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How do you ask smart probing questions?
By being smart of course
Why does a business need to have SMART objectives?
Because if you have smart objectives, you learn how to say no and your business will prosper.
What is punch line of hindustan times?
live smart...
Why are smart objectives important?
it is important to know how you are going to end
What does smart mart mean?
Smart-mart is an imaginary place where dumb people go to get smarts. Invented by a dumb teacher who fails at being funny! &Aphrodite's hobby for fun was to entertain herself with romance.
Is it profitable to buy a vending machine?
Buying a smart vending machine can be profitable for a company, especially from the retail sector. With a global market size of $51.91 billion in 2021, the vending industry is growing rapidly. With features such as contactless and cashless transactions, smart vending machines in India are changing consumer behaviour and providing higher shopping satisfaction to them by bringing the stores to them. Additionally, from a business standpoint, an automated cashless vending machine is more cost-effective when it comes to maintenance. This is because a cloud-based vending machine management software keeps updating the condition of the machine and its inventory levels.
What are some expenditures of vending machine business?
Apart from the vending machine cost in India, a vending machine operator will incur expenditure to hire part-time staff to refill the machines on a timely basis, installation of CCTV cameras for surveillance of the vending machine and its products, stock charges as in the cost of buying the products to fill the machine, pay monthly location rent and have a few more expenditure. However, with Vendekin’s smart Vcommerce platform, vending machine operators can now have access to a wide range of F&B and retail products available at a negotiated rate to increase the profit margins earned by the vending machine operators.
How often do you need to restock vending machines?
Reliling of a smart vending machine depends on the frequency of sales, the distance of the vending machine from the warehouse, the location and the business strategy. For higher footfall locations, you might refill the vending machine more frequently, since the usage is more. Since it is different for every business, it is important to plan the restocking trip to avoid higher logistic costs. For this, smart vending solutions like vNerta by Vendekin provide alerts and analytical data as to when restocking is required in which location so you can plan out the task in the most efficient way.
2 Why is buying with a smart card from a vending machine considered EC?
No real money exchanged hands. Just somewhere online, a figure was deducted from an account related to you, and added to an account belonging to the vending machine proprietor.
If I buy a vending machine, can I operate it from home?
Most certainly yes! With vending machines powered by Vendekin’s smart vending machine solutions, you can remotely manage, operate and monitor all your smart vending machines from everywhere. When you buy a vending machine it requires a handful of investments. This severely includes maintenance expenditures, but with sophisticated vending machine management technologies like vNerta by Vendekin, you can access the status of your vending machine in no time over cloud storage with multiple device login and manage it when you are at home, stuck in traffic or anywhere in the world.
what are the vending machine price in India?
The cost of buying a vending machine in India will vary as per its size, features, type, customisations you require and the machine provider. But on average, the vending machine price will range from Rs 1 lakh to around 10 lakhs. A smart coffee vending machine with no specific or complex customisation should fall on the starting end of the price window, while a snack vending machine would cost you around Rs 2-5 lakh depending. Additionally, if you have a variety of items in your product mix, you may need a combination machine that comes with an additional cost of 1-1.5 lakh over the original amount.
How much money can a snack vending machine make?
The revenue generated by a snack vending machine depends on multiple aspects like the type of product, location of the vending machine, payment options provided, discounts offered, business strategy, and many other factors. With Vendekin’s smart vending machine software and Vcommerce platform, vending machine operators can earn margins as high as 35%. To put it mathematically, suppose you vending machine that can accommodate around 150 products in one refilling, with an average MRP of Rs 20. This would let you revenue of Rs 3000. Again with this hypothetical example too, the revenue earned will depend on the product, and how discoverable the machine as packed snacks like chips and cold drinks are fast-consumption goods.
Unique ways to make most of vending machine price in India?
Apart from simply using a vending machine for direct business, brands have utilised smart vending machines as advertising and marketing mediums. This helps them to make the most out of vending machine prices in India by getting its body customised with brand colours, logo, theme, product display and even mascot images to build a strong recall value among the audience base. With more modern and smart vending machines, brands can market themselves with digital displays. This serves as a good opportunity for local business owners and kirana stores to rent their vending machines as advertising space. Additionally to this, brands have utilised smart vending machines as a part of their marketing campaigns. For instance, the Urban Decay Makeup Exchange campaign in Los Angeles distributed over 500 makeup palettes in exchange for used ones.
What can I sell with an automatic vending machine?
With a cashless and automatic vending machine powered by Vendekin you can sell any product. Today the vending business is not limited to the F&B retail sector. From pann to football and from t-shirts to a normal snack vending machine Vendekin helps businesses drive out most benefits from the vending machine business effortlessly with product-specific customisation and feature installation that is curated with their business needs and objective in mind. Furthermore, with a smart cloud-based and AI-driven backend system, vending machine software by Vendekin, like vNetra provides alerts and analytical data. This helps brands and even local entrepreneurs to plan their business operations like restocking trips, machine location, machine remote management and timely maintenance service for more effective ROI.
What is the most profitable vending business?
Beverages and snack vending machines are the most popular in the market with 43.00% of the global revenue in the vending industry (2021). Since they are fast-consumption goods with a decent shelf life and lesser risk. Additionally, with vending machine solutions like Vendekin's VCommerce platform, you can secure a consistent and predictable supply of the highest-selling FMCG products at the best possible gross profit margins for your business. However, Vending machine business in India is not limited to the F&B retail sector. Today, with the help of smart vending machine software and product-specific customisation, you can vend anything from t-shirts to footballs and anything in between.
How does a smart vending machine utilize artificial intelligence and machine learning to enhance the customer experience?
A smart vending machine leverages artificial intelligence (AI) and machine learning (ML) to revolutionize the customer experience in several ways: Personalized Product Recommendations: Using AI algorithms, the smart vending machine can analyze customer data and buying patterns to offer personalized product recommendations. By understanding individual preferences, the machine can suggest snacks or beverages that align with the customer's taste, increasing the chances of a satisfying purchase. Real-Time Inventory Management: AI-powered smart vending machines continuously monitor their inventory levels through sensors. When a particular product is running low, the machine sends automated alerts to the operator. This real-time inventory management ensures that the machine is always well-stocked, reducing the chances of disappointment for customers. Predictive Maintenance: Machine learning algorithms can predict when maintenance is required by analyzing data from sensors and historical performance. By identifying potential issues in advance, operators can proactively address them, minimizing downtime and ensuring the machine remains operational and efficient. Facial Recognition and Touchless Interface: Some smart vending machines utilize facial recognition technology to identify customers as they approach. This touchless interface enhances convenience and hygiene, as customers can make selections without physically interacting with the machine. Cashless Transactions: AI-driven smart vending machines integrate with various payment platforms, allowing for cashless transactions through credit/debit cards, mobile wallets, or QR codes. This reduces the reliance on physical cash and promotes a faster and more seamless purchasing process. Interactive User Interface: The smart vending machine's display often features an interactive user interface powered by AI. It can respond to customer queries, display nutritional information, or provide details about product availability. This interactive element enhances the overall customer engagement and experience. Dynamic Pricing and Promotions: Machine learning algorithms enable dynamic pricing, allowing the smart vending machine to adjust prices based on factors such as demand, time of day, or even weather conditions. Moreover, the machine can offer targeted promotions and discounts, tailored to individual customers' preferences. Analytics and Insights: AI-driven smart vending machines generate comprehensive data analytics and insights. Operators can analyze this data to gain a deeper understanding of customer behavior, popular products, and sales trends. These insights can be used to optimize product offerings and improve business strategies. In conclusion, a smart vending machine utilizes artificial intelligence and machine learning to provide a highly interactive and customer-centric experience. Through personalized recommendations, real-time inventory management, touchless interfaces, cashless transactions, and advanced analytics, these machines are transforming the traditional vending landscape, offering a more efficient, engaging, and satisfying shopping experience for customers.
Can I Install a Vending Machine if My Business Is Seasonal?
Definitely! A smart vending machine can actually help push your seasonal business to new locations and wider consumers during the right time. And since it is way more economical to set up when compared to a brick store, buying a vending machine for seasonal businesses does seem a good idea. This is even better if your seasonal operations bring in enough volume and sales. With private labelling, as offered by Vendekin, you can even customise your automatic vending machine to highlight your brand logo, colours, themes and any other identification. Doing so adds to the brand recall value for your business.
