Firstly, you need to know what vending machines are and how they work. This is an automatic machine which dispenses products like snacks, cold drinks, energy drinks and more usually at high volume locations such as train stations or airports. These vending machines are designed to eliminate the need to wait in line for purchases and allow you to make purchases at any time of the day.
INDIA VENDING MACHINE MARKET SIZE AND FORECAST:
The Indian vending machine market is projected to register a CAGR of 21% from 2014-2019. There are many factors which will drive this market. We have listed out some of them below:
Vendors entering into tie-ups with existing retail chains for selling their products through vending machines will propel the growth of this market. For instance, Coca Cola has tied up with Reliance Retail for selling its beverages in about 1,000 stores through vending machines which will be installed by year end.
On the other hand, most of the major vendors of these machines have come up with innovative machines that can be used just like a mobile phone and allow customers to pay through different modes such as credit/debit cards and mobile wallets. As a result, many franchisees are opting to go for this type of machine in their outlets.
DEMAND FOR VENDING MACHINE IN INDIA:
India has a growing preference for snacks and cold drinks which is one of the most important factors that will drive growth of the Indian vending machine market. It is expected that India will have the largest number of vending machines in the world by the end of 2017 as compared to any other country in the world. The vending machine industry currently employs more than 50,000 people and is predicted to employ more than 200,000 people by 2020.
BENEFITS OF VENDING MACHINE:
It is a cost-effective way for retailers to offer their products to customers.
Vending machines can help reduce errors and may not require sanitation as compared to other methods of selling.
It attracts new customers because vending machines are easy to use, unlike cash registers.
Some brands have used their vending machines in malls, railway stations and even on the street.
Grubox.in offers wide range of snacks and drinks for vending machine. Vending machines are the modern way to sell products and the vending machine industry in India has been experiencing tremendous growth over the past few years.
With the increasing technology and advancement of vending machines, there has been an increase in revenue through these machines, which is why most restaurant brands are opting for these machines. They provide immediate service and have been a great way to engage customers through added value services. Franchisors have also incorporated this into their franchises as a means of service delivery, which has only raised the bar even further.
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