Traditional convenience stores have high rents and high labor costs. More and more friends who want to do retail choose vending machines to operate. We often say that there are businesses that do well and make money, and there are those that don’t. The same is true for vending machines. Some people make a lot of money in operation, and some people operate very hard or do not make money.
The same vending machine, why is the gap so big?
We’ve said before that foot traffic is critical to running a vending machine, and it’s the same for the entire retail world, whether in brick-and-mortar stores or unmanned.
Then some people will say, the traffic in the places I put in is obviously very good, why is there still no performance?
This is one of the misunderstandings. The greater the flow of people, the greater the probability of shopping behavior. However, on the contrary, a place with a lot of people may not necessarily have a good business. Generally, a place with a large flow of people will be more competitive. peer competition? Brick-and-mortar competition? After all, everyone wants to get a piece of the pie in a good place. In addition, the consumption characteristics and needs of the surrounding people must be comprehensively considered.
Misunderstanding 2, I will sell what others sell
The selection of goods sold by the vending machine should not be hasty. First of all, it should not be blindly followed. If the goods sold by others are good, I will also sell them. In the same way, the profit margin of products with good sales is not large, such as fast-moving consumer goods, which rely on small profits but quick turnover; on the contrary, the sales of products with large profits may not be so high, but it does not mean that they are not profitable. The selection of vending machines needs to be determined based on the consumption characteristics and needs of the consumer groups at the point. To put it in layman’s terms, we will sell what customers may need more at this location, so as to achieve a better profit.
In the early stage, you can do more market research and step-by-step analysis of which products are more popular and sell them comprehensively. In the later stage, you can analyze more competitive and better-selling products according to the background data of the machine, and then remove the products with poor sales. In order to avoid bad sales and take up space in the cargo lane, this is the choice of machines to sell goods.