Vending Industry Report Indicates Growth Ahead New Technologies Help Transform Consumer Experience, Fuel Promising Future
CORONA, Calif., Nov. 19, 2012 /PRNewswire/ -- AVT, Inc. (Ticker: AVTC) (www.autoretail.com) commented on the recent "State of the Industry Report" recently released in Automatic Merchandiser. Several of AVT developed systems are and technologies are among the types mentioned in the report as providing the fuel for industry growth.
"Technology is playing an ever-increasing role in the transformation of the consumer experience at the machine to deliver the convenient and interactive encounter younger consumers expect," said Dan Mathews, Executive Vice President and COO of NAMA (North America Merchandising Association). "These innovations both benefit consumers and provide operators increased efficiencies and growth opportunities."
Leading machine manufacturers such as AVT are implementing sophisticated innovations, including cloud computing, transaction flexibility and target marketing capabilities built into machines. Also, leading suppliers like Kraft Foods® are integrating facial-recognition technology into their latest vending machine prototypes. Major technology providers, including Intel® and Cisco Systems® are also entering this arena and designing solutions for vending, according to the study.
The most dramatic development is the surge of automated retailing centers. These self-checkout stores provide customers with an array of products, including perfume, electronics, clothing, food and beverages, medicine, sunglasses and more. The easy-to-use touch screen kiosks are designed to accept a number of payment options such as credit/debit cards, stored-value cards, key fobs and more. Sophisticated systems that dispense sensitive items even can be equipped with fingerprint recognition scanners to assure consumer identity. Web-based, 24-hour surveillance enables operators to access live feeds at any time of day or night, or view recorded footage as necessary. Some of the kiosks are also equipped with around-the-clock customer support allowing end-users to resolve issues on the spot.
According to a Frost & Sullivan research study published by Intel, "Global shipments of intelligent vending machines are forecasted to grow at a 49 percent compound annual growth rate from 2010 to 2016."
"With these kinds of numbers, we couldn't be more excited about this revitalization," said Mathews. "New machines, products and technology are emerging every day, and the future of vending and refreshment services is very bright."
For more information on AVT and the fast growing automated retailing sector, please contact the Investor Relations Department at 800-240-5175 or visit AVT's website at www.autoretail.com.
AVT, Inc. is a high quality leader in the automated retailing industry, offering technology solutions at 50% less than the best-known competitor.
AVT is able to work with any size company to design a custom automated retailing solution that drives traffic, increases sales, improves security, and lowers overhead. With an in-house design team, software developers, mechanical engineers and on-site manufacturing, AVT can take projects from concept to completion with speed and cost efficiency.
AVT's stock is traded through the OTC Bulletin Board Markets, Ticker Symbol: AVTC.OB.
For more information on AVT, custom vending, or the Automated Retailing Industry, visit www.autoretail.com.
SOURCE AVT, Inc.