We are living in unprecedented times. Since the pandemic, things are constantly changing and evolving as we learn a little more about the virus and its implications. The demand for flexibility is at an all-time high. Whether it is the flexibility of being able to work away from a professional workplace or getting contactless home-deliveries for everything from packaged retail products to even fresh food, essential medicines and supplies. As we respond to the pandemic by adapting our lifestyle to this new normal of reduced contact or contact-less, some older innovations too are being adapted and modified to suit this new lifestyle.
One such older innovation is the vending machine. Vending machines are turning out to become an effective means of touchless distribution of products right where they are needed and when they are needed. With IoT and rapid digitization, these interactions with vending machines are becoming smarter and digital as well.
Unlike countries like Japan or the U.S., vending machines have not been very common or large portion of India’s retail pie, however this is changing with Indian businesses and customers becoming increasingly more comfortable with digital platforms and payments. Along with traditional kirana stores, malls, and e-commerce, unmanned retail through vending, is poised to become an indispensable part of distribution and sales.
Another factor accelerating the rise of unmanned retail are players like Vendekin Technologies and their touchless digital vending technology which is making vending machines in India more ubiquitous and digital.
What started as a solution-provider for providing a mobile payment system for the often-overlooked sanitary napkin vending machines, has quickly transformed into a global pioneer for unattended retail technology solutions, with multiple patents globally. Today, Vendekin Technolgies is the leading name in providing smart vending solutions to businesses in India and internationally. Apart from smart vending solutions for Fast-moving Consumer Goods (FMCG) brands, and helping existing vending operators (EVOs) upgrade to digital, Vendekin also provides the right ecosystem for new vending operators (NVOs) to flourish in a fast-growing market.
The vending business, can seem quite intimidating with a high learning curve for the average entrepreneur. Apart from the lack of domain expertise and seemingly high capital investment required to start a vending business, another problem is the maximum retail price or MRP of a product. Profit margins for vending entrepreneurs can often get squeezed when they are negotiating prices with bigger FMCG players. Identifying all these problems, Vendekin launched Vending Commerce, or VCommerce to make vending machine and unmanned retail in India smarter for customers and simpler for those looking to set up a vending business. Right from helping source the hardware to providing branded software solutions and mobile app to make the vending machines smarter, to negotiating better margins.
In this digital march of the Indian retail sector, VCommerce is poised to become an important and eventually indispensable part of a brand’s marketing, branding and distribution strategy.
Smart, unmanned retail is going to change the game
One such example of a brand that has taken the VCommerce leap is the Pune-based popular Indian snack company Chitale Bandhu,which has installed Vendekin-powered vending machines at three locations in Pune in early 2021, to dispense all their packaged goods 24X7 in locations where they don’t have stores. The vending machines allows a user to make product selections and digital payments through a branded mobile app, powered by Vendekin.
So, what does Vendekin provide as a part of VCommerce?
EVERYTHING, together on one platform!
For a small investment amounting to the price of a small car, Vendekin provides entrepreneurs or NVOs with:
- Ecosystems to set up, manage and grow a vending business.
- Patented technology to make vending machines smart
- Trusted supply chain-connect with products on pre-negotiated rates for better margins.
- A mobile-first platform to manage all the assets remotely and get insights on sales and stock inventory too
- Trained manpower to manage and maintain these machines on a regular basis
- A dedicated sales and marketing team to find the best locations for the machines and help grow the business.
Expectations & Projections
According to the research paper, India Vending Machine Market (2020-2026) by 6W Research in March 2021, the Indian vending machine market is expected to clock a growth of 14.9% CAGR between 2020 and 2026.
Vendekin has already established VCommerce in 20+ Indian cities and in over 5 countries since 2016. Some top national and international brands such as Nestle, Coca Cola, SandenVendo, HUL, Godrej, Cantaloupe, Elanpro, Marico, Grabbit are being powered Vendekin’s automatic and smart vending solutions in India and abroad.
For many businesses, now is the time to take the leap and make smart, digital and unmanned retail a part of their distribution, marketing and branding strategy. If you have any questions, or are simply curious, start a conversation by emailing us on firstname.lastname@example.org or call (+91) 955-571-2713.