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The convenience of vending machines it gives to its consumers draw a lot of people to start their own vending business. Vending can be a lucrative business, depending on your location, some research and a little work; your profits can be unlimited. Vending has changed over time, there are new inventions and technologies that made vending business easy to manage and operate. Here’s some progression that happened in vending business in the recent years. Different variations of products are now available in vending machines. Before, there were only candies, snacks, sodas and other edible products available in vending machines. In recent years, the availability of different products in vending machines like stickers, medicines, condoms, DVD’s, toys and a lot more just showed how the vending industry has truly evolved. In UK books are also sold in vending machines. In Japan, it seems that everything can be bought on vending machines, from umbrellas, ties, batteries, shoes etc. One of the technologies vending machines had in recent years is the ability of the machines to detect foreign and fraudulent bills or coins. Sophisticated technology has made it possible for machines to identify accurately the amount of currency being inserted in the machine and was able to determine foreign coins even if it has the same size and weight with local coins. Vending machine are also capable to dispense the exact change, this technology is less sophisticated but proves to be very important in every vending machine. Studies prove that consumers prefer to buy on a change-dispensing machine than a machine that only accepts the exact amount or that doesn’t dispense change. Currently, there are high tech vending machines that are starting to accept credit and debit cards as mode of payment. One of the most exciting advancement in vending industry is the use of telemetry wireless technology. A machine with telemetry wireless technology installed will deliver information to the vending operator that helps in properly servicing the machine. Also, whenever there’s a purchase in the machine, the vendor’s office will be informed and data will be pooled making it easier for vending operators to know whenever the machines needs to be restocked. It’s also easy for the vending operators to identify which products sells faster and which product doesn’t. Telemetry technology is also the reason why vending machine can process cashless transactions.
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vending machines, vending business, evolution of vending,
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