How to maximize profits from vending machines? Today, Our Zhongda is here to introduce you to vending machine placement in colleges and universities as an example.
With a steady flow of people, high demand and high consumption levels, colleges and universities have become a premium point resource in the minds of vending machine operators. So how do you optimally set up self-service coverage, how do you specifically position these self-service vending machines in various locations on campus, and how do you maximise the resource value of the points?
1.Campus layout points
Generally speaking, colleges and universities are relatively large, and there are more vending machine locations available, so where exactly will the vending machines be placed in order to get the best results?
Firstly, determine the approximate coverage area.
It is important to consider how many vending machines are needed to provide vending services throughout the school, and whether all areas need to be covered, or only the areas of greatest demand. It is a good idea to take a map of the campus and use markers to note the major areas of high traffic and use different colour blocks to identify the high and low traffic levels in each area.
Secondly, field research and observation.
(1) Understand the differences in demand and the intensity of demand in different areas through research and develop different merchandising strategies at each point based on the results. For example, vending machines in canteens, libraries and dormitory buildings definitely differ in the goods or services they offer, so if they are all treated equally and all sell drinks or a single product, this will inevitably affect higher profits.
(2) Even if the vending machines are placed in school buildings, there are still many locations to choose from and it is not up to the individual to decide how to choose. Therefore, it is important to analyse the walking paths of students in each popular area and observe the highest points of traffic to guide the choice of the specific placement of the vending machine.
Although the revenue from vending machines is limited, there are still some low-cost or even free campus promotions that can be used to generate higher operational revenue.
(1) Student consumption is personalised and diversified
Young people are the future leaders of consumer groups, the leaders of social trends and consumer fashions, and university students are among the quality choices. When choosing a vending machine, you can choose something more trendy, preferably one that can be customised to suit your needs, to increase its appeal. In addition, when it comes to payment methods, try to choose those that support card payments or even mobile phone payments, which are relatively efficient and cater to the mainstream of young people nowadays.
(2) Promotional strategies, based on festivals, actual inventory and sales data
Develop a promotional strategy for your products that will not only increase popularity, but also drive sales. Vending machine operators can use the hardware of the vending machine itself to broadcast promotional advertisements. For example, many of Zhongda's vending machines have large touch screens (up to 49" and 21.5" for standard models), which can be used to broadcast promotional information, making it easy for users to watch and for customers to buy with a touch screen, thus increasing their experience of the authenticity of the product and increasing their trust in it.
3.Vending machine profits and selection of products related
Do vending machine selection and e-commerce selection are a few similar, mainly the following points
(1) Supply of goods with a long shelf life, not easy to damage
The best goods sold in vending machines have a long shelf life and a low rate of destruction. This is the accumulated experience of unmanned shelves, breakfast machines, fruit machines, etc. The snacks sold by unmanned shelves, breakfast machines supply breakfast, fruit vending machines are some goods that are easy to lose and have a short shelf life, so if such goods are damaged or not sold during the shelf life, it will lead to losses, so these goods need a strong These items require a strong operational and sales capability.
(2) High demand and frequency of purchase for the goods supplied
The higher the purchase frequency of the goods sold, the better, because there are repeat purchases to have customer stickiness, in order to achieve marginal costs. If the customer has little demand for the goods you sell and relies entirely on luck for orders, then you can really give up.
(3) The customer price should not be too high
The price of goods sold in vending machines should not be too high. Don't put any wine or gemstones into the vending machine, the price is too high for the goods, in addition to the value of the product itself basically contains the brand and service premium, the high price of such goods depends on its brand promotion and corresponding services. The vending machine is self-service and does not have a high service premium, furthermore the brand premium is not reached, nowadays the vending machine is by default related to the basic needs of people such as clothing, food, housing and transport, and does not give people a feeling of being too high-end, so it is not very compatible for high-value goods.
(4) The product should have a proven supply chain
This means that the supply chain of the goods you sell should be mature, so that it is easy to find multiple suppliers who can supply you, so that it is easier to manage the purchase, sale and stock of goods, and there will be more references to do marketing for the products, including replacing goods and other aspects will be easier.
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