Competition In Vending Industry

It is not exaggeration to state that very few businesses are as competitive as vending industry. With increasing demand for vending machines, more and more number of operators is keen towards starting this business, the end result being severe competition in the industry. Withstanding this competition is toughest challenge for any operator, for this one has to concentrate more on providing better service to their customers and have to make regular note of their changing tastes and preferences.

One of the most ideal ways of sustaining competition in vending business is by understanding your target consumer pulse i.e. their preferences and thus providing the best sales and after sale service with minimum response time. Vending is undoubtedly fast changing business that is continuously affected by changing times. Besides competition for similar operators, retail outlets and shopping malls also compete with vending operators.

What can be does to sustain this competition? Here are few tips that can help an operator withstand competition.

• Specification: Try to be specific in what you sell. Do not vend more than what you can manage. Concentrate on few products and switch to bulk vending if possible for better results.

• Ability to offer at lower or reasonable prices: Since the establishment and running costs of vending business is low in comparison to other business models. This business also does not require you to hire sales personnel and being a complete cash business, there is no scope for bad debts. These benefits allow you to price products at lesser price when compared to other shopping malls or retail outlets.

• Vending has gained huge popularity among people who hardly have time to wait in long queue for billing or purchasing products. This machine provides you with the convenience of pick and go. So ensure that you stock your machine with sufficient quantity of stock. This will help boost your sales.

• Always prefer latest and new machines. Discourage used or refurbished machines. New machines from trusted manufacturers like planet Antares are more reliable and ensure smooth operations.

• Appropriate marketing strategies. Provide discounts and special offers that can increase your sales.

• Prefer glass front vending machines from Planet Antares when compared to closed ones. These machines enable customers to see the products which they would be purchasing. Not only this, glass front machines help you in identifying outdated stock which can be easily removed.