How to find the ideal location for vending machines? | Vending Expert Series Ep. 5
Smartven started a new form of informative series on vending machines titled Vending Expert Series. The series with more or less 2-minutes long will be in the format of asking questions to the vending machine expert, and hopefully can help people understand better about vending machines in a less text-book way. Previously we have learned how much it cost to start a vending machine business. This fifth episode will cover the question of “how to find the ideal location for vending machines?”. Let’s take a look.
Omnipresence
It may sound peculiar when we think of vending machines as something that is omnipresent. But with the rapid development of vending machines, it is something that we see everywhere. With a variety of products sold combined with the latest innovation, vending machines can be found in diverse locations. We can find them at airports, train stations, schools, or maybe the fitness centres. Last month we saw that there is a vending machine that sells underwear at MRT station. But how exactly do business owners determine the right locations for their products? How do they know that their vending machines will do well?
How to find the ideal location?
After we decide that we want to use a vending machine as a tool to sell our products, planning a strategy related to location is needed. You must have a location in mind that can use a vending machine in the area, but there is more to it. First we must learn the foot traffic around the area. Estimate in advance the number of people flowing from and to the point where the vending machine is placed. Second, we need to consider the density of the area. Let’s say maybe a large shopping centre will definitely have higher foot traffic, but keep in mind that there is an even lower chance that these people walk past your vending machine. You have to focus on the density of people surrounding your vending machine point so that your machine can still sell well. The third tip you need to consider is the waiting time. As business owners, you rely on customers’ consumerism and impulsiveness, which can be a hint for you to enhance the way you sell products as interesting as possible to attract their attention. As an example with how there is a vending machine inside the waiting room of a printing shop. For some weird reason, even when we don’t want to drink or eat something, seeing this machine while waiting allures us to buy something. This impulsiveness can be used as a factor to find the right location for your products.
The weekly series will cover more interesting topics about vending machines, so make sure to check the video on Smartven’s YouTube channel, and give it a thumbs up, comment, subscribe and share the video! You can always check our website and Instagram page for more information. Stay healthy and see you in the next episode!
English version written by: Nadhiya Pradhanitasari
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