CORONA, Calif., April 2, 2014 /PRNewswire/ -- AVT, Inc. (OTC Markets: AVTC) (www.autoretail.com), a leader in custom vending machines and automated retailing systems announced today that Zacks Research issued an stock update. The report stated that AVT has "substantial potential" for growth.
"Secular trends for automated retail are favorable, in our view" Zacks reported. "The self-service automated retail market in the U.S. is expected to grow from $740 billion in 2010 to more than $1.1 trillion in 2015, according to the IHL Group."
"This is a market that has expanded dramatically"
The report stated that AVT is a technology company that is focused on the automated retail industry. "Over the past five years, management has developed new technologies and developed self-service kiosks," the report noted. "This is a market that has expanded dramatically. Today automated retail machines sell a wide range of products including clothing, foods, high end electronics, and even jewelry."
The report also highlighted two sectors that AVT services, which they believe have excellent potential for growth: coffee and pharmaceutical – including legal marijuana.
Regarding the Marley Coffee Automated Kiosks, "We believe that consumers are becoming accustomed to purchasing gourmet coffee though this channel," the report stated. "AVT has the early mover advantage," it added. "We believe this is a likely growth channel."
Growth in $10 billion channel
"AVT builds systems for publically traded Medbox, as well as for other companies in the medical and pharmaceutical industries. AVT worked with Medbox to integrate biometric fingerprint recognition technology into an automated prescription medicine dispensing machine," the report stated.
"The global pharmacy kiosk market is expected to reach $7.8 billion per annum by 2018, according to Pharmacy Times magazine, up from $4.7 billion in 2011," Zacks reported. That metric does not reflect the legal marijuana channel, estimated at another $3 billion.
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SOURCE AVT, Inc.