Vending Machine Software: How to Manage Your Vending Machines Remotely

Imagine this:

You decided to buy vending machines and place them at different locations. Now one of them starts facing difficulties and you receive a notification, another requires restocking, you receive an alert and if a product is performing well, you receive its data evaluation.

All these little nudges by your vending machine software can help you save a lot of money every month, that otherwise would go into repairs from unnoticed malfunctions, unplanned refilling logistics and even weak business strategies.

That is why a majority of businesses in India, are focusing on investing in the best vending machine software that eases the process of maintaining and monitoring their vending machines remotely.

Taking it one step ahead is Vendekin’s vNetra, a cloud-based, GDPR-compliant, AI/ML-driven vending machine software that aids in making your vending machine business in India futureproof.

Read ahead to know how.

How to remotely manage and maintain smart vending machines

With Vendekin’s vNetra, you can take your automatic vending machine business in India a notch above with its live inventory checks, smart alerts about the machine status, in-depth transaction details, access to refunds and discounts offered, timely performance reports, CSV reports and much more for multiple vending machines.

These are filtered under the following services:

Descriptive Data Analytics

At its base, vNetra gathers, examines and reports all the information regarding the operation of your vending machines. This entails capturing and disseminating all data that informs you of what is happening currently with all of your smart vending machines at various places.

This includes analytical data about:

• Machine inventory levels
• Refilling requirements by individual vending machines
• Errors faced by them
• Transaction details
• Periodic (daily/ weekly/ monthly) performance reports
• Machine activities
• Discounts and offer analytics

All of this is available all the time, anywhere in just one click! With this, the vending machine operators can properly plan and execute maintenance trips and efficient inventory restocking.

The descriptive data allows you to gauge, diagnose and hence improve your business strategy with the aid of predictive analytics.

Predictive Analytics

The term predictive analytics indicates employing descriptive data and modelling techniques to determine what is likely to happen in the future.

Hence, vNetra’s AI-based attributes help in studying historic data patterns and identifying upcoming trends in sales. This allows businesses to allocate their resources smartly to increase operational efficiency and reduce risks in running their vending machine business. This makes it favourable for those looking to buy a vending machine.

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Vending Machine Buying Tips: How to Choose the Right Vending Machine for Your Business?

‘Modern consumers demand convenience’, this is the constant truth within the evolving retail environment. Thus businesses are opting to buy vending machines that aid cashless payments and provide instant gratification to their consumers.

So much so that the global vending machine market showcases an opportunity of $6.97 billion in revenue from 2019 to 2027. What is even more astonishing, is that with 43% of global revenue, the food and beverage industry is not the only one to have a strong hold over vending machines.

Multiple businesses including cosmetics, fashion, mobile phones, gold, medicines, etc are investing heavily in vending machines.

But acquiring the right vending machine can be a daunting task. With so many types and brands of vending machines available, it's important to weigh your options carefully to find the best option for your business needs.

Here is a comprehensive guide to help you choose the right vending machine.

What to consider before buying a vending machine

Before you start looking for a vending machine, it's important to evaluate and assess your specific needs. Consider factors such as size, capacity, features, type, location, the technology used, etc.

Evaluating your requirements can help narrow down your selection to the ideal machine for your business. This must include:

• Type of vending machine
• Machine size and space availability
• Location. Location. Location.
• Ease of use and management
• Technology used and features provided

Let’s discuss them in detail.

Type of vending machine

Every product has its own unique requirements to maintain its ideal condition. Hence each product demands different features from a smart vending machine.

For instance, a cashless coffee vending machine for office spaces would require a heater, while an ice cream vending machine would require a refrigerator. Likewise, for more delicate products like milk packages, you might want an elevator vending machine and not a spiral one.

Apart from these types, there are also vending machines for snacks, drinks and even combo products. All these little considerations can impact which vending machine you purchase.

Vendekin’s Expert Tip: Choose the product mix first. Identifying the products for your target audience in a particular location, will help you find the best vending machine for your business.

Machine size and space availability

Another interesting consideration should be the machine size, after all this small point can make a big impact on your business.

If you have the right location selected and have fast-selling products like snacks and beverages, you would want your machine to be big enough to store a decent amount of the product to avoid frequent refilling of the inventory.

The second factor that will guide you in selecting the right machine size is the space available to you. Office spaces can only hold a mini coffee vending machine while much larger automatic vending machines can be placed in public spaces like parks, metro stations and malls.

Consider your location

It is important to consider the location of where the machine will be placed. As it helps to look for a machine that can handle the traffic patterns and conditions of the area.

Additionally, consider factors such as clearance space needed, access to power outlets and any additional security measures you may need to take for the vending machine unit.

Vendekin’s expert team can help your business identify more profitable locations on the basis of the analytical data collected by their smart cloud-based vending machine software vNetra.

Taking these into consideration when selecting a smart vending machine can help ensure a successful purchase!

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Top 5 Vending Machine Trends Every Retailer Should Know About

It was in the early 1880s when the first retail coin-operated modernised vending machine was set up to dispense postcards. This efficient mode of retail gradually made it into the 21st century while undergoing countless changes and through multiple vending machine trends.

The findings from PepsiCo Foodservice’s consumer study on unattended retail show that consumer spending rose from 20% to 40% with unattended vending machines highlighting how post-pandemic, consumers are preferring unattended retail, digital transactions and hassle-free shopping experience. Hence, it is only right to say that the market size of vending machines and their acceptability will only expand in the coming years. And with this expansion will come countless upgrades, some of which are already shaping the upcoming trends for vending machine businesses. Let’s take a look at them in detail.

Top vending machine trends you must not miss

The thriving vending industry will experience a positive push for the following vending machine trends:

• Cashless payments
• Sustainability in vending
• Interactive and immersive experience
• Multi-function operations
• More product variation

These are described in detail below.

Cashless Payment: Providing convenience and security 

Right off the bat, the biggest shift in vending machine trends is the increase in the usage of digital payment gateways. With 48 billion digital payment tractions in the previous years, India topped the list with the most real-time transactions. This, in 2021 resulted in a cost saving of $12.6 billion for businesses.

The growing number of cashless and smart vending machines has led to increased consumer satisfaction with improved hygiene, and seamless, quicker, efficient and more secure transactions.

Additionally, this vending machine trend will efficiently ease the refund process for businesses and consumers likewise. Ensuring that cashless and automatic vending machines stay in the retail industry for the long run.

Support Sustainability: Making automatic vending eco-friendly

The next vital vending machine trend is the rise of eco-friendly and more sustainable ways to vend. The solution to it comes with the best vending machine software and hardware technologies that can provide sustainable solutions in the future.

Under this, the rise of upcycling old vending machines with smarter vending machine software will gain great attention. Vendekin’s RetroBox is one such sustainable solution. This plug-and-play device can be installed and ready to use in under 2 minutes.

It converts a regular vending machine into an automated vending machine by enabling touchless and easy mobile payments. Furthermore, it allows the consumer to purchase multiple products in one transaction, meaning they do not have to pay individually for each item.

Additionally, businesses would focus on advanced vending machine software that provides a deeper analytical insight into restocking and product status. Sensors that aid perfect temperature for products are in for a win among all vending machine trends as they reduce the risk of product spoilage.

Interactive and Immersive: Personalised experience with smart vending machines

“Consumers prefer unattended retail more than ever because they want to shop at their own pace. Consumers want control over their transactions, something that unattended retail gives them without the hassle of feeling pressured by an outside party”, shared Greg Herman from PepsiCo Foodservice in an interview.

Their experiment showcased how consumers now demand unattended and cashless retail experiences where they can physically feel the product and enjoy instant gratification with the least interactions.

This vending machine trend has already begun to shape consumer behaviour with vending machine software driven by algorithms that curate more personalised experiences.

Continue reading Top 5 Vending Machine Trends Every Retailer Should Know About

Buying vs Renting a Vending Machine – Which Option is Better?

To buy vending machines or rent that is the question!

It is no news that with cashless and automatic vending machines your business can thrive in the US$ 55 Billion vending machine industry. With a mobile inventory, backend data that evolves with your consumer, product-specific customisation and brand labelling, smart vending solutions can give your retail business a positive push.

But, many businesses keep circling around when it comes to the price of vending machines and are in a dilemma of whether to buy or rent a vending machine.

Unravel this conundrum with us.

Buy vs Rent a Vending Machine: A road not taken

A smart vending machine will turn out to be an efficient and future-proof business investment in India. And with the growth of the phygital environment, micro-marketing is becoming a need for every retail business. The consumer expects a contactless, immersive and quicker retail experience, which is effortlessly provided by smart vending machine solutions.

As a business, now is the time to evaluate the pros and cons of renting a vending machine vs buying one.

Buy a vending machine

As mentioned, investing in smart and cashless vending machine solutions will help you establish your business strongly in the upcoming phygital spaces. With over 750 million smartphone users alone in India, owning a cashless vending machine will only enhance the benefits you reap.

Find out all the pros and cons of buying a vending machine:

Pros of buying a vending machine

1. Low investments and ownership of profit:

Most businesses demand high investments, but you can buy a vending machine equipped with the best vending machine software for an average amount of ₹1 lakh to ₹10 lakhs, depending upon its size, private labelling and product-specific customisation.

Buying a vending machine comes with all ownership of the machine and all the profits. Without the periodic deduction of rent, you can further use the earned margin for more efficient business development activities.

With Vendekin’s cashless and smart vending solutions, you start earning profit anywhere between 18 to 36 months. This depends on the product, business strategy, location, the discount provided, etc.

2. More flexibility

Another benefit of buying an automatic vending machine comes as flexibility in product selection, inventory stocking and even pricing. When you rent a vending machine, your choices are limited by what is available with your nearest dealers. This limits the choice of the products you can vend, as different product categories might require different customisations to a vending machine.

Additionally, when it comes to restocking, you need not depend on individual service providers or other supply chains that may turn out to be unreliable in the long run.

3. Better quality of service

Providing cashless and quicker transactions to your consumer is one among multiple reasons your business requires an automatic vending machine. And when you buy vending machines there is a higher chance that you would invest in a brand-new machine with the best vending machine software. In relation to this, the performance and service provided will be way better than a previously used rented machine.

Cons of buying a vending machine

With the whole and sole ownership of vending machines comes the responsibility for their timely maintenance, repair, cleaning and restocking.

With Vendekin’s smart and cashless vending machine, you get free vending machine repairs and fixes for the first year as a part of our warranty.

Rent a vending machine

For many local businesses, the up-front cost of buying a vending machine is the biggest concern before venturing into the vending business. Hence they prefer to rent vending machines instead of buying them. Explore the advantages of renting an automatic vending machine below:

Pros of renting a vending machine

1. Lower Up-Front Cost

The most significant advantage of obtaining a vending machine on rent is that you would have made a minimal investment. The average rental cost starts from around ₹5,000 per month and can go up to ₹15,000. This effectively eliminates the intensity of expenses by cutting the sum cost over smaller periods of time.

This will however depend on the location, product type and size of the automatic vending machine along with the quality of vending machine software it is equipped with. In simple maths, you would have paid over 3-5 lakh in around three years depending on what is available to your nearest vending machine operator.

2. No expense over restocking or maintenance

It is natural that when you rent a smart vending machine the responsibility of restocking, regular maintenance, care and proper functioning of the machine is on the vending machine operators. When you rent a vending machine, these expenses are generally covered by the service provider as mentioned in the rental agreement over a monthly service charge. In most cases, the vendors will offer to stock the vending machine themselves depending on the product type.

You save a significant sum by reducing the cost of maintenance and cleaning when you rent vending machines over a period of time.

Continue reading Buying vs Renting a Vending Machine – Which Option is Better?

So How Does a Smart Vending Machine Work Anyway?

Placed mindfully in parks, cafes, gyms, schools and housing apartments, there is a high chance, a smart vending machine will turn out to be a delight box for someone. Often stocked with goodies like snacks, refreshments as bizarre as paan, and even t-shirts, cashless vending machines in India are gaining more popularity.

Reports estimate that by 2032, the global retail vending machine market will reach an estimated value of US$ 130 Billion, attracting multiple businesses towards it.

And within this mesh of changes surrounding smart vending solutions, is an unanswered question, “how does a smart vending machine work?”

Let us dive a bit deeper to understand how a smart vending machine works.

Within the mysteries of vending machine operations:

To understand how a vending machine works one has to take into account its type, customised features and the specific technology used while making it. However, on an all-around spectrum, there are two types of vending machines in India:

1. Traditional cash or coin-operated vending machine
2. Smart and cashless vending machines.

This divergence stems from the user perspective or the way the customer interacts with the vending machine to complete a transaction.

How are Smart Vending Machine Operations Different from the Traditional?

In the case of a traditional vending machine, it is all about the spare change. The consumer is required to insert coins as per the product cost, press the right button and collect the product at the end. With little advancement in technology, these machines were soon customised to accept cash payments as well.

Some of the earlier vending machines like tea and coffee vending machines or soda vending machines in the early 90s were coin-operated. These machines mostly had spiral holders that would move in order to dispense the product.

Such vending machines worked unsatisfactorily as the coin often got stuck within the machine and made it a nil transaction. Moreover, it was difficult to refund the amount to the consumer instantly.

Then arrived the smart-cashless vending machines. These technology-driven smart machines permitted cashless transactions via multi-channel payment methods. Currently, digital payment gateways like credit/ debit cards and UPI are available on all smart vending machines in India powered by Vendekin Technologies.

The consumer needs to scan a QR code which will direct them to a web app page, where a catalogue of products appears. After selecting the product/s through the web page, they can simply proceed to pay digitally by scanning a QR code on the vending machine.

Making Life Easier: Smart Vending Machines

This wave of advancement has also allowed the customer to experience a more inclusive retail experience with minimal physical contact and shopping time, giving rise to contactless vending commerce.

Additionally, it allows the consumer to select multiple orders and pay a cumulative sum in the end instead of purchasing one product at a time.

Smart vending machine software like vNetra by Vendekin, also helps businesses track inventory levels, vending machine operating status and collect data on consumer buying patterns and much more. These kinds of benefits have made many big FMCG players like Coca-Cola and Haldiram switch and buy smart vending machines.

Continue reading So How Does a Smart Vending Machine Work Anyway?

How Vending Machines are Reshaping Retail & F&B

1st century A.D., Roman Egypt.

People eagerly wait with a token in hand to experience an engineering marvel called the vending machine.

It might seem unlikely but with a massive history of over centuries, vending machines have been a part and parcel of human civilization. From the holy water vending machine in ancient Egypt to the smart snack vending machine in India, it has left a great impact on the global consumer, particularly in the retail sector.

So much so that the market size of global retail vending machines was estimated at USD 51.91 billion in 2021. Moreover, the beverage retail segment contributed 43% of the global revenue with smart coffee vending machines and energy drinks in the lead.

Another modern impact of the vending machine is seen in the way it continues to reshape the retail and F&B sector, especially through new-age smart vending machines. Retailers and FMCG brands are keen to understand how vending machine companies in India are moulding the retail sector by tapping into contemporary consumer behaviour, which expects immediate solutions and instant gratification.

Understanding the role smart vending machines play in retail and F&B, therefore, starts with understanding consumer purchasing trends and behaviour.

What Is Consumer Buying Behavior in FMCG?

The vending market is expected to grow at a  CAGR of 8.7%  between 2020-2026 in India, anchoring the vending machine strongly in the Indian retail market. This massive growth results from the unique consumer purchasing behaviour in the F&B sector. The traditional neighbourhood kirana stores, malls and hypermarkets are now facing a push from the upcoming micro markets of smart vending machines in India.

Earlier the consumer would wait in line, and go through the bothersome process of finding spare change. Then a shift in consumer behaviour was seen with liberalisation and digitalisation, but the biggest wave of change came forth with the pandemic.

Post 2019 the same consumer is conscious about:

• making physical contact
• traditional payment methods
• the time consumed
• finding the exact product all the time, everywhere.

In other words, the buyer is more aware of the consumer experience. Today consumers demand a personalised experience with minimum human interaction. Thus making the Indian retail segment all about convenience. This micro-market has evolved to be interactive, immediate and immersive. 

And at the centre of this touchless, cashless and convenient experience is the smart vending machine.

Smart Vending Machine: The heart of retail and F&B sector.

As per the India Digital Payment Report for the third quarter of 2022, there were over  19.65 billion UPI transactions made, accounting for a sum of Rs 32.5 trillion. This, along with the growth rate of 71.7% for digital payment (by 2025) makes for a massive shift towards a cashless retail experience. In addition to this, the consumer demands for unmanned yet inclusive retail experience.

Adhering to the shifts in consumer behaviour, the retail market has turned towards micro markets of unmanned and cashless vending machines solving the following concerns:

Less physical contact

The consumer wants to have an inclusive and immersive shopping experience while maintaining minimum physical contact. A position that is rare to achieve in a traditional retail setup, especially in F&B retail as the consumer shops around various products to compare the prices and specifications.

Smart vending solutions address this concern in just one tap. By scanning a customised QR code, the consumers now can check out all the products on their devices and proceed to pay. This in turn is building a repetitive habit of lesser and lesser contact while shopping.

Vendekin, one of the top vending machine companies in India, provides an intelligent machine controller framework, including hardware and both a mobile app and web interface, that can help minimise physical contact by up to 95 per cent.

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In Conversation with Habib, Head, Machine Delivery

Vendekin Technologies is reshaping the unattended retail industry with its smart vending machine software. Taking its contribution one step ahead is its new Machine Delivery department. This In Conversation series explores this new wing of Vendekin with Habib Rajbar, Head of Machine Delivery.

Previously heading the R&D Electronic department at Vendekin, Habib and his team of 6 were responsible for designing, developing and testing smart vending machine management and softwares to suit the best needs of businesses and vending machine operators. With the same motivation, Habib now takes over as the head of the newest branch at Vendekin, the Machine Delivery department, as shared in excerpts from our conversation below.

What exactly is Machine Delivery in smart vending technology?

As the name goes, the Machine Delivery department ensures that the smart vending machines are 'delivered' to the customer as per their requirements, customisations and in the perfect condition. And to execute this to perfection, we identify the various requirements, abilities, capacities and limits of different types of vending machines, and help the customers in strategising more specific, more efficient, and more holistic smart touchless vending solutions for their products.

Our goal is that of transforming the Indian vending landscape by converting traditional vending machines into smart and automated vending machines alongside providing smart vending machine management software like vNetra and solutions like the Retrobox. This will enable existing and upcoming businesses to look at Vendekin as their one stop destination to identify and acquire unmanned vending machines customised as per their product requirements, and powered by Vendekin's smart, touchless and cashless vending solutions.

What gave rise to the creation of this department?

Heading the Research and Development wing at Vendekin for around 6 years made it clear how many of our clients had some very specific requirements to vend their products and even faced minor hiccups in their everyday operations because of some or the other technical difficulties with the machine they acquired directly from other manufacturers.

Though Vendekin’s vending machine management software ran efficiently, improper machines can sometimes cause unwanted hiccups. On several occasions the team has to brainstorm effective solutions even with limited information about the vending machines brought in by the client.

With all this in mind, we felt a need to widen the understanding of smart and touchless vending machines.

Which departments does Machine Delivery work with at Vendekin?

Currently Machine Delivery collaborates with the Research and Development department, the Operations team and the Consumer Success wing at Vendekin. From researching to sourcing the machine and from defining its requirements to testing, every task is carried out by Machine Delivery to help these departments.

Since the Machine Delivery department is fairly new it does not directly interact or deal with clients yet. All the client-communication is currently taken care of by the Consumer Success at Vendekin.

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Finding the Right Location to Install Smart, Cashless Vending Machines for Higher Sales

With around 65 lakh potential set-up locations across 500 cities in India, smart and cashless vending solutions are driving the Indian vending market at a Compound Annual Growth Rate (CAGR) of 14.9% (2020-2026). Moreover, as more brands are gearing up for phygital retail markets in India with automated and touchless vending machines, it has become vital to target the right location and spaces for your products to get more profitable returns.

But, what are some good locations for vending machines?

In all honesty, a vending machine can be installed anywhere from offices to subway stations and from departmental stores to housing apartments, depending on your target consumer and business needs. That being said, it is important to consider various factors that make a space more suited to install a smart vending machine with cashless payment solutions.

Location Matters! Here’s why

India hosts 40,000 hospitals, 249,000 factories, 113,000 public places, countless workspaces and residential apartment complexes that can turn into the right opportunity to upscale your retail business with low-risk and cost-effective cashless vending machines. What connects all these varied spaces are factors like comparatively high footfall, power availability, product-specific demand, rent, distance from the warehouse, etc.

1. Daily Footfall

Vending machines and cashless vending solutions are meant to serve people. Hence the most ideal locations to install a vending machine are places with significantly high foot traffic or visitors. With high footfall, the chance of attracting impulse and habitual buyers increases. In either case, your business revenue will increase. Touchless vending machines with digital payment solutions have a higher advantage as the transaction becomes quick and secure in places that host large crowds.

Moreover, by placing strategically branded vending machines, you can really get some brand recall going in places with more eyeballs. Know more about Private labelling services by Vendekin here.

2. Power Availability

All automated and cashless vending systems are electrically operated, hence, to retrieve benefits from your vending business, you must ensure constant availability of electric power or at least a backup generator. Additionally, this is a must for food and beverage businesses planning to go the smart vending machine route since their product will often require an in-built refrigerator or food-heating oven.

3. Demand and behavioural trends

The simple rule of demand and consumer behaviour applies to Instant Commerce as well. This has only been elevated with smart vending machine payment solutions. For instance, at workspaces in India, employees and visitors are accustomed to tea, coffee and light snacks. Hence the demand for a tea/coffee vending machine or a touchless snacks vending machine is high.

Likewise, for a nutrition bar and juice products, gyms and parks are profitable locations.

With the right information and proper understanding of the behavioural patterns of the target audience and the demand trends of the places they visit, placing a smart vending machine is easy.

4. Distance from the warehouse

Smart vending machines too require stock re-filling as and when required. So having a vending machine installed strategically nearby a warehouse or in a well-connected area is a plus for your business. As a result of which the cost of logistics goes down significantly.

Vendekin’s smart and cashless vending solutions come with vNetra, a GDPR-compliant, AI/ML-driven back office vending management software that tracks the inventory level of the vending machines along with other rich data points around sales, discounts, margins and user consumption behaviour.

Can a vending machine be placed anywhere?

A smart vending machine can be placed anywhere, but for the best returns in your buck, strategy around location is key.. Depending on the space available, the location and the kind of product being vended, Vendekin will provide your business with customised vending machine solutions.

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Why Choose a Micro-Market over a Pantry for Your Office

Are the coffee runs in your office taking longer than usual and eating into your team’s productive work hours?

Is finding and refilling tea bags, sugar, coffee and snacks on the pantry shelves a constant nightmare for your team?

Then it is time your office floor or complex got itself a micro market powered by the smart vending solutions from Vendekin Technologies, known for creating the best vending machine software in India and worldwide. Here’s how a micro market can help your office.

What Is a Micro market?

A micro market is a closely condensed convenience store consisting of 2 or more vending machines selling various products through unmanned, unattended retail. It utilises automated self-checkout technology, often combined with cashless methods of payment.

But, can a micro market benefit your workplace? Here are five benefits of incorporating a micro-market into your office space.

Transform Your Break Room

Upgrading to a micro-market powered by the best vending machine software from India upgrades your break room. Instead of a room with beat-up coffee machines and shelves of expired snacks, a break room with smart vending machines with neat rows filled with snacks, beverages and even office supplies makes for a much more modern and convenient break room. It creates an overall improved office experience and subliminally communicates to the office staff that they are valued and their needs matter. Instead of each one going off on their own, often you will find teams gathered around these new-age vending machines or micromarkets during breaks, which overall helps build relationships and morale.

What does this mean for the company? Higher employee morale usually means an overall happier place to work. Additionally, adding a micro-market may also give your business’ reputation a boost as a workplace. Company perks, such as better break rooms and snacks, are highly valued and can even become a talking point helping draw and retain talent.

Greater Office Productivity

Another reason why using a micro-market makes sense for today’s businesses is that it is an easy way to boost your workplace productivity.

Office staff leaving the office for long lunches and coffee breaks can cost a company useful work hours. A micro-market powered by the touchless, cashless vending machine technology from India, can save your team a lot of time. Snacking and even lunch options are available, allowing your staff to easily shop for satiating and nutritious food without stepping out of the office. All in all, having an engaging break room in your office can help your staff save time and stay focused during the day.

More Convenient than Old-school Vending

Micro-markets via smart vending, have done away with hassles of traditional vending machine technology in India or worldwide. It is uncommon now to see users standing around a vending machine fumbling for coins and notes. Vending machine dispensation technology too has upscaled, and it is unusual to see products get jammed in now.

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In conversation with Abhinav Soni, Sales Head - Opportunities & Challenges for smart vending machine

Vending may have been in India for almost 40 years now, but as the world rides the new wave of digital retail, our sales lead Abhinav Soni shares his thoughts on the opportunities and challenges presented by smart vending technologies, the solutions provided by Vendekin to brands globally and the challenges his team faces in selling this idea to brands and entrepreneurs. Excerpts from this interesting conversation:

Smart Vending Machines in the Indian market

Abhinav shares that the exponential growth of digitisation in India has resulted in massive traction for the idea of a smart & unmanned retail landscape. Multiple brands are showing interest in building new channels of sales & even beginning to explore automatic vending machine prices in India. While smart vending machines offer end-consumers a touchless and personalised experience, Vendekin Technologies provides smart vending solutions in India and worldwide to brands in the retail and food & beverages (F&B) sector. Vendekin does this by retrofitting their existing vending machines to make them “smart” – cashless and touchless – with the help of a web or app interface.  Vendekin also customises smart vending machines as per a brand’s specific needs and requirements and provides an AI/ML (Artificial Intelligence/Machine Learning) driven back office vending management software to remotely track sales and manage other vending machine operations digitally.

Traditional Stores vs Regular Vending Machines vs Smart Vending

While Abhinav doesn't believe in the idea of pitting the concepts of traditional stores, regular vending machines and smart vending machines against each other, he does elaborate on the benefits that brands experience with smart vending machines. For instance, setting up a traditional brick and mortar store takes a lot more time and money to get up and running. Regular cash-and-coin operated vending machines come with their own set of limitations and still require tactile human interaction and manual intervention in its operations

Smart vending solves both of these challenges. A vending machine can be set up in as less as 1/10th of the cost of a traditional storefront. And in less than 24 hours a business can be set up with smart cashless vending machines in India. Customer transactions on these machines are entirely touchless, managed through smartphones, while all the sales data and interactions can be tracked digitally by the vending machine operator.

Expanding Beyond the Usual Markets

Vending machines are a common sight at airports, railway stations, bus stops, corporate offices and various public spaces. But there's a lot more that can be explored, says Abhinav. Vendekin-powered smart cashless vending machines can be set up in residential complexes, educational institutes, business parks, fitness centres, hospitals, etc. Basically, any place that witnesses high footfall is a potential place of business for smart vending machines.

The team at Vendekin can help businesses identify such high footfall spots across the country and handhold them in setting up smart vending machines at these locations. This is a part of Vendekin’s bouquet of vending solutions in India and across the world.

Scope of the Vending Industry

According to Abhinav, vending has now evolved over the usual packed snacks and beverages. The smart cashless vending machines in India and worldwide can be customised as per the product a brand wants to sell. Natural Ice Cream now vends tubs of its popular ice creams through a customised refrigerated vending machine in Pune, similarly Shaukeen Pan has a unique "Paan Vending Machine" outside its store and Gadre Marine has packaged seafood vending machines installed in a residential complex.

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Smart Vending For A Sustainable Planet - Can Vending Machines Help Reduce Carbon Footprint?

Global decarbonisation is an uphill battle, a fact that was underlined and discussed by major economies from around the world as they made commitments during the UN Climate Change Conference in Glasgow (COP26) in 2021. And industries, including retail, will have to play an important role in building a lasting solution for a sustainable planet.

Smart Vending Technology can be one the harbingers of this change in the retail industry, with smart unmanned retail helping the FMCG sector reduce their carbon footprint while becoming more accessible to end users.

Read on to learn how.

Reduce food wastage with vNetra

Studies have shown that if food waste was a country, it would be the third-highest emitter of greenhouse gases on the list of countries with high carbon footprints. With smart solutions for vending products, especially food items, businesses can play a crucial role in sustainability.

vNetra, Vendekin's Google Cloud powered, GDPR compliant, AI/ML driven back office vending management software, is a step forward in smart vending technology by digitising the supply chain or backend vending operations. Through the vNetra software, inventory of all active machines can be tracked on a single platform. This means knowing in advance, which machines have perishable goods close to their sell-by date. Knowing in advance can help plan the sales of these items with a shorter shelf-life. At the same time, on restocking rounds only items with a sell-by date need to be refilled. This helps reduce product wastage.

Reduce fuel emissions with digital inventory management

Having a centralised system to track the inventory of all vending machines, retailers or vending machine operators can be aware of their exact inventory at all times. No matter where the vending machines are or where the vending operators are.

Machines have to be restocked based on product inventory and expiration date. The frequency of refilling vending machines depends on the frequency of consumption by consumers and the perishable nature of the products. If certain machines require frequent refilling trips, restocking them can be optimised by planning more refills in a single restocking trip, to ensure less fuel is burned and fewer emissions released into the environment.

vNetra provides a centralised inventory management feature to operators and businesses, which helps them effectively save time and money by taking appropriate decisions in regards to restocking.

Saving on energy usage

Departmental stores, supermarkets, showrooms and restaurants require a lot of energy, in the form of air conditioning, refrigeration, lighting, maintenance etc, to run their operations. Each of these devices could be run for an upward of 10 hours each day on average.

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Most Frequently Asked Questions about Vending Machine Technology

Starting a new business can get a bit scary, especially when the industry you are entering is rapidly evolving. And with the introduction of the latest vending machine technology in India the vending industry is going through a period of growth and disruption. This also means more opportunities for entrepreneurs and brands! And with that come questions.

Team Vendekin Technologies compiled a list of the most frequently asked questions by new vending entrepreneurs and brands as they enter the vending machine industry. And these FAQs have been answered in detail by Vendekin’s marketing and product experts to ease the journey for anyone starting out in the vending industry. So, let’s dive right into these questions...

How much does a vending machine cost in India?

The costs of vending machines may vary depending on its size, type and the customisation done on it. The smallest machine may cost anywhere close to Rs. 1 lakh and may go up to Rs. 8-10 lakhs. Having worked with various vending machine suppliers in India, we have found that a vending machine made to sell delicate products like sweets and snacks can cost between Rs.2.5-3.5 lakhs, while combination machines that have a built in chiller for refrigeration can cost anywhere between Rs. 4-4.5 lakhs.

How often is restocking a vending machine required?

Vending machines are stocked by vending machine operators. Refilling depends on the frequency of sales. And sales depend on the location where the machines are installed. It goes without saying that places with high footfall will see increased usage of the machines. When a new vending operator (NVO) or brand gets onboarded to Vendekin Technologies, they get more than just smart vending machines installed with the latest vending machine technology in India. The marketing team at Vendekin helps identify locations with better footfall. Moreover, with the help of our vending machine management software, vNetra, NVOs and brands in India can track and analyse sales from all their machines as per location and tweak their efforts accordingly.

How big can vending machines get?

Vending machines come in a great variety of shapes and sizes. The smallest machines powered by Vendekin are 3 x 3 feet in height and width, while the biggest Vendekin smart vending machine, a hot food vending machine has dimensions of 6.5 x 5 x 4 feet in height, depth and width respectively. To reiterate, the size of the vending machine purely depends on the product being sold.

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In Conversation: Apoorv Nene on Customer Success at Vendekin

In this month’s edition of our In conversation… series, we got chatting with someone whose team works hard and smart to ensure Vendekin’s customers – new and existing vending operators (NVOs & EVOs) and brands – achieve business success as they become a part of the instant commerce revolution with smart vending provided by Vendekin’s best in industry cashless vending solutions in India. Vendekin Technologies is known for spearheading VCommerce or vending commerce and unattended retail through a patented touchless and cashless technology complemented by a comprehensive analytics and aggregation portal vNetra.

In this riveting conversation, Apoorv Nene, head of Customer Success at Vendekin Technologies shares his experiences of leading the department and the most common and unusual challenges his teams tackle in providing a delightful experience with smart vending machine solutions to entrepreneurs in India.

Leading Customer Success at Vendekin

Apoorv is an Industrial Engineer from the University of Illinois Chicago and an executive alumnus of IIM Kozhikode. Armed with the experience spent working with American Axle & Manufacturing as a quality & industrial engineer and ZOLLER India & South East Asia as a technical sales manager in the United States and India respectively, Apoorv joined Vendekin Technologies in June 2021, just as the country was coming out of the pandemic-induced lockdowns and getting used to the contactless approach to daily life.

What exactly does Customer Success mean at Vendekin?

According to Apoorv, it’s simple. When a customer feels valued, feels that his/her decision to venture into this industry with Vendekin has begun showing results that are visible and tangible, that there is Customer Success.

Apoorv and his team of 15, which also includes a part of the operations team, work with two kinds of people every day. One, the ‘Customers’ consisting of vending machine operators, entrepreneurs and brands. This can range from experienced players to new entrants, both to whom Vendekin provides vending machine solutions in the form of smart vending machines, intelligent RetroBox and the SaaS software powering them. The second type of folks his team interacts with are the ‘Consumers’, those making transactions and purchases using Vendekin-powered smart vending machines. These consumers reach out to Vendekin using the in-app messenger with suggestions, complaints, or questions. Apoorv’s team steps in here by providing solutions directly or bringing the operator into the loop to ensure the issue is resolved in the shortest possible time. This way it’s a double win for the end-consumer as there is always another level of redressal of their complaints and concerns.

How does the Customer Success team help brands and new entrepreneurs?

The customer success teams are by the customer’s side right from the time they are on-boarded with Vendekin. The teams work in tandem with the marketing team in educating the customer about how to extract maximum benefit out of their smart vending machines by making optimum usage of the analytics platform - vNetra. These smart vending machine solutions provided include technical troubleshooting, marketing assistance, promotional strategy planning, and customisations of the vending machines and the software as per the client’s business requirements. The operations team in particular plays a vital role in ensuring that installation and commissioning of vending machines is carried out with utmost diligence. A thorough software and machine operation training is provided to the customers to ensure a good consumer experience.

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From T-shirts to Panipuris: The Oddest Vending Machines in India

Over the years Vending machines in India have become commonplace. Especially at airports, railway stations, bus stops and hospitals, vending snackables like chips, chocolates, beverages - perfect for the traveller-on-the-go. Or in offices vending a variety of coffee and tea concoctions. But are these the only things vending machines can dispense? While the digital vending machines in India are not dispensing puppies or lingerie just yet (they do in Japan!) things have gotten pretty interesting here too!

The team at Vendekin Technologies has travelled far and wide for research and to install our smart, cashless and touchless vending machines in India and globally. Here’s a compilation of some of the oddest and most interesting vending machines we have come across in India:

Panipuri Vending Machine

A Delhi man has made a touchless golgappa vending machine that dispenses these scrumptious water balls, also known as panipuri, completely sans human contact or touch. From golgappa or product selection to cashless payment to the final dispensation of golgappas — the entire vending machine operation is touchless, says Govind, who has custom designed and developed this contactless vending machine in India.

All you have to do is scan the QR code and make the payment. Once the payment is done, the machine will dispense a sealed pack of golgappas. The pack contains a glass for keeping the mouth-watering flavoured water from four available options — sweet, spicy, hing and mix.

Similarly, a person from Banaskantha district of Gujarat invented a contactless panipuri vending machine. The machine dispenses a panipuri once the user selects the price of their panipuri treat, and inserts the respective cash into the machine. A few seconds later, the vending machine opens a flap underneath the keyboard and out comes a mouthwatering panipuri onto the conveyor belt.

T-Shirt Vending Machine

Vending machines in India only dispense quick food items right? But this Vendekin-powered smart vending machine in Pune sells t-shirts! Installed at Westend Mall in Pune by Universal Classic Tshirts Co., this customised, unmanned "t-shirt shop" has turned many heads, generating organic interest in the brand.

Apart from being an unmanned store, what makes this vending machine even more attractive is the price range and variation of the products. With prices starting at Rs. 399 and an option to choose from 8 different types of t-shirts, this vending machine has become quite the crowd-puller in this Pune mall.  And like all the Vendekin-powered custom touchless vending machines in India, it accepts digital payments, supporting all major payment platforms and e-wallets.

Paan Vending Machine

Pune-based Shaukeen Paan sells their wide range of paans through Vendekin-powered smart vending machines. They were inspired and impressed by the fully contactless vending machine at Chitale Bandhu, also powered by Vendekin. Vendekin Technologies’ team guided them through vending operations and even suggestions about the ideal packaging of their product for the machine. This is perhaps the first contactless vending machine in India selling paan. During the several lockdowns, even as a majority of shops and businesses were shut, this Shaukeen Paan digital vending machine in India would stay operational 24X7, ensuring no stoppage in the sales. Curious as to what mechanism this custom touchless vending machine in India uses to dispense paan? Read our earlier blog detailing the entire journey of how this digital paan vending machine came to be!

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In Conversation with Varun Shah - Co-Founder, Vendo Systems

In this edition of In Conversation, our interview series, we got talking to Mr. Varun Shah, the co-founder and partner at Vendo Systems, a Pune-based vending machine operator, who uses Vendekin Technologies’ smart and touchless vending machine technology in India to power his vending machines. Mr. Varun shares his experience of introducing smart vending to various residential societies and corporate houses, the challenges they have faced and what they look forward to in future with their smart vending business. Excerpts from the conversation:

Please tell us about your business. How and why was Vendo founded? Can you please tell us about yourself?

Vendo was originally the brainchild of Sohel, a dear friend, who I have known for 8 years now. Both of us had our own businesses, I was into the events industry while Sohel ran his rolling paper business. The pandemic-induced lockdowns made us realise that our current businesses cannot be run remotely. Sohel was looking for newer opportunities when one of his cousins introduced him to Aroon Khatter, founder of Vendekin Technologies. Sohel saw potential in smart unattended retail. and started Vendo in December 2020 and soon after in January 2021, I came on board. Since then, all our machines have been powered by Vendekin.

Why did you choose to go into the unmanned vending retail business over other opportunities in retail?

We saw that during the pandemic, people started taking their health and related safety precautions very seriously. We also noticed that there were no provisions for availability of essential products on a 24X7 basis. We saw this as an opportunity to introduce vending machines or unmanned retail as a solution that fills this gap, fulfilling the customer’s need for both safety and convenience. Powered by Vendekin’s intelligent vending machine solutions in India, these smart vending machines can dispense snacks, beverages and other essentials any time of the day or night. Plus the consumers can pay for it via cash or through a completely cashless and touchless digital transaction on their phones.

How many places in Pune are your vending machines located in right now?

We started off small with 3 smart vending machines. And now have 14 Vendekin-powered vending machines spread all across Pune in Maharashtra. This was possible because Vendo was handheld by Vendekin during its initial days in the industry on all crucial aspects. Our first installation was in a residential society named Rohan Kritika, followed by Rohan Mithila in Pune.

Apart from these, we have also manage some of the best digital vending machines in the Pune offices of Resalary and Webasto

Any key takeaways on your experience working with residential complexes vis-a-vis corporates?

Both were obviously vastly different experiences for us at Vendo. Residential complexes and their governing bodies require a lot more convincing and explaining on how the machine operates, its benefits and its ongoing usage and maintenance. Corporates, on the other hand, are familiar with the concept of unattended retail and vending, so they already have a budget for such installations. The large number of people in their offices, which in turn means high volumes, makes unmanned retail an ideal option. One benefit of working with  residential complexes is that it gives us a chance to educate and engage with their residents, a majority of whom work with large corporates, and therefore could be future clients or decision-makers as well.

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Stories from Vendekin's Second Outing At the Retail Leadership Summit (RLS) In Mumbai

Vendekin Technologies participated in the Retail Leadership Summit (RLS) 2022, organised by the Retailers Association of India. This was the second instance where Vendekin participated in the RLS, the first time in 2020. The vending machine industry is one of the most crucial segments of the retail industry, also known as the unattended or unmanned retail. Vendekin Technologies took part in this prestigious event with two goals in mind.

1. To study and understand the winds of change in the retail industry post opening up of markets after removal of Covid-19 lockdown restrictions.
2. To showcase the vision that the future of retail is Instant Commerce and how we’re pioneering it with the best vending machine management software in India and globally.

The Future is Instant Commerce

Our founder Mr. Aroon Khatter presented Vendekin’s POV of the future of retail in India and globally and everything about Instant Commerce (Vcommerce) on the second day of the summit held at the Westin Mumbai Powai Lake.

Instant Commerce is the natural extension of QCommerce or Quick Commerce (Swiggy Instamart, BlinkIt, Dunzo), which has grown from Ecommerce. The internet gave us all the gift of convenience, where one could be sitting in the safe and comfortable confines of their homes and ordering what they desire through online shops. While Ecommerce ensures our products are delivered to our doorstep within a couple of days or purchase, Qcommerce bridges that gap by establishing a robust local ecosystem of vendors that can fulfil the needs of the end consumer within a few hours. Instant Commerce, or we love to call it, Vcommerce (Vending Commerce), is the future, which brings the store to the customer with smart cashless vending machines solutions in India powered with the smart tech of online payments, touchless user interface, and a digitally managed inventory for the retailers and vending machine operators.

Giving RLS an experience of VCommerce

Our marketing and customer success team too participated in this summit. Vendekin Technologies booth had its latest smart vending machines on display, which gave the visitors a first-hand experience of Instant Commerce. We noticed that this year’s summit had a lot of first time attendees, and the ones who interacted with our teams were delighted by the power of Vcommerce, smart cashless vending machines solutions in India, the platforms we provide, like vNetra for retailers to manage their vending machine operations effectively, digitally and the scalability it provides to their businesses on how to go from 10 to 2000 machines spread all over the country.

We also attended some interesting talks and panel discussions at the event, which gave us an interesting POV, since there were several shifts in perspective in the retail industry that were clearly evident right from the opening keynotes to the offerings of the several exhibitors at the event.

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In conversation with Mr Ajit Nair, VP Product at Vendekin Technologies

Continuing with our In conversation… series, this time we decided to sit down with someone we all know as an ocean of knowledge when it comes to the product development of smart vending machines at Vendekin Technologies.

We got talking to the Vice President of Product, Mr. Ajit Nair, an expert in product management and network security, about his vision of making the retail vending experience a truly touchless and cashless experience that works seamlessly across a user’s multiple devices. We also spoke about his philosophy of innovation, product development and the future of vending and Vendekin!

How did it all start for you?

As a child, I was interested in building and repairing things at home. That's where the builder mindset kicked in for me. Over the years that builder mindset shifted to building products for

1. Telecommunication grade Signalling stacks to Billing and Charging stacks, handling millions of calls and billing data daily
2. Network Security stacks
3. Telecom Virtualization products and finally
4. Consumer Applications and SaaS Enterprise software

Subconsciously this builder mindset then shifted to a common thread, i.e every piece of work that was done did make a difference to those around me.

The difference could be in the form of helping people connect with their loved ones, creating systems where people could share their private information to access services without worrying about their data’s security, or even ensuring that a late hunger or craving could be fulfilled late in the night without having to rummage for cash through cashless and touchless smart vending machines.

The shift in mindset has also made me realise how to strategize about a product for the future and make decisions according to what a consumer would look for as a natural progression for the service. This forward-looking mindset has helped my love for building products grow alongside the intention of building a sustainable business. With Vendekin Technologies, the learning has not just been quick but also helped me grow as an individual. To be agile and resist making decisions based on gut, instead relying more on data received from the product and its users.

What technologies do you work with and what products have you developed so far?

I have worked with technologies like microservices architecture, cloud, networks, React JS, JavaScript, Typescript, scalable systems and even old school tech programming languages C, C++. Right from writing code for low footprint systems to large scale systems. Bottom line, I enjoy writing code and building systems that put a smile on the face of the consumer.

The products I have developed so far include SS7 stacks (Signalling System for PSTN), telecommunications mediation product for billing and charging, network security stacks like SSL, IPSEC, EAP, IKE, PKI - Certificate Management, securing a popular gaming console, secure policy management (MAM, MDM) for mobile phones and consumer mobile applications and SaaS Enterprise software for unmanned retail.

What is your philosophy of innovation in product? Enhancing user experience or making operators' lives easier?

As a smart vending machine company in India, end-users and their aspirations are the central theme at Vendekin Technologies when it comes to creating products. This is a philosophy that emanates from Aroon Khatter (Founder and CEO), right down to the teams like product, marketing and sales.

To explain this philosophy further, let me give an example. We have around 30 million cabs in the world today providing services of moving people to move from one location to another. There are at least 10 major platforms bridging the gap between these commuters and cab service providers, such as OLA, UBER, GRAB, LYFT etc. Now imagine, there are around 100 million unattended retail kiosks but no one platform to connect consumers to these machines. That is the problem that the Vendekin’s product team is focused on solving. That of creating smart vending machines. The opportunity is immense with layers of complexity in solving it.

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vNetra: Making Vending Operations Seamless & Digital

The future of retail will be a bouquet of sales channels from ecommerce to quick commerce to instant commerce with vending and yes, even brick and mortar stores. With pandemic induced realities, unattended contactless retail through vending machines will demand a larger and larger chunk of this pie. As these vending transactions become more and more a reality, the key factor will be being able to strategize for maximum profitability with smart management of vending machine operations. And vNetra software, powered by Vendekin, is one of the best vending management software, making cashless and touchless vending solutions a reality all across in India. Here's how!

But before we understand more about vNetra, let’s understand why there is a need for a seamless management platform for EVOs (Existing Vending Operators) & NVOs (New Vending Operators).

The three main reasons why vending hasn't quite taken off in India yet :

1. Lack of digital payment option
2. Lack of digitization of the backend vending operations
3. Limitations of gross margin

Vendekin has been solving these problems sequentially, starting off with the Retrobox device, which upgraded old-school and clunky vending machines smarter and more conveniently, by making cashless and touchless transactions possible.

Next came digitising the supply chain or backend vending operations through vNtera. Digitising can reduce leakage, spillage, which currently in the vending industry costs up to 8 to 10% of a vending operator's stock line. It also brings about more efficiency.

The first module we developed on the vNetra was for the operator to know what is being sold on his/her machine, how it is being paid for. We started to think about how we can be digitising all processes in the back end operations.

But managing the entire process has always been a pain for vending operators. This, because there were many stages where manual involvement was required, whether it was from the perspective of inventory, stocking, or sales and cost management.

What is vNetra. How did the name come about?

vNetra is a Google Cloud powered, GDPR compliant, AI/ML driven back office vending management software for operators and brands to remotely track sales and manage vending machine operations at their fingertips anytime, anywhere in the world!

The name vNetra originally came from a Vendekin team member. The word Netra meaning “eye” in Sanskrit, which fits the bill since vNetra helps the operators have a birds eye view of their vending business operations digitally. Once the Retrobox goes in, the data transfers to the cloud and the operator can access this data through vNetra.

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In conversation with Pranav Kumar, General Manager - Design & Development at Godrej & Boyce

Scan – Select – Pay – Enjoy!

That’s how employees of corporate offices with Godrej & Boyce’s smart vending machines get their coffee and snacks at work, without having to carry jingling loose change or a wad of notes for exact payments of their coffee or tea.

And this touchless vending machine experience in India is increasingly being powered by Vendekin Technologies for leading integrated vending service providers such Godrej & Boyce. Their vending arm, Godrej Vending has used Vendekin Technologies powered solutions to upgrade their vending machine technology to further strengthen their corporate vending solutions and be ready for the touchless and cashless future of unattended retail. Pranav Kumar, the General Manager of the Design and Development at Godrej & Boyce talks about this journey and what is to come…

Please tell us a little about yourself and Godrej & Boyce.

Godrej & Boyce Limited is one of the biggest companies in India in multi-technology products. One of the products we design and manufacture are beverage vending machines. We are in the business of table-top tea and coffee vending machines, and we sell our machines in the domestic as well as international markets like SAARC countries, the Middle East, South Africa, Canada and even USA. We build a wide variety of machines, which can dispense beverages like tea, special and instant coffees, and some specially designed machines even dispense oatmeal.

Our machines have got very good acceptance by customers, due to its technology, flexibility in usage, quality of the output (product) and the varieties we offer in them.

How did the association between Vendekin Technologies & Godrej come about?

We at Godrej & Boyce are entirely into the development of technology for coffee vending machines.  We were looking for a technology partner to provide us with a tech platform to integrate digital payment systems, cloud computing, and IoT (Internet of Things) in our vending machines, in order to make life more convenient for our end-users. That's when we came across Vendekin, who have created an excellent ecosystem of future-ready smart vending machine technology in India. We tested Vendekin's technology with our machines and found them to be flexible and easy to integrate. It took us hardly a month to integrate all our tea and coffee vending machines with Vendekin's tech. With our machines and Vendekin's smart systems, we were able to offer digital payment gateways (for commercial coffee vending machines), consumption reports, inventory management, machine health alerts and many customer-centric offerings to our clients.

How easy was it to set up a Vendekin device on your existing vending machines?

We found that Vendekin’s technology is ready for integration with any kind of vending machine, from the basic machines to the more premium ones. Integrating Vendekin’s technology into our machines didn’t require us to make any sort of changes to our systems or the machines itself. It was as easy as plug and play into our systems.

How do Vendekin powered machines differ from the normal ones?

The machines without Vendekin’s technology are free-vend machines, which means they do not really have any payment systems in them. After integrating Vendekin’s smart vending technology with our machines, they became digital-ready and equipped with digital payment options for India and international markets too. So we were able to offer our machines to our international clients too with digital payment options integrated with payment gateways accepted in their countries.

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Retrobox - The booster shot of smart tech for traditional vending machines

Traditional Vending Machines - Just a simple box with snacks

So what comes to mind when someone says vending machine? A large glass and metal box placed conveniently in a corner, with some brightly packaged snacks, plastic beverage bottles. Or maybe the vending machines that you are thinking of are those table top machines, commonly found dispensing tea or coffee in office pantries. Or perhaps you are thinking of the ticket dispensing machines at metro stations. While the products being dispensed may vary, all the vending machines above usually accept currency notes, coins and cards and allow for punching in the product code through some buttons or a keypad.

All in all, a vending machine would seem to be a simple mechanical box with limited payment options to make a purchase using cash or sometimes a debit or credit card. These machines also have a high chance of a lost sale if the customer walks away if he/she doesn't have the exact amount of cash on them, or if their card fails to swipe or be detected for some reason or if they do not wish to swipe/tap their card multiple times to get multiple products.

With the Retrobox, Vendekin Technologies is bringing transformation into the vending machine business, making these older, simpler and clunkier vending machines smarter with a touchless, ‘shopping cart’, mobile purchase experience with multiple digital payment options.

So what is Retrobox?

Retrobox is a palm-sized plug-and-play device created for vending machines by Vendekin Technologies, used by smart vending machines suppliers in India, US, Europe, UAE and other countries. It is compatible with all Multi Drop Bus (MDB) versions and can be set up in less than 10 minutes. The Retrobox acts as an interactive controller device, managing the execution activities through customers’ mobile phones. It can be placed inside the old machines by simply connecting the MDB, DEX and Keypad cables of the machine, without having to make any cosmetic changes on the exterior. The machine looks the same but operates more smartly and efficiently.

What made managing the older vending machines cumbersome?

Missing Innovation

• Older machines need a GSM telemetry device to transfer data. With the 3G sun setting upon 2022, these devices have to be upgraded to run on 4G and 5G networks.
• There are usually only two payment options available in older vending machines, either cash and card.

Poor Consumer Experience

• These machines dispensed only one product at a time.
• Older machines require currency change management to accept physical currency
• Contactless cards have limitations in terms of number of swipes/taps in a day

Operational Inefficiency

• Running and maintaining cash equipment comes at a high cost.
• Card readers, cash acceptors and telemeters are expensive to set up and maintain.
• Existing back office operation management softwares do not provide in-depth data analysis for the entire operation.

Today, if vending machines and kiosks do not support all forms of mobile cashless payments, the operators could be missing out on an extra 20% in sales. That’s where Vendekin’s Retrobox provides the booster shot of smart tech, providing a one stop solution to the operators.

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