Micromarkets are seeing rapid expansion because they bring together the best elements of a vending machine, a convenience store, and a cafe. These automated storefronts offer a wide variety of fresh and healthy food items that can be customized to best fit the audience they are serving, and provide these goods in an automated self-service environment that gives the user all of the quick-checkout convenience of a vending machine.
Key Data about Micromarket Kiosks
7 Billion: Expected size of Micromarket Industry in next 5 years
50,000: Total number of micromarkets expected to be in operation in next 5 years (3,000 operating today)
99.2%: Growth rate of micromarket industry from 2012 to 2013
200 Items: Typical number of items offered in a micromarket (traditional vending machines typically offers 45 products)
1.5% Shrinkage: Micromarkets see an average of 1.5% loss due to shrinkage (i.e. theft), whereas typical retail sees as much as 20% shrinkage.
Micromarkets offer important benefits to both owners and customers, and as a result, the micromarket industry is seeing unprecedented growth. The following are a few of the key statistics about the industry growth and why micromarkets are beloved by owners and customers alike.
Micromarket Kiosk Payment Options
One way that micromarket kiosk machines offer a major advantage over vending machines, convenience stores, and cafes, is that they provide the most flexible payment options. Consumers love the quick and easy self-service checkout options offered by micromarket kiosks, such as Olea’s “California” kiosk, and each owner can customize the payment systems that work best with their business models.
Direct Debit from Pay Check
Micromarket Kiosk Advantages over Vending Machines
Micromarket kiosk machines offer a few key advantages over traditional vending machines that make these systems a much better option for both owner and consumer. The following are a few of the key advantages:
A consumer can physically touch a product and read the label before making a purchase.
Consumers can mix-and-match different types of products and then purchase all in a consolidated single checkout process.
Size doesn’t dictate the product offerings, as is typically the case with vending machines.
Micromarket kiosks can offer fresh foods, and many contract with local third-party services to offer goods prepared the same day.
Owners are not limited to price points that are easily compatible with coin denominations, which allows for high profit margins by pricing goods with typical retail prices (e.g. $0.99)
Because micromarket kiosk machines have software that allows management of the system, loyalty programs, temporary pricing, promotions, and bundles can all be offered.
More products – typical vending machines offer roughly 45 products, while the average micro-market offers over 200.
Advantages over Cafes
Micromarket kiosk machines have a lower barrier to entry and significantly lower operating costs. This makes micromarkets a particularly attractive option for smaller businesses that cannot invest in a full-service cafe.
Micromarket kiosk systems can offer more products than a typical cafe, and because the fresh food is often outsourced, it is easier to change the menu with little notice.
Micromarket kiosks never close. This is especially beneficial for companies that have staff working long hours and weekends. It is no longer necessary to have a cafe staff available to serve the employees during off-hours.
The product offerings are limitless – even including items outside of food. As long as an item can be barcoded, it can be sold!