Following two vending and two payment systems acquisitions in 2006, Merchandising Systems is modernizing and energizing the vending machine industry while continuing to grow its payment systems business. Although vending is a huge retail channel, distributing multi-billion dollars worth of goods each year, a lack of innovation combined with inflationary operating conditions have stagnated vending machine industry sales in recent years. Merchandising Systems saw these problems as an opportunity to revitalize an important retail distribution channel.
Now new glass-front cold drink vending machines are showcasing and selling a customizable mix of product sizes and shapes driven by consumer demand. In addition, Crane innovation has introduced enabling technologies to improve profitability of vending machine operators. These include revolutionary bill recycling payment systems that return change in $1, $5 or $10 bills in lieu of large amounts of coins. Enabling higher value transactions and enhanced consumer convenience increases sales of machines equipped with this capability 15% more than those that return change in coins only. Another innovation is the integration of wireless technology with vending management software to remotely monitor machines for route scheduling and service needs, providing customers both cost savings and increased sales from having the right products, at the right place, at the right time and in the right quantity.
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