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Posted on 8th Apr 2019
Vending To The Next Generation | Cashless Vending
The vending machine business is one of the most consumer driven industries in the world. To be successful, you need to pay attention to the rising trends in the consumer base. Are you aware that the millennial and post-millennial generations account for the majority of vending machine sales? As a vending machine owner you need to make sure your machines are accommodating to this growing demographic that is driving the industry.
Young people nowadays are accustomed to the digital age and expect to have everything they need right at their fingertips. Convenience can make all the difference when it comes to making a sale. For this reason, more and more vending machine owners are looking to upgrade their pay systems to support electronic payments. As a vending machine supplier, Global Vending Group can provide any of the cashless vending systems you might need.
Cashless Vending Options
Just about every retailer seems to offer cashless payments of some sort and the vending machine business is no different. The number of vending machines with debit/ credit card readers have skyrocketed over the last few years. Similarly, mobile payment systems, like Apple Pay and Google Wallet, expect to make the same impact in the coming years.
Benefits of Cashless Vending Systems
More Than Just Convenience
While cashless vending is easier for the consumer, it can also provide you with valuable sales information. When someone makes a cashless purchase at your machine, you’ll receive some personal information. You can use this info to target specific demographics with your products and maximize your sales.
Keep ‘em Coming Back
Similarly, these digital payment systems will help you track customer data so you can identify repeat customers. This makes it possible to start a sort of rewards program to benefit your frequent buyers. You can turn mobile pay into a digital punch card and offer a free soda after every certain number of purchases.
When someone sees a vending machine, their thoughts immediately turn to food or drink. Cashless vending machine payments allow people to make a purchase before they even think about if they’re hungry or thirsty. This is great way to capitalize on impulse purchases.
Save Yourself Time and Money
Cashless vending machine payments are convenient to you as wells as the consumer. Digital payments will reduce the amount of maintenance required for bill changers and coin mechanisms. Additionally, you’ll save time counting bills and can make fewer trips to empty out the coin bank.
Customized Vending Machines
It’s clear that cashless payment systems are a great and necessary way to customize your vending machines. At Global Vending Group we also have other customizable vending machines available. In case you missed it, here’s one of our recent blog posts about a book vending machine that we designed for a local Buffalo NY school.
If you’re in the vending machine business you know how important it is to stay ahead of the game. Now is the time to make sure that all your vending units are equipped to handle any of the cashless vending options that are hitting the market. If you want to work with a vending machine supplier that is going to look out for your best interests, contact Global Vending Group today.