Imagine how many times that expression is heard every day. It likely conjures up images of a Swish Viennese Cafè but the truth is vending machine technology has advanced significantly to include coffee and a myriad of other snack options. In the U.S. alone the vending machine business is a $7 billion industry with more than 5 million machines and forecasters suggest by the end of the year there will be more than 53 million machines globally.
The same machine that dispenses coffee can dispense soft drinks, water, candy bars, chips and other snacks. In the past the items vending machines actually did dispense was hit and miss based on what was actually available, if you had the right coins and if they were actually accepted by the tin box in front of you. In those distant days you probably thought – who on earth manages these vending machines, why don’t they ever work, why don’t they have what I want and when is the service technician coming?
A report by Vendingmarketwatch.com suggests that the 80/20 rule is hard at work in the vending machine industry. Incredibly nearly 80 percent of vending operators still have not captured the benefits of using the Internet of Things (IoT) to improve their business. In layman’s language IoT encompasses the technologies that connect, manage and support remote systems, information displays and cashless payment systems the likes of which Eurotech helps to implement for the vending industry.
In the vending industry that means that the machine dispensing your coffee could also be connected with hundreds of other machines with data fed back to the enterprise through what Eurotech calls the Everyware Cloud, the IoT Integration Platform. That data can be used by the vending operator to view real-time inventory, assess machine health, change prices, adjust product offering, alert a technician and even – with the right information display system – tell you how many calories your coffee contains! With this type of system a vending machine can actually ask, “How do you take your coffee?” and then provide the requested result.
Incorporating the IoT into the vending industry does even more for vending operators because it can help them upsell and increase profits. Consider a scenario where the weather is forecasted to become very hot – do you think office workers will be purchasing water or coffee? With the right data operators can be sure to stock their machines appropriately which means selling more, and selling well for a better ROI.
To find out more about how Eurotech’s IoT technologies can help your vending business sell well, waste less and create satisfied customers, contact Eurotech representative in your country.