COVID has accelerated the demand for self-service. Consumers are more inclined than ever to use self-service, unattended venues for buying products for their everyday needs, including food, beverages, and more. But at the same time, traditional vending machines and micro-markets do not meet these consumer’s needs.
The first coin-operated vending machine was launched in the 1880s. It's been more than 100 years now and we have hardly seen people going crazy for this industry or falling in love with the shopping experience at Vending machines.
The world is going crazy for self-driven electric cars but hardly worked on improving these self-operated unmanned kiosks.
Now, companies are working to modify the vending machines to provide a contactless experience. Mobile app-based ordering has provided new ways to buy products without having to touch a hard surface. Consumer buying patterns can be clubbed with AI and ML to create an altogether a big network of Intelligent vending machines.
This will help this industry in improving its services and become one of the reliable shopping venues for consumers' everyday needs. Vending machines being one of the biggest sources of revenue for Coca-cola is already in the news for using AI to create Intelligent VM.
Smarter, touchless, and more versatile solutions bring the benefit of unattended retail to locations beyond those of the traditional convenience store operators, also opening new horizons for retailers and CPG manufacturers.