiosks reported a shrinkage in the theft. Since most of the micro markets exist in a controlled access location like an office break-room - where just anyone cannot walk in. Besides, the micro market kiosks are equipped with prominent security measures like a front-facing camera, and a well placed external security camera plays a crucial role in deterring theft.
Advanced Technology = Improved Customer Experience
Since most self-serving kiosks are equipped with an effective inventory management system, businesses can take their profitability to the next level. With advanced kiosks, you can acquire a detailed sales report, analytics and even get product recommendations that help make a well-informed decision. As a business, you can pull out the slow sellers and replace it the top-sellers to increase sales and provide an unbeatable customer experience.
For further information on micro markets in Australia, feel free to call our experts!