Invenda has added programmatic advertising platform access to its hi-tech automated retail ecosystem, as an opportunity for clients to generate additional revenue.
The vending industry has been aware for some time of the possibilities of creating an additional income stream by harnessing the latent power of modern vending machine screens; but Invenda – founded only in 2017 – has managed to create a package of features and benefits that have turned this into reality. Invenda’s 46″ and 49″ screens are already being used to run DOOH (Digital Out-Of-Home) advertisements.
It’s a landmark moment for vending and unattended retail. On-screen advertising has come of age.
Samuel Wilson, Commercial Lead in the UK and Ireland, gave PV an exclusive overview of the new, improved vending service and explained how it adds value to a vending outlet. First though, he painted the familiar picture of the industry as it stands today.
‘Despite the fact that technology is capable of ‘changing the game’, the reality is that most vending machines are still not connected to the Internet, nor can they be managed remotely’, he said. ‘That means managing inventory is difficult – certainly if you want to do it in ‘real time’. Half-empty machines look unappealing and put consumers off buying. Advertising opportunities are limited to stickers on vending machines and any operator will tell you what a chore that can be to manage. Unconnected, machines clearly place constraints on any Payment or Loyalty opportunities. Servicing is inefficient. All of this means machines need to be visited frequently and consequently, operating costs are high.’
Invenda has taken connectivity beyond the delivery of these ‘basic’ modern requirements and into a new world of opportunity. Customers such as Mars Wrigley are already using Invenda’s smart technology to implement their digital solution across the UK and elsewhere in the world. Samuel: ‘First and foremost, our mission is to generate additional revenue for our customers’, he says. ‘Via the vending machine screens – in other words, at point of sale – our technology allows them to offer multi-buy or combination deals: Our real-time client dashboard data shows that these increase per-machine sales significantly compared to the incumbent single-purchase option. They can promote special offers, give AI-powered product recommendations, and highlight new products. They can also generate revenue by enabling advertisers to use their vending machine screens to reach out to impulse buyers, encouraging them to buy.’
The ’encouragement’ appears to be effective. Thanks to these smart IoT solutions, Invenda confirms that its customers experience, on average, a minimum of 30% hike in sales revenue when the system is installed. And, as we have seen with McDonalds’ self-ordering kiosks, when consumers grow accustomed to shopping via touch screens, sales only continue to increase.
‘Operators can take the concept of branding to the next level with Invenda’, Samuel added, ‘thanks to custom branded machine foil combined with customized user experience and video advertisement. Through remote control of inventory and pricing, as well as remote issue identification, costs can be optimised instantly. Our platform and our data analytics allow control and transparency of sales performance and servicing levels. Consumers, meanwhile, enjoy a completely contactless ordering and payment process via a proprietary browser-based e-wallet payment option. All in all, working in partnership with Invenda, clients leverage a new, highly visible channel of consumer engagement.’
However, the truly revolutionary benefit of Invenda’s solution is the possibility of connecting its screens to programmatic advertising platforms, which are essentially automated software for buying and selling ads. ‘Operators can sell their screen time to media buyers. That’s free money for them’, says Samuel.
What’s more, there’s nothing random about the advertisements Invenda runs on its customers’ screens. It sounds like science fiction when Samuel explains how the new advertising and promotion opportunities are unlocked. ‘Ads can be targeted based on weather conditions and time of day. Why not offer a refreshing drink on a hot evening or a hot chocolate on a cold winter afternoon,’ he says. ‘Using our partners’ technology, we can track how many people saw the ads in a certain location and gain valuable consumer insights.’
It’s vending, Jim, but not as we know it.
A Bluffer’s Guide to Invenda
- Invenda Group AG was founded in 2017 by CEO Jon Brezinski.
- HQ is Alpnach, Switzerland, with offices and showrooms in London, Berlin, Stockholm, and Novi Sad.
- Software and hardware development is managed by the 100 strong team.
- The company specializes in the development of software and hardware for automated retail including vending machines, smart fridges, micro-market kiosks, and digital signage with enhanced AI and big data features.
- Invenda sells new machines with integrated software solutions or upgrades existing machines with their retrofit kits.
Did you know…
- Invenda’s software partners include Microsoft and Intel.
- Programmatic advertising partners include Vistar Media and One Tech Group.
- Existing customers are Mars Wrigley, Coca-Cola, Selecta and others.
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