It is now, Vending 3.0
In the pre-vending era, product sales were labor-intensive, relying heavily on manpower for sales transactions, cash collection and inventory management. Sales locations were confined to retail areas with limited operating hours.
The introduction of vending machines during Vending 1.0 successfully automated product sales and cash collection, primarily for beverages and snacks, marking a significant shift toward 24/7 self-service retail channel.
Vending 2.0 introduced smart vending machines powered by the Internet-of-Things (IoT), enabling remote-monitoring and inventory management, enhance customer user experience and accept cashless payment. The product range expanded to include more diverse and premium items like ice cream and bento meals. However, Vending 2.0 remained primarily a 24/7 self-service retail model.
Vending 3.0 with ConnectVend redefines the industry by going beyond traditional self-service retail. Through advanced integrations with various platforms and Autofulfillment capabilities, each ConnectVend machine functions as a brand's exclusive store, enabling effective marketing and automating the management of product redemption and online and offline sales. ConnectVend's Autofulfillment feature empowers online platforms to expand their decentralized marts, achieving lower CAPEX, automating order handling, and reducing the distance to customers, revolutionizing how businesses operate.