AVA chief executive David Llewellyn
With consumer behaviours constantly changing, the vending industry must react accordingly. Convenience is something that all consumers demand, and therefore vending machines need to have the right technology installed to make transactions as seamless as possible.
Data from the recent Vending & Automated Retail Association (AVA) census reveals that a substantial 65% of vending machines within the UK are now equipped to process cashless payments. This is a massive rise from 23% in 2018.
AVA chief executive David Llewellyn said: “This change demonstrates how contactless technology has gained unprecedented traction. The increase in individuals opting for these transaction methods underscores the unquestionable popularity of this trend. To stay competitive, vending machine operators must ensure their machines’ compatibility with these modes of payments, to make sure consumer demand is met with sufficient supply.”
Moreover, vending machines are increasingly tapping into the power of data-driven technologies, becoming more ‘intelligent’ each day. Over half the vending machines are equipped with cutting-edge connected technologies, enabling real-time monitoring of stock levels and consumer preferences. This influx of information allows machines to restock more promptly, guaranteeing favourite products are never out of stock whilst also enabling predictive maintenance, thereby minimising downtime and optimizing customer satisfaction.
David said: “As we look to the future, and with technology continuing to advance at a fast tempo, we anticipate an even steeper progression in the intersection of technology within vending and OCS. From interactive touchscreens that provide a personalised vending experience to the latest advanced payment systems, technology is crucial in captivating and enticing customers. Not just meeting their needs, but enhancing their overall interaction with vending and OCS systems.”
