What are the factors for the outbreak of unmanned vending machines? How is the vending machine market?

Unmanned vending machines first appeared in the United States in the 1960s. As an unmanned retail method, they appeared in everyone's field of vision. The sales venues are also very broad. They developed rapidly in some developed countries and became the main retail method. In Japan, 70% of canned drinks are sold through unmanned vending machines, and each person spends more than $400 a year on unmanned vending machines. In 1993, China began to import vending machines from Japan, South Korea and other countries and put them into the Chinese market. In 1995, the first unmanned vending machine was born in China. In 1999, it was mass-produced and put on the market in batches. In the next ten years, due to the limitations of equipment costs, people's consumption concepts, business environment and other conditions, the development of my country's vending machine industry will be slow. According to the historical experience of developed countries, when the per capita GDP exceeds 10,000 US dollars, the demand for unmanned vending machines will surge. As consumers' disposable income increases, the demand for unmanned vending machines is also expanding. There are three major factors driving the outbreak of the unmanned vending machine industry: wages, rent and technology. It is not difficult to find that the labor cost has been getting higher and higher in recent years. In the ten years since 2005, China's labor costs have increased five-fold and are 15 times higher than in 1995. Human labor is an integral part of the traditional retail process. The rise in employee wages has led to increased costs in all links of the retail chain and compressed profit margins. At the same time, since 2005, housing prices across the country have risen sharply, and land rents have continued to rise. Taking Shanghai as an example, the commercial rent in Shanghai has increased at least eight times in ten years, and the cost of opening a store has surged. Under the impact of e-commerce, labor costs and leasing costs, the life of physical retail enterprises is getting more and more difficult. Unmanned vending machines have the advantages of not being limited by time and place, occupying a small area, and saving manpower, avoiding the pain points faced by physical retail stores today, and becoming a very promising retail model for many dealers. In addition, as a high-tech intelligent product integrating sound, light, and electromechanical integration, the development of unmanned vending machines is inseparable from the update and iteration of technology. The popularity of mobile payment technology has greatly improved the settlement efficiency of unmanned vending machines and the shopping experience of consumers. Experts predict that the inflection point of the explosive growth of China's vending machine industry may have arrived, with an annual increase of more than 100,000 units in the next few years. In the mature stage, the number of unmanned vending machines in the domestic market can reach 3 million units, and the market prospect is very broad.

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