Written by Matilda Howard, Marketing Specialist
Matilda Howard is a seasoned marketing professional with a passion for brand storytelling and consumer engagement. Focused on driving digital innovation and brand growth for clients she enjoys sharing her knowledge with the wider community online.
Since the first snack dispensers landed on our high streets, the world of vending machines has been constantly changing.
From an ever-increasing array of gum, candy, and even household products to the mechanisms that power the smart vending machines themselves, innovation has fuelled success and led to the $28 billion valuation expected by 2023. But it’s far from finished.
With a slew of new technology heading our way and plenty of futuristic ideas changing the market, vending machine growth isn’t slowing down any time soon.
As an operator, it’s important you keep up with innovation so that your vending machines aren’t left in the dark ages. With that in mind, what can you expect from the next few years?
Let’s take a look at some of the new inventions you can take advantage of straight away as well as some future tools to keep in mind.
Vending machine contactless payment technology
An innovation that’s taken the vending machine industry by storm is contactless payment technology. These machines are all about convenience, allowing passers-by to enjoy a quick snack on the go or pick up an item they need, like hand sanitiser.
With contactless payments, that’s made simpler than ever, letting customers tap and go without the fuss of entering their PIN.
By installing a contactless card reader in your machine, customers have the choice of tapping their contactless card or using a digital wallet, like Apple Pay or Google Pay.
They can still enter their card, too, but it gives your customers greater payment flexibility so that they can opt for the method that suits them best.
Use data to drive engagement
Data is becoming a driving force for business decisions across industries. One of the main perks of vending machines is that data is driving engagement.
From where you place your machines to what products you stock, data and informative insights can help you make decisions backed by real-world evidence.
Existing data from research companies, for example, might show you that customers tend to spend more if a vending machine is located on the train platform rather than by the ticket office. Your own data alongside this can show you which products are best-sellers to help you better cater to your audience.
Are you ready for crypto?
Did you know that over 20% of American adults own cryptocurrency? In the past decade, crypto has taken off, seeing enthusiasm from younger generations in particular and causing a stir in the stock market.
For your vending machines, it’s something to keep an eye on. Being proactive about a new currency could give you a competitive edge as the technology continues to grow and help you get ahead of the curve.
If you’re striving to create a contemporary, smart brand image, making your machines crypto-compatible certainly wouldn’t hurt, either, and could bring you a lot of attention.
Advertise using HD video displays
Video displays aren’t new but they’re still not widespread throughout the vending machine industry. In our opinion, though, operators are missing a trick.
By installing HD screens onto your vending machines, you can engage a digitally-focused audience and ensure each of your units stands out, no matter where they’re placed. Entice customers in with bright, colourful advertising for the products inside, too.
But video displays can go beyond your own marketing. You’re also able to use the space on your machine to advertise other companies, earning revenue from them as you continue to sell your products.
A prime example of a company doing this well is Olyns. Partnered with Screenverse, they have 55-inch HD screens on the fronts of their recycling units which are then placed in high-traffic areas. Retailers nearby can use the screens to advertise their own brand, earning Olyns a tidy profit.
While your vending machine might not fit a 55-inch screen, you can take the same strategy and make it work for your units.
What about robot chefs?
Looking towards the future of vending machines, we expect to see a rise in robot chefs. It might sound like a wild idea, but it has plenty of practical uses and can offer your audience a new culinary experience.
Robot chefs can prepare easy meals, like toasties, so that they’re fresh and hot for your waiting customers. Give your hungry audience the chance to personalise their order, too, and make the experience a fun, interactive way to order food on the move.
There are brands already pioneering this robotic future. RoboBurger, for example, is taking its US audience by storm with robot-prepared burgers delivered straight from a vending machine. A variety of patty options – including a plant-based burger – can be selected by the customer. The robots inside then choose the right patty, grill it, and prepare a piping hot burger in less than 4 minutes, marking a new age in fast food.
In the UK, Pizza Rebellion has a similar business model, but with pizza. Also taking just 4 minutes, their robot chefs prepare and heat an entire pizza before serving it in a pizza box to the waiting customer.
Innovative, futuristic, and catering to a new market of people looking for faster fast food, could this be the future of dining out?
Final words
In any industry, it’s important not only to keep up with innovation but to get ahead of it, too. As an operator, there’s plenty of new technology out there that can make your machines more convenient and better suited to your audience.
The end result is a happier customer base, a future-proof business, and an increase in your revenue. What’s not to love?
Follow me on LinkedIn for more info!
Read more from Matilda Howard
Matilda Howard, Marketing Specialist
Matilda Howard is a recognised leader in marketing, a seasoned professional who is passionate about driving digital innovation and growth for global brands. Matilda leads initiatives across a range of digital marketing disciplines, content creation, and brand management. She's passionate about blending creativity with data-driven insights to achieve impactful results for clients.
