24/7 Micromarkets Are Continuing to Improve! Here Are Some Industry Innovations

    [fa icon="clock-o"] May 30, 2023 1:34:00 PM [fa icon="user"] Vending Group [fa icon="folder-open'] Workplace, Multifamily Housing, Customer Experience

    We know it seems like we’re obsessed with micromarkets, and it’s basically because we are! 24/7 access to healthy food either in a national hotel chain or an office space is so important, and 24/7 micromarkets make it so easy and affordable for everyone involved!

    Somewhere between a vending machine and a full-sized café or store, a micromarket is a new self-service and self-checkout retail solution. Right now, they are most commonly used in closed environments - in offices or university spaces. However, across the country, there are growing opportunities for micromarkets in public spaces too. And now, with technological advances, their availability will surely become even more widespread. So let’s look at how 24/7 micromarkets are evolving and what it may mean for your vending strategy…

    Emerging Trends in Micromarket Innovations

    According to CCV, a Dutch international payment provider, micromarkets so far only account for 5% of the vending sector, but data shows that this segment is growing fast. Not only are people constantly seeking out ever more convenient ways to consume food and drinks, but the integration of artificial intelligence and machine learning with 24/7 micromarkets is making managing the markets all the more simple. 

    Just last year in Dallas, the American  Airlines Center, home to the NBA’s Mavericks and NHL’s Stars, introduced a micromarket completely powered by technology. Here’s how it works: Fans enter the market and quickly download a mobile checkout app. Once ready, they shop, tap to checkout via the app, and go. It all happens without waiting in any lines. Using AI-powered cameras and mobile payment technology allows for a checkout-free system that registers what products fans select and enables them to pay without waiting or scanning. While we may miss chatting with the sports fan on the other side of the counter, this technology is certainly a game changer! Transactions are so much faster, enabling event-goers to get back to the entertainment instead of waiting in line.

    With the introduction of technology, 24/7 micromarkets are also more sustainable and eco-friendly than ever before. A traditional cafeteria or food market requires stout cooking equipment and a range of electronic appliances such as kitchen lighting, heating, and cooling. Micromarkets run on energy-efficient LED displays and special glazed glassed fridges with energy-saving or sleep-mode that can further save operation energy.  They can also refill as needed with remote stock monitoring technology and a smart checkout system showing constant stock levels to minimize unnecessary wastage. It’s amazing how much more efficient a micromarket can be!

    Finally, another factor that people love about 24/7 micromarkets is 24/7 access to HEALTHY food options. Unlike traditional vending machines stocked with unhealthy snacks and sugary beverages, micromarkets offer a wide range of healthy food options catering to different dietary preferences and needs. These mini convenience stores feature fresh produce, protein bars, low-fat yogurt, and other nutritious snacks that are perfect for people on the go who are looking to make healthier food choices. 

    Additionally, micromarkets offer an open and transparent shopping experience, allowing customers to read labels and ingredients before making a purchase. This level of transparency and variety of options helps people make informed decisions about what they are putting in their bodies. Micromarkets also offer the convenience of being open 24/7, making it easy for people to access healthy snacks anytime they need them. Overall, micromarkets are an excellent resource for promoting healthy snacking and supporting healthy lifestyles.

    Impact of Micromarket Innovations

    There are a few ways that micromarket innovations are helping to improve sales and the customer experience across market locations. 24/7 micromarkets offer a wider variety of products and a more personalized shopping experience than traditional convenience stores or vending machines. With micromarkets, customers have access to fresh food, healthy snack options, and a wider range of products to choose from. In addition, micromarkets often feature advanced technology, such as mobile payment systems, touchless kiosks, and automated inventory tracking, which make the shopping experience faster, more convenient, and more efficient.

    Overall, micromarket innovations have the potential to significantly improve the customer experience, increase efficiency, and generate valuable data for businesses. However, they also come with their own set of challenges and require careful planning and implementation.

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    Vending Group

    Written by Vending Group