29/10/2021

Vending machine business model trend in Vietnam

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The vending machine business model in Vietnam is very promising, especially in big cities. Today's vending machines are being equipped with many new technologies that provide a great shopping experience

What is a vending machine?

Vending machines are automatic machines that provide snacks, beverages, essential items such as masks, hand sanitizer and other products to buyers after paying with coins, cash, or via e-wallet applications. The first modern vending machine was developed in England in the early 1880s to deliver postcards of the time.

Today, vending machines are developed and integrated with many advanced technologies such as paying with banknotes that can receive change, via e-wallets, buying goods through a large touch screen that is easy to interact with, the machine's sales and inventory management software is very modern and useful.

Vending machines can now sell many things from essentials to luxury products like gold, jewelry and even cars that can still be sold through vending machines.

The potential of the vending machine business model.

Vending machines in developed countries such as Japan, China, Dubai, have become a part of every citizen's life because of the convenience and saving labor costs of the machine. In developed countries vending machines are not only beverages or snacks, but also products such as cars, gold, rice, pizza, jewelry,....

Vietnam, a country with the fastest growing middle class in the region, therefore the trend of using vending machines with modern technology brings convenience to users and saves human costs for operators. Entrepreneurs will explode in the future.
The potential of smart vending machines in Vietnam is huge, especially smart vending machines integrated with modern technology.

Vending machine’s generations in Vietnam.

Vending machines pay with coins: In 2004, the first vending machines appeared in Ho Chi Minh City. At that time, consumers had to use coins to pay.

Vending machines pay with banknotes and use physical keys to choose the product's code: After the advent of coin vending machines, it was difficult for consumers to pay when they had to change from paper money to coins to buy products. After that, vending machines that accept cash payments were born.

The first generation of smart vending machines in Vietnam: The requirements for the shopping experience are increasingly evolving, the machine’s payment method requires more convenience, diverse products and especially the test software that supports consumers' difficulties must be updated faster and more accurately. Dropfoods is a reputable company from Singapore that has launched the first smart vending machine in the Vietnam market.

Dropfoods smart vending machine has developed and brought Vietnamese consumers a great shopping experience when all purchases are done on the LCD touch screen, various forms of payment from pay by cash with change, via e-wallet, or Dropfoods app. The difference that makes the Dropfoods vending machine stand out is the revenue management software, products on the machine, statistics of customer preferences over time.

Elements that vending machines needed to serve the consumer’s needs in the future.

In order for vending machines to be favored by consumers, vending machine companies must be equipped with modern technology to give consumers the best buying experience from product selection, payment to the care and support stage of users who have difficulty buying products.

For vending machine operators, managers or investors, vending machines are required to be equipped with remote management software, which can manage sales, check inventory in the machine, in stock helps them save labor costs and easily manage when doing business with vending machines.

In conclusion, the vending machine business model in Vietnam, especially in big cities, is very promising, especially with the models equipped with technology in purchasing on the machine, bringing a convenient shopping experience to consumers and applying technology in management to save human costs for operators.