Monday, January 25, 2010

How Can Customers Influence Vending Business

Nowadays we hear corporate world taking a lot about KYC. What is this KYC? The abbreviation of KYC is “Know your customers”. This concept is very vital especially for vending business since this is completely customer oriented business. Operators need to understand customer needs and requirements in order to make their business a big success.

Over the past few years, it has been observed that customers are attracted towards vending machine because of the convenience it offers both in terms of saving time and effort. Since its inception, more and more people are relying on vending machines for various reasons. This billion dollar industry is successful in catering to the needs of customers of all age groups across the globe. These machines are able to supply their customers with just about anything they need.

Hence, before you start your business, it is imperative that you know your customers and understand their requirements. Ask your self a few questions like what would be the right location for my machine? Whom should I target? Which markets are perfect for setting up my business? What can lure a customer and create an instinct to purchase? Products such as candy and cool drinks target children of all age groups. While energy drinks and snacks are more appealing to youth? Working men and women would be more interested in healthy snacks or some other kinds of refreshments.

Right kind of location is another important factor that needs to be considered while locating a vending machine. Competition is severe in this industry, so operators should never compromise on the quality. Always try to start your business by purchasing a brand new vending machine from reputed companies like Planet Antares. Since this functions efficiently, it will ensure that the customer never returns empty handed after visiting your machine. Also make sure that you stock your machine with sufficient quantity of stock and ensure there are no repairs and break downs. This will prevent inconvenience to customers and make them happy.

These things if born in mind can make your customer remain loyal for a life time.

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