Vending machines are becoming trendier, with advanced features that include life-saving capabilities. They have been reliable in fulfilling consumers’ needs since they first hit the market in the early 1800s.
Fast forward to 2023, micro markets have emerged as serious competitors, providing innovations to the refreshment services industry. This blog post examines the differences between micro markets and vending machines.
Vending machines have been a part of the commercial scene for centuries. Vending machines were first used in Rome for dispensing Holy water. The idea caught on with dry goods manufacturers, creating the first soda and ice cream vending machines. The business model continued to expand, including soft drinks, frozen yogurt, snacks, and more.
Micro Markets are self-service retail establishments selling food, beverages, toys, health products, etc. This emerging industry has seen tremendous growth in the last few years. According to a market research report published by Transparency Market Research (TMR), the global market for micro markets is expected to grow at a CAGR of 13.7% from 2018 to 2023. The concept is gaining popularity in developing economies due to increasing people’s health consciousness, convenience, and product affordability.
Let us dive in and understand more.
Today’s vending machines are equipped with all safety protocols, thanks to technologies such as Uvend. Micro markets are safe, hygienic, and a satisfying option. Advanced features like pre-authorized payment make them consistent and dependable, which helps limit the interface.
The variety of food in micro markets enables businesses to serve products that best cater to their customers’ cravings. For example, a coffee shop can offer different types of coffee, such as mocha, cappuccino, latte, and espresso, at varying prices per cup. A pizza shop, on the other hand, can serve a variety of pizza types and offer a range of toppings and sizes. Vending machines, especially combo ranges, can provide this to an extent but not so widely. The micro market offers more variety to entice customers.
The micro market offers customers a personal experience through the touch factor, where customers can touch, feel, and know their product better. The open shelving format also encourages businesses to offer better and more variety of products, magnifying the experience.
Catering has served the working community for many years. While catering services serve people at set times, the flexible working hours of today and changing employee behavior create a need for a solution that is available 24×7. Vending machines and micro markets are stocked with fresh, fast-selling food whenever needed.
Another backup with a catering setup is the wait time for food, as people may need to wait a long time before getting the food they ordered. Vending machines and micro markets solve this problem by allowing customers to cost-effectively satisfy their hunger without delay.
Vending machines and micro markets are excellent business solutions. At National Vending, we offer both vending and micro market solutions, and we are here to help you find the perfect and most profitable option for you. Get in touch with National Vending today!
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