Vending machines are first released by Percival Everett in 1883 and since then, the convenience and user experience it offers to many consumers is superb. And even if the first vending machine by Everett only produce postcards, it served as a starting point to many businessmen how selling goods can be easier and more attainable than ever. And thanks to innovation and technology, vending machines today are smarter than ever. From cashless payments to tailored product offerings, these machines are revolutionizing the vending industry! And let’s know more about why.
What are Smart Vending Machines?
Smart Vending Machines are equipped with advanced technologies such as artificial intelligence, machine learning, and the Internet of Things (IoT) that enable them to offer a range of services beyond just dispensing products. As a matter of fact, according to Velocity Smart, these vending machines are full of a variety of technologies that allow them to perform optimum advanced functions. Here are some of them:
- Sensors
- Internet Connection
- Payment Systems
- Data Analysis
- Artificial Intelligence
- Internet Connection
So if we look back to the 1880s, we bet Percival Everett is shocked at how his brilliant idea can bring more to the table than he imagined. To make matters more interesting, as technology continues to advance, we can expect to see even more exciting developments in the world of smart vending machines!
Benefits of Smart Vending Machines
We can all agree that smart vending machines are armed with cutting-edge technology and offer a host of benefits over traditional vending machines. But what are they, really?
- Real-time monitoring
Real-time monitoring allows vending machine providers to keep track of inventory levels, sales, and other important metrics. This helps providers ensure that the vending machines are always stocked with fresh products, and customers are never left unsatisfied.
Plus, with real-time monitoring, owners can detect and fix any technical issues immediately.
So, say goodbye to traditional maintenance providers because smart vending machines are armed with fast resolutions and proactive care to keep them up and running 24/7!
- Payment control
With so many available contactless, online, and mobile payment apps today, it’s easy to see why the vending industry has come to the conclusion to take advantage of them and empower the vending machines more. Payment controls, aside from being able to count cash and do laidback inventories, also reduce the risk of fraud and adjust the pricing accordingly. As a result, owners can increase their revenue, improved customer satisfaction, and perform an efficient and more secure way to run smart vending machines.
- Advanced use cases such as climate control
Food, drinks, cigarettes, flowers, and even surgical products are now accessible with smart vending machines! And with advanced use cases like climate control, customers can now purchase products that require specific temperature or humidity levels, such as perishable foods, cosmetics, medicines, and electronics with ease.
What’s more, these vending machines can change the temperature and humidity levels as required to preserve the quality of the products. Moreover, because of out-of-this-world use cases, vending machines are now able to sell delicate items that are easy to spoil and be a waste. In this context, lost revenue and squandered inventory are just minimal risks.
- Enhanced user experience because of AI
AI technology allows the machine to analyze user data, such as purchase history and preferences, and make recommendations based on that information. This means users are more likely to find products they actually want and will enjoy, instead of just randomly selecting items from the machine.
Now, you may think that this is impossible because vending machines are usually placed in public areas where customers come and go. But, if you were to place smart vending machines in hospitals, workplaces, schools, and other locations where repetitive customers are more likely, machines equipped with AI technology are sure to catch the public’s eye!
Furthermore, AI is perfect to optimize inventory management. The technology can automatically reorder products when stock levels run low, reducing the chances of a customer encountering an out-of-stock product.
- Improved marketing tactics like machines with promotional screens on top
Promotional screens are those you see as display advertisements, videos, and other forms of media. It’s a great way to grab the attention of potential customers and get your message across in a visually engaging way.
As stated in a study, visual aids are 60,000 times faster to process than text. Meaning, promoting your brand or products through graphics, images, and illustrations surely allures customers to purchase. This is particularly true if the smart vending machine is placed in high-traffic areas like airports, shopping malls, and office buildings.
Why get a smart vending machine today?
Well, the aim of this article is to show you how a smart vending machine offers more convenience and enhances user experience than a traditional one. But aside from that, (the most important thing, if you may ask) smart vending machines are environmentally friendly. Why? These machines are known for their touchscreen displays, cashless payments, and real-time product monitoring. With all these benefits combined, no products are overstocked, safer and more efficient payment systems are promoted, and digital advertisements are fostered.
So why wait? Get a smart vending machine today and start reaping the benefits!
Final thoughts
In 2028, the vending industry is expected to grow at a whopping 9.4%. This fact is a living testament to how we are now living in a technologically advanced and innovative world where even vending machines that offer convenience before, can offer more! They are also highly customizable, allowing businesses to tailor their offerings to meet the specific needs of their customers. With technology advancing rapidly, smart vending machines are sure to become even more advanced in the years to come.
