Vending machines are gradually becoming a popular purchasing method in Vietnam. Especially during the Covid pandemic, when the Government encouraged people to do cashless transactions and minimize contact face to face, buying at vending machines became more and more popular. So what is the origin of vending machines in Vietnam? Let's find the answer with Dropfoods through this article!
The first appearance of vending machine in Vietnam
At the end of 2003, when coins were put into circulation in Vietnam, manufacturers started to bring vending machines into big cities. However, because coins are easy to fade, difficult to store and easy to drop combined with the high cost of products sold on the machine, the vending machine model cannot be developed in Vietnam.
In 2004, when the topic about vending machines of a group of Hanoi University of Science and Technology's students won the first prize in the "Youth with automation VN 2004" contest, this machine began to gain the public's attention. However, vending machines have not been able to develop in Vietnam due to limitations in payment methods when people still prefer to use paper money. By 2013, when the cash payment method was integrated, the vending machine really attracted the attention of consumers but it was not popular because banknotes under 5,000 VND were often old and could not be used to buy goods at the machine and the changeover feature is still limited.
Seemingly impossible to develop in Vietnam, by 2018 with the explosion of 4.0 technology, vending machines had a strong transformation. The appearance of smart vending machine models that are diverse in size, design and integrated with online payment forms from credit cards, e-wallets to applications has overcome the limitations caused by paper money and coins. Currently, in Vietnam, it is not difficult to find vending machines in areas such as commercial centers, supermarkets, amusement parks, hospitals, apartments, schools.
How do vending machines develop in Vietnam after almost 20 years
In recent years, Hanoi has been covered with many vending machines, especially in tourist areas and pedestrian zones. The government has installed a series of vending machines around Hoan Kiem Lake to serve tourists and residents. After being put into operation, citizens also appreciate that vending machines have contributed to reducing the rip-off and peddlers issues, causing disorder and loss of urban beauty.
Compared to Hanoi, Ho Chi Minh City has a denser vending machine density. Now it is not difficult to come across vending machines in shopping centers, office buildings, apartment buildings, schools, supermarkets, amusement parks, so on. Vending machines gradually become a popular purchasing method for the netizen because of its convenience, quickness and ease of use.
Compared to the first vending machine that only accepted coin payment, now the vending machine has been improved with a smart vending machine model, integrating diverse payment capabilities from cash, e-wallets to integrated application. Besides, the smart vending machine is also equipped with many expanded features such as changeover function, mobile top-up, buying phone card, sensor to know if the customer has received goods or not. In addition, smart vending machines also have real-time management software that makes it easy for operators to track sales, inventory, technical issues and customized software that helps investors adjust according to their business's needs and purposes.
The potential of the vending machine model in Vietnam
Vietnam is considered as one of the most prospective markets for the retail industry. Since then, investors have deployed the vending machine model to serve their business needs. Up to now, vending machines have become a popular business model, which not only brings operators a lot of profits but also brings many conveniences to consumers.
With an area of only 1m2, the vending machine can hold up to 300 products. Vending machines are an ideal business model with the ability of self-operating 24/7, low investment costs, does not take up space, application of technology in management to save labor costs, operating time and effort for investors.
Besides the advantages of reducing labor costs, vending machines also make it easier for companies to expand distribution channels because they are often installed in high traffic locations. As a result, businesses can expand their distribution network, both save costs and reach a large customer network, helping to increase brand recognition.
In general, the vending machine business model in Vietnam is very potential and full of promise. Especially, the smart vending machine with modern and LCD touch screens combined with diverse payment methods, bring an interesting buying experience to users.
If you have any concerns about the vending machine business model, Dropfoods is a reliable organization to answer your questions. Please contact us with the information below:
Address: Unit 401 PVFCCo Tower, 43 Mac Dinh Chi Street, Dakao Ward, District 1, HCMC. (Monday - Friday: 8:30 am - 5:30 pm)
Phone: (84) 28 6290 6066
Email: contact@dropfoods.com
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