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Connecting with the Next Generation

November 2nd, 2018 | Posted by Matthew Shattuck in Uncategorized - (Comments Off on Connecting with the Next Generation)

Gen Z?

Millennials are no longer the most recent next up and coming generation that the retail and food service industry needs to adjust too. ‘Generation Z’ was born after 1994 and according to Engagement Labs, Gen Z “is expected to account for 40% of all consumers by 2020.” An NPD report says the Gen Z is a “snack oriented” generation that enjoy ready to eat food.  It’s obviously imperative to know Gen Z’s consumer habits and values when planning for a successful future in vending.

“Connect, communicate, customize and cashless” are the new 4 C’s the vending industry must note when reaching Generation Z according to Vending Times’ Paul Schlossberg. Compared to other generations Generation Z pays extra attention to food.  Schlossberg writes, “We should be paying attention to the upward trend line of Gen Z conversations about convenience stores and chain drug stores.” Gen Z is using social media to share opinions of about food early and often. Using social media to share your brand and products is vital to connecting with Gen Z consumers.  It doesn’t take a large empire to find success using social media, giving smaller business the opportunity to connect with Gen Z. Spreading the word about your business and removing any hurdles from Gen Z connecting with your brand is a great step in reaching the next generation that wants to connect and communicate with you..

Cashless payment is no doubt important to a generation where their phone is basically another part of the body and is the epicenter of their waking hours.  Receiving cashless payments to your vending machine is a must for reaching Gen Z. There are some great options available for vendors looking to use cashless payments. PayRange, for example is the world’s leading payment network for coin-operated machines. Customers download the PayRange App and use their phone to pay instead of having to carry the correct amount of coins in their pocket. PayRange is efficient and secure for the customer and adding money to the Pay Range wallet is very simple. See if PayRange is what you need for your machines. 

Are you making the right moves to welcome the next generation of consumers to your machines?  Don’t be shy to share on social media what your brand is doing to help others and how your product is making a difference. Are you equipped with PayRange so your customers and tap their phones and buy your products? Some important things to think about as 2018 comes to a close.

How Millennials are Influencing the Vending Industry

August 17th, 2016 | Posted by DT in Vending machine business - (Comments Off on How Millennials are Influencing the Vending Industry)

Millennials influencing vending industry has become a focus for savvy business owners to increase sales.
There are many stereotypes and assumptions surrounding Millennials (ages 18-34). For example, they have been described as lazy and narcissistic yet at the same time they are viewed as active and engaged. Regardless of the mixed opinions of Millennials, the influence they have on society cannot be ignored. With many of them entering adulthood it’s time to put more focus on marketing to this demographic.

With 75.4 million of them, making up a quarter of the U.S. population, it’s no wonder why Millennials have so much power over industry trends. Millennial’s buying power equals nearly $200 billion, making them one of the most profitable markets today. Savvy vending operators are taking note by keeping the preferences of Millennials in mind when making decisions regarding their businesses. Things to be considered are payment methods, what products are stocked in the machines, as well as eco-friendly features.

Millennials grew up in a technology rich environment, the revolution of smartphones brought an era of instant communication and connectivity. In recent years, smartphones have become a platform for payment options, which isn’t surprising considering that cash carry is virtually non-existent among Millennials. Today, mobile payment options such as Apple Pay, Google Wallet, and credit / debit cards are essential. As the vending industry becomes more mobile friendly, vending operators can expect satisfied customers and increased sales.

Keep in mind that cash and coin payment is still viable across the market as a whole, so don’t toss your traditional payment systems just yet. The smartest solution is to allow for a variety of payment types. Lucky for you, eVending machines come equipped with cash and coin acceptors as well as the ability to be fitted with a  debit / mobile payment reader.

In terms of what kind of products Millennials want in machines, recent trends indicate that there is a market for healthy vending. Unfortunately this sort of thing is hard to nail down as far as what locations will respond positively to healthy foods. This has created a challenge for vending operators. If you happen to find an area where healthy vending is in demand and profitable, eVending has a selection of machines that can meet your needs. All of our machines have configurable flex trays that can conform to a variety of shapes and sizes; we even have a refrigerated elevator machine that will gently deliver food items such as salads and sandwiches.

Another common trend among Millennials and consumers in general is their focus on green, sustainable business practices. In fact, 49.4% of all respondents in a recent study said that when they see a product whose manufacturers use eco-friendly manufacturing and distribution methods they are more likely to buy that product; this increases to 56% for millennials.

eVending strives to be eco-friendly by engaging in environmentally friendly and efficient practices, we are proud to be a small but vital part in addressing environmental sustainability and climate change. In support for action on climate change eVending’s parent company, The Wittern Group, joined 153 companies in signing the American Business Act on Climate Pledge. Additionally, all of our machines include energy saving, eco-friendly features such as eurothane high efficiency insulation and long life LED lighting and credit display.

The landscape for vending machine operators is changing, stay on top of the trends by offering your customers top of the line, versatile machines with eVending.