According to a research from Kantar Retail, when China’s GDP per capita reaches 10,000 USD, the demand for vending machines will explode. Eve Cheng expands for VI readers…
Currently, sales through vending machines only account for a very small percentage in China’s retail market, which means that there is still an enormous gap in the market that is needed to be filled. Kantar Retails believes that China’s vending machine market will witness exponential growth in the next five years, and vending machines will become a major distribution channel for fast moving consumer goods.
In America, the ratio of vending machines to convenience stores is 30:1. It has been estimated that by 2020, there will be up to 46,000 convenience stores in China. If by that time China’s vending machine market can be at the same development level of that in America, there will be 138 million vending machines in China. Between 2011 and 2015, organisers report, the number of vending machines in China increased fifteen-fold, and if the market keeps growing at this rate, a sum of 138 million vending machines would be easily achievable.
In the last five years, sales made through vending machines have increased by over 100% annually thanks to the ever-developing economy and improving living standards. Kantar expects that by 2020, the monthly sales of a vending machine in China will reach 6,000 RMB, and annual sales of all vending machines will be up to 100 billion RMB.
Held every year in Guangzhou City, Guangdong Province, China VMF (China International Vending Machines & Self-service Facility Fair) attracts world-leading vending machine enterprises such as Fuji Electric, T.K.B, Kubota Vending Machine, Nayax, Ubox, Easy Touch and is ideal for market players who want to tap into China’s vending machine market.
What: China Int’l Vending Machines & Self-service Facilities Fair 2017 (China VMF2017)
Where: China Import and Export Fair Complex
When: March 1st-3rd, 2017