Self service, unassisted retailing -- also referred to as ‘v-commerce’ – is changing the customer experience. Publicly traded companies such as Coinstar (CSTR, $2 billion market capitalization) and AVT (AVTC) and privately held Zoom Technologies are at the forefront.
Self service applications include banking, travel, foodservice, ticketing, hotels. The trend is even broader and deeper than most people realize. For example, AVTC manufacturers high technology self service retailing machines for board shorts (surfing & swimming) and pop corn, plus rental machines for rug cleaning among other applications.
Except for AVTC and Zoom Technologies, the vending industry has been comparatively slow in adoption of innovative hardware, robust software, wireless networking, and enhancements to the customer experience. The high tech leaders are pushing the industry to reinvent itself in the near future as self-service technologies continue to evolve and converge.
An effective self-service application benefits both the customer and vending operator. For the customer, the gain is in convenience, efficiency, and ability to control aspects of the transaction (e.g., product selection and payment). From an operator perspective, it involves reducing administrative expenses while providing quality service with meaningful customer relationship management (CRM).
Self-service has evolved into an operational mode that is no longer should be viewed as merely a device-based channel for selling snacks and beverages. The placements of non-traditional products with connectivity to external goods and services are increasing in popularity.
When executed correctly, self-service technology can allow consumers a range of product choices with an assortment of methods of payment. The capabilities and features that are becoming so popular in Web-based businesses such as e-commerce and kiosk operations are viable candidates for upgrading v-commerce functionality.
As customers seek more self-service deployments throughout the business world, the vending industry needs to reignite the innovative spirit that originated unassisted retailing more than a century ago.
For more information please contact:
CNN Microcap News
Brentt Arcement- Vice President of Investor Relations
951-278-2068
chrsitaw@cnncapnews.com or visit our website at www.cnncapnews.com
*** CNN Microcap News is not affiliated with Time Warner, Turner Broadcasting or its holdings.
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