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Smart Vending

Author

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  • Michal Stojanov

    (University of Economics - Varna, Varna, Bulgaria)

Abstract

The present study summarizes the evolution in vending business with the adoption and popularity of smart vending concept. Using the methods of descriptive, situational and content analysis are represented the features and benefits of smart vending machines as a form of out of store retailing. It's spreading is the result of combining the processes of digital transformation, the transition to the circular economy model and the impact of the COVID-19 pandemic on business and society. The smart vending machine ensures a great consumer experience and commitment, but on the other hand it provides the vending operator with advanced features for precise at the site and even online management of the device, the sophisticated control of the inventories and the analysis of the clients, the possibilities of modern forms and technologies of payments and communication are diversified, the promotional strategy and the information provision of the consumers is improved.

Suggested Citation

  • Michal Stojanov, 2021. "Smart Vending," Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, Union of Scientists - Varna, Economic Sciences Section, vol. 10(2), pages 21-30, August.
    • Handle: RePEc:vra:journl:v:10:y:2021:i:2:p:21-30
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    File URL: http://su-varna.org/journal/IJUSV-ESS/2021.10.2/21-30.pdf
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    More about this item

    Keywords

    vending business; smart vending machine; intelligent machine; vending operators; COVID-19; Internet-of-things;
    All these keywords.

    JEL classification:

    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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