Vending retail becomes more experiential through non-monetary transactions
Implications - Though hailed for its convenience, vending retail has evolved to become more experiential over time. Swapping traditional monetary transactions for something more activity-based not only aligns the brand in question with core consumer values, such as health and wellness, but also helps consumers achieve their goals. Brands that actively support and incentivize their consumers will succeed in gaining their respect.
Workshop Question - How would you turn your brands offering into an active experience geared toward self-improvement?
Trend Themes
1. Experiential Vending - Swapping traditional monetary transactions for something more experiential will help align a brand in question with core consumer values and gather consumers' respect.
2. Sustainability Incentivization - Brands can encourage customers to behave in more sustainable ways by incentivizing them with activity-based methods instead of monetary transactions.
3. Interactive Vending Machines - Designing vending stations with interactive features or new types of payment can create experiences that go beyond simple product transactions.
Industry Implications
1. Vending Machine Manufacturing - Manufacturers should look to incorporate technology or new interactive features in vending stations, exploring payment alternatives that align with the brand's purpose.
2. Sustainability Consulting - Sustainability consultants can work with companies to find interesting ways of encouraging customers to recycle and behave in more sustainable ways through incentivizing them with non-monetary activities.
3. Marketing and Advertising - Marketing and advertising companies can help brands create engaging brand stories by incorporating innovative vending experiences which can showcase the brand's purpose and core values.
