Web connectivity can cut vending operators’ logistics costs, allowing them to track inventory online and centralize decisions about when to restock and what to put in each machine, rather than sending trucks to check each one.
Machines that accept electronic payments can lift sales 25 percent to 30 percent.
The vending industry has had to respond to the change in consumer preferences in order to remain relevant and profitable.
Networking allows instant price changes.
FACTS FROM OLGA KHARIF ARTICLE
“VENDING MACHINES GET SMART TO ACCOMMODATE THE CASHLESS”
12,000,500 contactless enabled cards
in the Canadian market
Canadians are moving away from cash as a preferred form of payment. There is a trend towards cashless payment for smaller-ticket items. A desire to tap into loyalty programs by accumulating points is perhaps driving this behavior.
The average amount of transactions was more than $0.50 higher when using cashless payments.
The average cash payment transaction was $1.16 while cashless payments were an average of $1.71. That’s a 47 per cent increase per transaction.
FACTS FROM MICHELLE BRISEBOIS ARTICLE
“CASHLESS BY CHOICE”
More Toronto businesses are taking the leap and no longer accepting coins and bills as fewer and fewer customers seem to be carrying cold hard cash.
“Going cashless is not only the way of the future, it’s also becoming a great way for businesses to save money.”
Malcolm Fowler, Chief product and partnership officer with Moneris
Moneris predicts that by 2030, 90 per cent of their business transactions will be electronic as people get more and more used to going cashless for all their daily transactions.
FACTS FROM PHILIP LEE-SHANOK ARTICLE
“GOING CASHLESS CATCHING ON IN TORONTO’S TRENDY EATERIES”
Healthy Isn’t Just A Trend
OF CONSUMERS CLAIM THAT NUTRITIONAL VALUE IS THE MOST IMPORTANT FACTOR IN THE FOODS THEY EAT.
Manufacturers are offering great-tasting lines of snack mixes, bars, teas and waters.
Many companies, such as Pepsi®, are changing their product to fit these shifting consumer preferences.
Health concerns are at the forefront of these changes, and have had perhaps the greatest impact on new and emerging trends in the food and beverage industry.