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.