According to TechNavio data, the ratio of vending machines (VEMs) and convenience stores in the United States is 30:1. The expected compound growth rate of US vending machines is higher than 54.3% in 2014-2018, and the US vending machine market will reach 13.34 billion in 2021. Dollar.

According to the China Chain Store & Franchise Association, the number of domestic convenience stores is about 90,000. For the US, the number of domestic vending machines should be 2.7 million. At present, the domestic vending machines are only less than 200,000 (and the benchmark is 75:1, which is 2.3 times higher). Although the domestic vending machine CAGR is higher than 100% from 2011 to 2015, the vending machine market is far from saturated.

 

In response to this far-saturated 100 billion vending machine business, we have done the following:

(1) Domestic manpower and rent growth

According to data released by Deloitte, China's labor costs have increased five-fold in the past 10 years. In 2016, Chinese employees' salary increased by 8%, ranking first in the world, much higher than the world average of 2.5%. In addition, China's overall rents increased by 7%. The rise in labor and rental costs in China has reduced the profitability of physical stores.

The pressure on rent and labor costs, coupled with the turning point in per capita income, is precisely the opportunity for the domestic, unmanned, small-area vending business to break out.

(2) Technology-driven good interactive experience: NFC, non-cash payment, and mobile devices

According to the Technavio market research, global vending machines will have a CAGR of more than 38% by 2021, with the main drivers: non-cash payment technology, mobile devices and the popularity of NFC technology, making it easier for consumers to interact with vending machines. In addition, payment security is also a contributing factor.

For China, the 2013 vending machine introduced mobile payment technology. In 2015, the vending machine channel opened the Internet+ era. At present, domestic vending machines basically realize access to payment platforms such as WeChat and Alipay. Consumers can complete self-service transactions with a few simple steps on their mobile devices.

 

In addition, vending machines are gradually equipped with LBS functionality, allowing consumers to locate nearby vending machines based on location. Merchants can monitor machine inventory for instant replenishment via the Internet system and conduct preference analysis for consumers to further optimize the consumer experience.

CONTACT US

If possible, kindly suggest please your detailed product requirements, purchase quantity and delivery port or address etc. Given detailed request helps to gain better-matched customized solution. Thanks for your patience.

Your request will be responsed within 24 hours, kindly pay attention to your email please.

vacuum furnace vacuum pump,vacuum furnaces vacuum pump vacuum pump Grinding Machine, Cnc Lathe, Sawing Machine