The use of cash has been in decline for some time and coronavirus has accelerated this dramatically. A recent survey by Link shows that 75% of people are using less cash with a further 54% saying they have been avoiding cash since lockdown began.
As we move out of lockdown and adapt to life post-pandemic we’re all aware of maintaining social distancing where possible. We’re already seeing retailers encouraging shoppers to pay by card, with many restaurants and eateries also doing the same to reduce passing money from person-to-person.
For many of the organisations we work with, revenue from on-site catering facilities is essential and finding a way of maximising this as safely as possible post-pandemic is going to be hugely important for both the bottom line and employee wellbeing.
As part of the catering offering, vending remains a popular option. Technavio announced in their ‘Global Vending Machine Market 2019-2023’ report that the vending market is predicted to accelerate at 17% per annum, with one of the key drivers for this being the improved customer experience. Vending machines offer full control over purchases, the opportunity to streamline operations and allow consumers access to food and beverage items around the clock from catering facilities.
Combine vending with the decline in cash we’re seeing a sharp increase in organisations looking for contactless vending options. Contactless vending is essentially where an integrated contactless payment method is installed on a new or existing machine and enables users a hassle-free, tap and go experience with very little – if any – human contact.
The benefits to consumers are vast – reduced queue times, access to refreshments at any time and no need to venture out of the office unnecessarily. For organisations, it can reduce resource requirements and remove the costs and inefficiencies associated with maintaining coin acceptors and cash handling. It also captures valuable transaction data – which in turn can inform which products are most popular, sales figures and ensures a well-managed stock control solution.
Contactless vending is compatible with mobile wallet apps such as ApplePay, Google Wallet and AndroidPay as well as debit and credit cards, making it convenient and very user friendly.
We’ve worked with many organisations across multiple sectors including B&I, Finance and Leisure all looking to integrate contactless vending into their foodservice offering. Pre-pandemic this was popular as it gave organisations an additional income stream and post-pandemic it’s likely to become even more popular than ever.
There is no doubt that the world is a changed one – at least for now – but that does not mean businesses can’t adapt their operations, continue to serve their people and grow their revenue.
To hear about the contactless vending or how we can help you transform your business operation contact us on info@systopia.co.uk