There are over 5 million vending machines operating in the United States and they earn annual revenue of $7 billion in a year. This shows that starting a vending machine business can be pretty lucrative. However, there are some factors that influence the sales from your vending machine. You need to consider them if you thinking of starting a vending machine business.
Here are some factors that can influence your sales:
Healthy Food Machines
About 49% of vending machine users said they would buy forms a vending machine that offers healthy food options. This confirms the fact that people are becoming more health conscious and now prefer to buy nutritious food rather than junk food.
This means that people who buy vending machines that dispense wholesome foods can expect good profits.
A vending machine needs to be in a convenient location. For example, employees are more likely to use vending machines in areas where restaurants are few and far between. In contrast, a vending machine that is in an area that is sparsely populated or does not have much human traffic will naturally have less sales.
Gone are the days when people used to place coins in vending machine. Nowadays, society has mostly gone cashless. With the threat of pandemic, cashless payments have now become a norm. That’s why, if your vending machine allows card payment options, people will use it more.
Moreover, your vending machine will see even more sales if it also offers mobile based cashless solutions.
Gaining insight into customer preferences can also help you provide them the right product at the right time. For example, if you have vending machines at multiple locations, the users in one location may require more fruit juice on Tuesday and the users in another location may be more active during night.
By making sure you have the right product mix at the right time for your users, you can impact sales.
Nothing hurts sales more than vending machines that are low on stock. It is extremely important that you ensure your vending machines are fully stocked at all times of the day.
Digital Media Vending international LLC offers vending machines that come with a touchscreen that can help you take stock of your inventory with the press of a button so that you can always restock your supplies in time. They also offer a cloud-based inventory management service that allows remote monitoring of inventory and vending machine health.
Going to a dirty and ill-maintained vending machine can be a huge turn off for customers as it can give the impression that the stock has not been replenished in a long time, resulting in expired products, and also that the machine may swallow their money without dispensing the product they need. Additionally, a vending machine that suddenly stops working will result in lost sales.
That is why it is important to keep your vending machine clean and maintained regularly.
Many customers feel nervous when using vending machines if it does not have a customer support system. Therefore, a lot of people would rather go to a physical outlet far away than buy from a vending machine nearby.
An online support system can help users take their concerns to the vending machine operator so they can be fixed as soon as possible. This can facilitate your vending machine sales.
If you follow these simple tips, there is no reason your vending machine business wouldn’t result in big sales.
To look into options on what type of vending machine is right for your business, check out Digital Media Vending.