Vending is set to continue to see solid current value growth in China over the forecast period as consumer footfall returns to normal post-pandemic. Retail spaces, transportation hubs, and other high-traffic areas have been seeing the return of crowds, which will provide vending operators with a boost.
Nevertheless, the current value growth rates expected for vending in the forecast period are projected to be lower than those seen pre-pandemic, as the channel is likely to see increasing competition from convenience stores. The penetration of convenience stores is expected to continue to rise in China, and convenience stores offer a wider range of products and services than vending, such as fresh food, which is seeing rapid growth.
Smart vending is gaining popularity in China, and this trend is expected to continue in the forecast period. Smart vending machines are equipped with advanced features such as cashless payment options, internet connectivity, real-time inventory management, and customer data analysis.
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Vending (automatic merchandising) is the sale of products at an unattended point of sale through a machine operated by introducing coins, bank notes, payment cards, tokens or other means of cashless payment. Sales figures cover vended products only (i.e. food, drink and other consumable goods such as vended tobacco, sanitary products and condoms). Services such as the public telephone, launderette facilities, travel tickets, stamps, passport photographs, domestic energy supplies and business card creation are excluded. Coverage includes vending systems installed in public and semi-captive environments only. Hotels, transport networks, recreational centres, shopping centres/malls are included. Factories, offices, hospitals, prisons, schools and other captive environments are excluded.
See All of Our DefinitionsThis report originates from Passport, our Vending research and analysis database.
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