Key Insights from AVA’s Vending Expo 2018
Posted 1 August 2018, Australia
For two days, Melbourne was the home for vending professionals and suppliers from all over Australia to gather at the Australian Vending Association’s Vending Expo 2018.
Held every two years, this year’s show highlighted what is new in the vending industry. Below are three key insights from the event.
Micro Markets are definitely on the rise.
A micro market is defined as a small, unmanned store which sells products on shelves and has a checkout system installed nearby.
Micro markets and vending machines are both self service stations but how are they different from one another? With vending machines, payment is required before the vending machine dispenses the goods while with a micro market, it follows the ‘honour system’ where people select the goods they want to purchase from display shelves or refrigerators and they are expected to pay for them at a self service payment station even if no one is monitoring it.
The Vending Expo saw a number of providers with a micro market offering in their product range. Whilst some people can argue that there are risks involved in micro markets given that it follows the ‘honour system’, statistics show that micro markets attract 18% more visitors per day compared to a traditional vending machine. A micro market also gives the operator the opportunity to provide an enhanced customer experience because of the flexibility of the layout and the products being sold.
It was evident at the Vending Expo that this is a growth market so watch this space!
‘How to go cashless’ is the new ‘Why go cashless’
Gone are the days where vending operators are asking why they should go cashless. It was clear at the event that vending operators are fully aware that they need to go cashless because consumer behaviour has changed. They are aware of its benefits, which includes reducing risks of theft, eliminating the administration burden and revenue maximisation. The questions now revolve around the details. How do they move to cashless? What are their options and what is best suited to their vending business?
ADVAM and USAT’s partnership on delivering a fully automated, EMV certified, cashless payment gateway and vending management solution to the Australian vending market was announced last week. ADVAM and USAT did not disappoint the visitors in providing answers to their question of how to go cashless by showcasing their combined Seed device and the ADVAM UnattendedPayments solution at the event.
There is always room for improvement
The world today continuously innovates. It changes all the time with new technology rising each year. The vending industry is no exception to this. It should continuously adapt to the changing global behaviour of consumers and be open to innovations as there will always be room for improvement in any type of business. This ensures that a vending business does not get left behind.
The Vending Expo 2018 provided a platform for suppliers and the vending professionals to meet in one place to discuss the latest developments in the vending industry.
There is a lot of technology available for the vending industry from moving to cashless payments, telemetry to smart vending machines. It is important that a vending operator chooses a supplier that can provide innovative solutions that are secure, flexible, scalable and more importantly, a supplier whose team you trust.
Interested in having a chat about the latest innovations in the vending industry? Contact our team today.