Five major technology trends in the smart retail industry

The Internet and digitalization are accelerating innovation and transformation in many industries, one of which is the smartphone market. Vending machines have long been a convenient and low-cost tool for shrinking entire stores to the size of refrigerators. However, until today, most vending machines have focused on collecting money, providing changes, and delivering products. Nevertheless, the vending machine industry has undergone major changes in the past few years, using smart and advanced technologies to deploy various innovations, such as touch-sensitive high-definition screens and remote device management software technologies, which go far beyond simple food and beverage distribution. . Here are some important insights from our industry experts on the market. The following are the top technological trends of new smartphones that are shaking up the industry and changing the vending experience. 1. Cashless payment Now cashless and mobile payment technologies are becoming more and more common. Nowadays, many vending machines are equipped with the standard option of cashless payment. WeChat payment and Alipay payment are the most popular payment methods used by people nowadays. 2. The interaction between smart phones and artificial intelligence Although many smart vending machines offer cashless payment options, some vendors are taking it a step further. Some smart vending machines can now interact with smartphones in real time. A customer walks to a smart vending machine. This artificial intelligence-based mobile application determines which machine it is, and then continues to withdraw real-time inventory and show the customer options on the smartphone. Recently, beverage industry giant Coca-Cola announced plans to launch new applications in the United States, New Zealand and Australia, which will allow users to order drinks from vending machines in advance. These applications will include artificial intelligence (AI) to gather more information about customer tastes and preferences for future marketing promotions. 3. Energy-saving vending machines. Recent innovations in device management applications enable suppliers to remotely detect, diagnose and repair machines. The Coca-Cola Company has launched an ultra-energy-saving vending machine in Japan that uses airtight doors and vacuum insulation materials to ensure that beverages remain cold during the day without refrigeration, consume more energy, reduce energy costs and help save the planet. These platforms provide unlimited opportunities for the vending industry to maximize profitability and productivity. 4. Facial recognition Facial recognition technology was first introduced in vending machines in 2014, and many companies have been conducting research for many years. A camera that can identify consumers. The machine then provides personalized menus based on the customer's purchase history and prevents them from purchasing restricted products (for example, underage customers trying to buy cigarettes). Many smart phone manufacturers have adopted this technology and have launched vending machines with facial recognition technology on the commercial market. 5. Self-inventory The sensors built into the smart machine collect a large amount of data, including inventory. These groundbreaking machines use intelligence to monitor their own inventory. In short, these machines can make smart inventory decisions for themselves. For example, if the temperature drops, they will know to stop ordering ice cream, thereby protecting product inventory and reducing waste and additional costs.