This article was first published on Blog – Civic Technologies, Inc.
Today’s modern retail customers expect convenience above all else. According to research in Forbes, Millennials and Gen-Z consumers have different expectations of the retail industry.
“Driven by technology and an on-demand culture, younger generations of consumers have grown up with media and services that are available at the push of a button, anytime and anyplace.”
Shoppers will always opt for more efficient and convenient ways of getting what they want when they want it.
Enter the vending machine. No longer is the vending machine method of delivery limited to soda, snacks, or even pizza. Vending machines are taking convenience to the next level with machines that dispense an array of items at the push of a button. Berg Insight, a market research firm based in Sweden, forecasts the number of connected vending machines worldwide will grow at a compound annual growth rate (CAGR) of 16.2%, from 2.6 million units in 2017 to 5.4 million units by 2022. The smarter the machine, the more diverse and high margin items it can carry.
The rapid growth of the vending machines market is not surprising when you consider how retail trends are evolving to meet consumer demands. Here’s what you need to know about top trends that are ushering in the vending machine revolution.
Vending machines are offering more options than ever before
Pizza is just the tip of the iceberg when it comes to what can be purchased from a vending machine. The vending machine market has extended into non-traditional categories in the last couple of years, transforming the automated retail market.
Around the world, there are machines that spit out electronic products, hair extensions, books, artwork, and even live pet crabs. Plus, vending machines, like other consumer technology, have gotten really smart. The computing power ...
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Blog – Civic Technologies, Inc.