NAMA Report: Technology Rapidly Changing Vending Industry AVT is a Leading Integrator of Smart Technologies in the Vending Industry
CORONA, Calif., June 11, 2014 /PRNewswire/ -- AVT, Inc. (OTC Markets: AVTC) (www.autoretail.com), a leader in custom vending machines and automated retailing systems commented today on the Technology Report from the National Automatic Merchandising Association's OneShow in Chicago.
As reported in Vending Times Magazine, Dr. Michael L. Kasavana, the National Automatic Merchandising Association endowed professor of hospitality business at Michigan State University's Eli Broad College of Business, moderated a panel session on "Enhancing Technology Performance" at the 2014 NAMA OneShow.
AVT was one of the first companies to integrate Smart Technology into vending machines. The company offers patented and proprietary systems that provide a vast range of customizable self-service solutions, many of which have helped changed the landscape of the vending and retailing industries.
Kasavana told Bloomberg Businessweek that adding Smart Technology to a vending machine could lift sales by 25–30%.
"The industry continues to change rapidly, affected by a profusion of alternate payment systems, digital media, touchscreens and network applications," the article stated. "Especially noteworthy has been the arrival of enhanced consumer interfaces that, among many benefits, can help in product marketing."
The introduction of more sophisticated customer interfaces on vending machines has given the industry new tools for studying consumer behavior. This interactivity with the customer makes it possible to test the effect of a change very quickly.
"We can now measure details never before possible," said James Winsor, CEO of AVT, Inc, "We know the number of consumer touches that are converted into sales, and if a customer completes or abandons the transaction. These are metrics that large online retailers like Amazon pay very close attention to, and now can be tracked in our vending machines – providing owners with exceptional reporting and the ability to test products and prices in real time."
For more information on AVT, their patented vending technology, custom vending machines, or Smart Vending Technologies, call (877) 424-3663, or visit: www.autoretail.com.
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AVT (ticker: AVTC), has a 15-year track record of success and innovation, providing custom solutions to companies seeking an automated platform to increase sales, expand distribution, control lift, lower overhead, and enhance brand awareness.
SOURCE AVT, Inc.