Evolution of Consumer Behavior
The evolution of consumer behavior has taken a tremendous turn over time. Back then, the way customers shopped for products was vastly different from how they shop now. Most of us relied on brick-and-mortar stores, there were no price comparison services, and no automation involved. We went from a linear, retail-focused model to today’s iterative, digital-centric model of customer behavior. With digitalization growing exponentially in India, the concept of automated retail is also gaining traction where the modern retail landscape is moving into automated retailing allowing each customer to receive a personalized, contactless experience.
In recent years, vending machines have become increasingly popular as a convenient and accessible way to purchase goods. While traditionally used for snacks and drinks, vending machines have evolved use cases and are now being used for a variety of products, from stationery and electronics to beauty products. As a result, many small-scale stores are now considering implementing vending machines as a way to improve their business. This raises the question – can vending machines revolutionize small scale stores? Let’s take a closer look.
Can Smart Micro Retail Kiosks Revolutionize Mom & Pop Stores?
While this answer is subjective, we see its potential to revolutionize and upgrade better facilities for customers. Although mom & pop shops are popular, they have significant drawbacks. According to a study, approximately 57% of mom & pop store owners are middle-aged people in an age group of more than 50 years. Due to this keeping up with the latest trends and technologies can be highly difficult for shop owners. In addition, a vending machine or SMRK is a much-needed solution that will attract more customers and ultimately enhance their buying experience.
Vending machines can certainly offer some benefits to small-scale stores, but whether or not they can revolutionize these types of businesses depends on a variety of factors. Let’s consider the benefits of vending machines in small scale stores.
Vending machines or smart micro retail kiosks (SMRK) provide a self-service model that can reduce labor costs for store owners. It enables customers to purchase items instantly and easily without the need for assistance from anyone. This means that store owners can focus on other aspects of the business. This can be beneficial for small-scale stores that have limited resources and can’t afford to hire additional staff.
Additionally, vending machines can help small scale stores expand their product offerings. Since vending machines can be used to sell a wide range of products, store owners can use them to supplement their existing offerings. This is because they don’t require much physical space as a store and can be stocked with a variety of items. This can be particularly useful for stores that have limited space or that want to offer a wider range of products without having to expand their physical area. For example, a convenience store could use a vending machine to sell items like ice cream, automate the process or even sell items of everyday convenience like beauty products.
Another advantage of vending machines is that they can operate 24/7. This means that customers can make purchases at any time, even when the store is closed. For small-scale stores, this can be especially beneficial since it allows them to provide a service even during non-operational hours.
Challenges
However, there are also some challenges to implementing vending machines in small scale stores. One potential issue is the cost of procuring and maintaining the machines. The maintenance and repairs can be expensive and time-consuming.
Another challenge is the need for sufficient space to accommodate the vending machines in the store as vending machines can be large and bulky, which may be an issue for small stores with limited space.
This is where Vendiman can be beneficial. We provide our SMRK’s or vending machines at a minimal monthly rental, wherein we take care of the end-to-end refilling and maintenance of the machines. Also, our machines come in two sizes: Medium & Large, which can be placed as per location and requirement. Hence the challenges are averted making our SMRK the ideal solution.
Vendiman- The Latest Advancement and Technological Upgrade your Business Needs!
Vendiman smart micro retail kiosk is a leading solution that helps make everyday life easier, smarter, and safer! It is fully automated with various payment options for a hassle-free purchase. Moreover, smart vending machines can provide valuable data for small scale stores and can track sales data, which can help store owners to understand which products are selling well and which are not. This can help small-scale stores to optimize their product offerings and increase revenue.
In conclusion, while there are both advantages and challenges to using vending machines in small scale stores, it is clear that they have the potential to revolutionize these businesses and stay competitive in an increasingly crowded market. While vending machines may not be suitable for every small-scale store, they can certainly provide a valuable solution for those looking to be operational 24×7 and expand their product offerings to increase revenue.
Get in contact and email us on marketing@vendiman.com to install a Smart micro retail kiosk and automate your offerings.
