The concept of vending has been introduced over the years with the aim of providing a way through which people can buy some essential products even during closed hours. This has further aided many companies in expanding their wings even to the remote areas.
The research report titled, “Vending in India” offers insights for the key trends and developments that are driving the vending industry in India. It well investigates all the retail channels including hypermarkets, supermarkets, discounters, convenience stores, mixed retailers, health and beauty retailers, clothing and footwear retailers, furniture and furnishing stores, DIY and hardware stores, durable goods retailers, leisure and personal goods retailers so that a detailed analysis of all these related sectors is produced for the users of this report. Basically, the analysis of the industry is carried out on parameters involving market sizes (historic and forecasts), company shares, brand shares and distribution data of all the products which together constitute the vending industry.
The vending industry mainly caters to products which include: Hot Drinks Vending, Other Products Vending, Packaged Drinks Vending, Packaged Foods Vending, Personal Hygiene Products Vending, Tobacco Products Vending, Traditional Toys and Games Vending.
The launch of vending machines in India witnessed that there was always a helper, who took the money from the consumer and operated the machine since the concept was absolutely new to most of the people and especially in remote areas where such machines are installed even lately; the helper is present since literacy rate in our country is still low as a result of which many consumers are still not able to operate the machine in an proper manner.
In the recent years, it has been observed that vending has continued to have an insignificant presence in India for retail purchases and majority of the vending machines operating in the country are being used for institutional sales purpose only. Therefore, the vending industry has a long way to cover in order to register optimal profits and revenues and it has been anticipated that only when the number of vending machines across India are multiplied exponentially year after year; the vending industry will be able to show some level of consistency in growth initially followed by further developments at increasing rates in future years.
One of the most famous vending machines manufacturers of India named “Beta Automation” that operates from Coimbatore came up back in 2014 and since then it has been bringing up innovations after proper investigation of the market requirements, market structure and demand and supply shifts. The company has majorly catered to industries involving apparel, pharmaceuticals, jewelry, tools, stationery, mobile, agriculture, food manufacturing and has also set up seed vending machines. Lately, in line with the frauds people are indulged more into nowadays; the vending machines have been designed by Beta in a way that fits in the enhanced vibration sensors, alarms and triggers the capability of these futuristic shopping machines to identify fake and torn currency notes such that revenue from this already slow paced industry is not hampered.
Also, the Airports Authority of India have supported the arrival of vending in the country to a large extent and whenever one visits the airports in India, such vending machines are available in abundance to offer convenience to the consumers. Furthermore, it is foreseen that all the Indian airports will install ‘sanitary napkin’ vending machines to promote a holistic development of the Indian economy. The first machine has already been set up at Indore Airport and recently, the airports in places like Kolkata, Jaipur, Bhubaneswar, Port Blair, Trivandrum, Vishakhapatnam, Vadodara, Pune, Guwahati, Varanasi and Surat have also got these machines which will spread all across the country with the passage of time.
Moreover, the Indian government has continued to contribute in the best manner possible by aiding in maintenance of vending machines in all metropolitan cities in India including Delhi, Mumbai and Bangalore. For instance, in an effort to raise awareness amongst people about safe sex; the government sponsored installation of vending machines selling packets of condoms. With more such awareness campaigns and ongoing advancements towards economic progress; this industry is expected to blossom in another ten years.
It has been noticed that the major convenience stores’ players have commenced with expansion into vending industry and thereby new vending machines with various functions are currently being developed and launched, including food vending machines, dairy drinks vending machines and soft drinks vending machines. Overall, the vending industry is projected to record an affirmative growth majorly owing to the amplifying number of product types that will be sold through vending machines in the coming years. Hence, that day is no far when vending machines will be as popular as ATMs are today in India.
To know more about the research report:
Ankur Gupta, Head Marketing & Communications