The only constant thing in the world is change. Retail businesses demonstrate this by being at the forefront of any new trend, feature, or convenience that gives them an edge over their competitors. These changes could be at the back-end, driving efficiencies for the retailer in terms of overhead costs or bringing in more sales at the front-end. Contactless vending is a retail trend that does both – helping the retailer and the customer.
Contactless Vending Is Not Just A Trend
Even as the pandemic enforced social distancing norms that waxes and wanes, the world has accelerated towards contactless systems in a big way. Generally, the introduction of a new trend is due to a need or the novelty factor, whereas its long-term adoption depends on the following:
Utility – A sustained use-case for the customer is critical for a trend to maintain because novelty can only get you the initial interest.
Value – There has to be continuous business value for the retailer, which means that this trend should show returns even with widespread adoption.
Reliable & Dependable – The feature should be easy to live with in terms of its day-to-day operations and maintenance. The benefits become meaningless if it demands extreme care in its operations or is cumbersome to maintain.
We also believe this trend is irreversible. Contactless retail, unattended retail, autonomous delivery, etc., are part of the larger direction the industry is taking. Here we are listing five reasons as to why the vending industry specifically is evolving towards contactless vending.
Reason One – Technology is Available and Prevalent
Communication networks are capable of handling all aspects of a contactless user journey. From the dispensing side, new engineering disciplines like mechatronics have evolved from the embedded and mechanical disciplines to help contactless physical mobility and material flow. And from the user’s end, mobile phone and internet usage is near total to make contactless vending seamless.
Thus, all the technology components for a contactless customer experience have achieved scale and maturity – from item selection to payment.
For example, there have been breakthroughs in Near Field Chip (NFC) technology in recent years. They are giving rise to applications that have led to widespread adoptions of certain critical aspects of the contactless user journey. For example,tap and go payments are expected to benefit close to 75 million users in the US this year alone.
Thus the threshold for feasible and sustainable technology adoption has been achieved already.
Reason Two – An Improvement Over Existing Dispensing
A study finds contactless vending to be35% faster than dispensing solutions that require user intervention, no contact helps adhere to social distancing that reduces the chance of infection. Additionally,surveys find a majority of respondents believe contactless is here for the long haul. Contactless retail sales get a thumbs up by about 15.2% in the US alone. Customers like contactless features and the value it brings in, and the customer experience could only evolve from here.
Reason Three – There is More Investment in Contactless Technology
In spite of the global economic churn, we are seeing higher investments towards contactless technology. This points towards more efficiencies across the value chain, from the manufacturing and availability of technology applications to even more widespread adoption. This will bring down the threshold for businesses and even individuals to use and benefit from contactless technologies. The vending industry, which is poised to growby almost 22%, will also benefit from the new technology.
Reason Four – This Is Simply an Acceleration
Digital transformation as a buzzword has been dominating the last decade. We at eVending are digital-ready. We have helped entrepreneurs and businesses take advantage of the benefits from connected products and solutions. For example, a digitally enhanced customer experience with intuitive touchscreens brings in more sales. Our software and hardware features have also digitally enabled easier operations, service, and maintenance.
Reason Five – Customer Expectations
While more business models come out from the crucible of this global pandemic, customer journeys are always a work-in-progress. Customers love contactless experiences because they are better in all ways – convenience, speed, and efficiency, and we do not see that changing anytime soon.
Why Should You Choose eVending as Your Contactless Vending Solutions Provider?
We have a dedicated R&D department that combines the best product attributes with the latest technology and best practices. We listen to our customers and the industry. Our 375,000 square foot manufacturing facility, 24/7 support, and 90 years of vending experience combine the best qualities to expect from your vending solution partner.
Talk to our experts or take a tour of our Des Moine facility and see how we start with raw steel and deliver the vending solution that custom-fits your requirements.
The only constant thing in the world is change. Retail businesses demonstrate this by being at the forefront of any new trend, feature, or convenience that gives them an edge over their competitors. These changes could be at the back-end, driving efficiencies for the retailer in terms of overhead costs or bringing in more