Bird Eye’s View of Vending Industry

Vending is a very huge industry that is generating annual revenue of about $6 billion. Maximum contribution of approximately 50% to this industry comes from the top 50 companies.

How is this possible? Customer purchasing power and dependency on vending machine has risen in the past few years which in turn have stimulated growth of this industry. Candy, snacks, beverages, ice creams, cigarettes, chocolate, gum balls, nuts and nutritional bars are some of the most commonly sold products. Besides these regular items, there are companies that offer bulk vending items, candies and capsules containing novelty items.

Of the total products sold beverages form the major chunk (40%) while candy bars and snacks comprise 30%. Other products sold include meals, ice creams and cigarettes. When it comes to bulk vending machines, they are used to dispense candies, nuts and other novelty items.

With a view to earn huge returns, most operators manage multiple vending machines in multiple locations knows as route. It may be surprising to know that three fourths of vending operators make less than a million annually. Vending machines vary by the products you vend. For instance cold vending machines can dispense items that require refrigeration. Glass front machines from Planet Antares on the other hand can accommodate different kinds of products and also allow customers to view the products they are about to purchase. These machines typically accept payments by cash or bill.

Whichever product and machine you choose, location becomes vital. There are several operators renting space in prime localities with high customer traffic. Vending machines are also found in retail stores, hospitals, bus and railway stations and schools. Technological advancement and increasing demand is making this business grow stronger day by day.

Some of the latest technological inventions have made it possible to improve the speed, accuracy and quality of services offered by vending machines. With the help of internet and remote monitoring systems, operators are able to identify product shortages, machine malfunctioning well in advance. This helps in providing uninterrupted customer services.