Improving Vending Machine Profitability with the Internet of Things (IoT)Intel
Construction & Buildings
Process Control & Optimization (PCO)
|[Cost Reduction - Operation]|
Lower Operating Costs
|[Efficiency Improvement - Operation]|
Simplified Deployment and Operation
|[Financial Growth - Revenue]|
Increased Sales and new Revenue Streams
Vending machines can also send real-time updates (e.g., supply and operating status) that can be used to optimize delivery schedules and logistics, and improve inventory tracking and control.
The cloud makes it easier to implement promotional strategies for increasing transaction size and sales volumes, like gifting, dynamic pricing, vouchers, coupons, and loyalty programs, which is virtually impossible with conventional vending machines.
Vending machine operators can generate incremental revenue from product manufacturers who want to show directed advertisements to customers and encourage repurchases by sending coupons to their mobile phones.