Vengo Labs has changed the look and perception of what vending machine services can offer. The company, which was featured on ABC's hit show "Shark Tank," has taken a new approach to an old idea. Their wall-mounted vending machines serves up anything from a pack of gum to digital ads.
With machines at locations like New York University and Hyatt Hotels, the ads are able to target specific audiences. "We're able to adjust content and messaging in real time based on where media and the product are taking place," says Brian Shimmerlik, founder and CEO of Vengo.
The machines are sleek in design and fit nicely into the wall. It's no wonder why high-end locations like them.
As companies like Mondelez and Hershey are facing declining sales, new marketing tactics are on the table. Enter Vengo. When customers choose to buy a product from a Vengo vending machine, it plays an ad on its digital screen. The goal is to increase impulse purchases such as candy or other snack items. The outlook on the service is positive, as brands pay Vengo $200 a month per product, per machine.
More recently, Vengo has partnered with one of Blackstone Charitable Foundation's programs to bring their machines to colleges and universities across the United States.
Will this be the future of vending services?