Horizon Scannin

Horizon Scanning : Re-imagining the Vending Industry

Caroline Jeanneau

Horizon Scanning – Re-imagining the Vending Industry, by Caroline Jeanneau, Head of Vending Offer, Worldline

The past few years have transformed the global marketplace, forcing businesses to reinvent themselves in the name of innovation, resilience and ultimately, survival. Those who have endured the pandemic are largely pioneers, change agents and trend adopters. As the world finds itself fully immersed in what has become known as the Fourth Industrial Revolution – which conceptualises rapid change in technology, industries and society – an important part of this transformation is receptiveness to technologies that merge the physical and digital worlds.

This period of disruption has led consumers to make mindful choices, pushing new payment technologies and the vending world to new markets.

In this article, I want to zoom in on the developments in vending taking place in 2022 and beyond.

Horizon Scanning – Re-imagining the Vending Industry

The cashless and contactless trend continues…
The demise of cash transactions is nothing new. However, its prominence and acceleration are critical to shaping the future of business. While vending was perhaps slow in adapting prior to the pandemic, providing cashless payment capabilities is now a must, with contactless penetration reaching 80% in Central Europe – and even 95% in Central Eastern Europe. But further change is coming… remote mobile payment is next. This will allow customers to order products and pay on their mobile, before collecting their order from the machine at their convenience.

Micro markets and the rise of the smart fridge
Accelerated by consumer demands for convenience, micro markets are unattended retail spaces where individuals can purchase food and beverage. Offering a variety of items that are re-stocked regularly, they can make useful additions to staff break rooms, where they can be custom-fit and filled with enticing options to keep employees happy and healthy. To use a micro market, a customer simply picks up the product they wish to purchase before paying for it via an intuitive, self-checkout kiosk. These kiosks offer a variety of convenient payment options including chip and pin, contactless, fingerprint recognition and more.

These stores also offer the benefit of being open 24/7, providing the customer with the shopping experience they have come to expect.

Similarly, smart fridges are being hailed as the future of vending with an ability to develop their own algorithm. This technology allows the user journey to be entirely customised with the relevant application knowing what customers like and subsequently presenting them with recommendations and notifications about new products, each time they log in.

Horizon ScanninMaking more mindful choices
Vending machines are rapidly diversifying. Gone are the days of cheap snacks in train stations and work canteens. Instead, new vending opportunities are everywhere, ranging from the ultra-high-end to direct-to-consumer locations. Consumer behaviours have changed, particularly among the younger generations. As a result, machines now offer healthy snacks, vegan and gluten-free products, umbrellas and cosmetics, tech accessories, even fresh products like eggs, milk, and meat. For vending brands, that means new business opportunities.

With a change in products has come a change in packaging. Thanks in part to changing European regulations, the use of plastic is diminishing. This positive change in attitudes around sustainability will be one the biggest trends of the decade, across every industry. One of the ways in which vending is responding is through retrofitting. Despite technologies changing at pace, it doesn’t mean that the more conventional machines are obsolete. By fitting old machines with the newest technology, vendors can reduce waste while delivering a better customer experience and cutting overheads.

Horizon Scanning – Re-imagining the Vending Industry

Technology as the ultimate driving force
Vending machines are no longer the antiquated, clunky boxes they used to be and customer interaction with them has gone well beyond the payment process. Equipped with new technologies, machines can give customers a more holistic experience – with greater choice, easier product selection, troubleshooting, and customer service opportunities.

*Caroline Jeanneau, Head of Vending Offer at Worldline, has over 20 years’ experience in product, strategic and field/communication marketing in the MedTech, FinTech and payment industries.  Prior to its acquisition by Worldline, she spent over 11 years working in payments at Ingenico. Caroline started as a Global Operational Marketing Manager, leading the global operational marketing and communication activities for payment terminals and services worldwide.

Read more from Worldline on Planet Vending, HERE
Visit Worldline, HERE
Images featured in this article were provided by Worldline.
Horizon Scanning – Re-imagining the Vending Industry

 

 

 

 

           

About the author

The Editor

Planet Vending’s Editor is Ian Reynolds-Young and it’s Ian’s unique writing talent that has made PV what it is today – the best read (red) vending blog in the world, and vending’s best read (reed). Ian ‘tripped and fell into vending’, in the capacity of PR executive, before launching a specialist agency, ‘reynoldscopy’, dedicated to the UK Vending business. The company continues to represent the interests of many of the sector’s leading brands.

‘It’s all about telling stories’, he says. ‘We want to make every visit to PV a rewarding experience. By celebrating the achievements of the UK’s operating companies, we’re on a mission to debunk the idea that vending is retailing’s poor relation.’

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