Industrial vending machines automate the process of dispensing items and equipment to employees. The machine, along with your inventory management system, can track items moving in and out. This ensures that you never experience shortages and keeps your operations running smoothly.
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These machines are a great tool for tracking shared equipment and ensuring that items are returning to the machine. They can restrict access to certain items depending on an employee&#;s role and can record who checked what out. This allows you to hold employees accountable for returning company equipment. In addition, the machines can set daily quantity limits for each item, reducing waste and hoarding of items.
Reduce Costs
Industrial vending machines limit and restrict access to dispensable items. As a result, you can regulate how much of each item your employees use. These machines can also track usage, which can help optimize your inventory levels. This eliminates the need to overstock particular items, avoiding stock shortages and improving efficiency. In addition, your firm can cut down on labor costs since you will no longer need staff to administer equipment. This also means you need fewer staff members to perform maintenance. With all this mind, these machines could reduce costs for your firm.
Increase efficiency
Industrial vending machines can increase efficiency since they don&#;t take up much space. You can place them throughout your warehouse or stock location. With multiple machines, you can reduce the amount of time employees spend getting the items that they need. Vending machines will always be running, so employees can grab what they need at any time of the day.
Eliminate Theft
These machines can both limit the amount of equipment an employee can take out and can hold them accountable for returning the items. This set-up deters employees from stealing and encourages them to be more mindful about wasting items while on the job. For instance, if an employee needs on average ten fasteners a day and is limited to taking fifteen, they will be more careful about losing or misplacing these products.
Know When, Where and How Long
You can also track these loans and ensure a reasonable return time. If you have employees moving to and from different locations, equipment may end up displaced. With industrial vending machines, you will know when items have been taken out and for how long. As a result, you can hold employees accountable for returning the items to the right location. This will result in a more organized system.
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Eliminate Inventory Shortages
These machines can eliminate stock-outs by tracking usage and replenishing items once they reach their min levels. The industrial vending machine will give you visibility and the ability to track the movement of these items. They ensure that the items your employees need are always in stock, so they can get the job done.
China&#;s unmanned retail transaction volume keeps going up. As predicted, by it will reach 1.8 trillion RMB and the scale of users will approach 250 million. According to the surveys, 83.6% of people are willing to continue shopping in unmanned stores, while only 4.8% are unwilling. Among people who have never tried, 66.5% have the intention to use unmanned stores, while only 8.4% are not willing to use them. These results show that the prospects of unmanned retail are broad, and consumers&#; attention and willingness to try are very high, which also means vending machines in China have a good &#;base of public opinion&#;.
The vending machine is not a new invention and it has been into China for more than 20 years. But why it is becoming popular now?
1. Rising of Labor and Rent Costs
The data show that the labor cost in China has risen 5 times in the past 10 years. In , the salary of Chinese employees has increased by 8%, ranking first in the world and far higher than the average level of 2.5%. In addition, China&#;s overall rental growth is 7%. The rise in labor and rent costs in China has resulted in a reduction in the profitability of entity stores. This makes the vending machine an important role in the new retail scene.
On the one hand, the vending machine saves on rent and labor costs. On the other hand, the vending machine is able to quickly lay the channels and take the initiative in the development of the current retail industry. It attracts more and more attention from brands. Due to the gradual increase in rent and labor costs, the pain points of offline operators are mainly reflected in the reduction of gross profit caused by the constant price of commodities. Compared to convenience stores, vending machines are more flexible in site selection, which saves labor costs. As a result, vending machines with low labor costs and small footprint have become hot spots. The emergence of new equipment such as self-service juice machines, self-service coffee machines, and fresh food vending machines have made this format unparalleled.
2. Greater demands for Convenience and Immediacy
As income level increases, people&#;s demand for instant convenient consumption increases. The consumption environment for vending machine becomes more and more mature in China. Closer to the user&#;s daily life radius, the unique convenience, and immediacy of vending machines cannot be replaced by e-commerce. As the mainstream consumer groups become more young and wealthy, consumers&#; demand for convenience is growing stronger.
According to international experience, when the per capita GDP reaches 10,000 USD, consumer demand for vending machines will usher in an outbreak. At present, there are more than 30 cities in China with a per capita GDP of over 10,000 U.S. dollars, involving nearly 300 million consumers. In addition, according to market statistics, consumers&#; demand for convenience stores is in order of fast, good, many, and cheap. The consumers&#; convenience for daily cyclical consumption has far exceeded the sensitivity to price. Meanwhile, the process of urbanization continues to advance and the population is continuously concentrated. The area of public space suitable for the installation of vending machines, such as office buildings and subway stations, continues to increase.
3. Popularized Online Payment and Better Consumer Experience
In the past, vending machines in China was tepid. Poor shopping experience may be one of the reasons hindering its development. Firstly, there were many machine failures. Secondly, even in the case of small settlements such as the purchase of beverages, banknotes are necessary. And the banknotes are usually packed in the pockets of the clothes, which are often wrinkled. Therefore, the banknote jams in vending machines often occurred. Consumers became having no desire to buy beverages through the vending machine. At present, the Chinese vending machines basically implement access to payment platforms such as WeChat and Alipay. Consumers can complete self-service transactions with a few simple steps on mobile devices. In , after Alipay and WeChat entered the vending machine system on a large scale, the revenue of the biggest vending machine operator in China soared from RMB 180 million in the previous year to RMB 650 million.
4. Higher Operation Efficiency by Intelligent Technology
The intelligence of vending machines mainly refers to the installation of intelligent networking systems and displays on the devices. Connected to the network, operational efficiency of vending machines can be improved, and there is more room for imagination in the business model.
The back-end management system of intelligent vending machines can monitor commodity inventory and operation status in real time. With back-end data, operators can perform replenishment and equipment maintenance more programmatically, and reduce operating costs. Through analysis of sales data, you can optimize the position and commodity structure of the vending machine. The user can also use the APP to inquire about the location and merchandise of the nearby vending machine and buy it directly to achieve online diversion. Coupled with more timely replenishment, stand-alone sales can increase.
The value of smart operating systems for reducing management and operating costs is also growing. In the past, grass-roots operators completely depended on personal experience when picking goods. How many goods are picked up each day, and the out-of-stock situation at each point can only be estimated. Now we developed a back-office management system to accurately determine inventory management and plan distribution routes. Before the distributor goes to the warehouse every day to get the goods, the app will first check the data of the vending machine. The sites with low stock-out rate can temporarily be ignored to consider replenishment on the same day. Only the sites with high stock-out rate are collected, so a bill of lading with the name and quantity of the goods is automatically generated.
5. Consumer-centric Service Experience
In China, vending machines are no longer simply providing vending services but will provide high-end technology and service support in the field of intelligent sales. Through the advanced cloud-service management system, the vending machine in China can help achieve easy management and operation of the mobile terminal. So the smart retail terminal can quickly penetrate. At the same time, it can achieve a win-win situation for the company, franchisees, and consumers.
In other words, before the popularity of mobile payment, offline consumption data is out of touch with consumers. They don&#;t know who the user is, don&#;t know the user&#;s consumer preferences, and it is extremely difficult to operate the users in depth to improve the conversion rate.
With the popularity of mobile payments, offline consumption has changed from getting orders to getting customers. Merchants get user&#;s ID and location information through the offline payments. After the consumer&#;s online and offline consumption records are all connected to form big data, the user image of a single user will be abundant enough. Through big data analysis, the consumption conversion rate under online and offline users can be greatly improved, and the data value in the future will be greatly increased. Data insights have created the core competitiveness of vending machines. Compared with traditional retail, New Retail focuses more on consumer-centric services and experiences.
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