How COVID-19 Will Affect The Vending Machine Business!
If you don’t live under a rock, you know the virus that is sweeping nations around the world. This pandemic affects each and everyone of us in one way or another. In this article, we will discussing the impacts that COVID-19 has on the vending machine business industry.
Vending machines are self automated retail fronts that are popping up more and more around the globe. Places like Tokyo, where the entire economy is based on vending machines and not paying labor for various goods. In the United States, where I am based, and what economically I will be focusing on, has had a greater impact.
100 million people in the United States are on lockdown due to this pandemic that is sweeping our nation and many others. If 100 million of 400 million people are locked down(1/4), vending machines are not being used as much. As well, most locations in some states have began shutting down nonessential business to combat this virus. 85% of my vending accounts are closed down here in New York. The outbreak is the worst in New York City.
What does this mean for the vending machine business?
Well, for one thing, this will usually impact the sales of all vending machines around the world. People will not be around or out the house to even think about buying something from a vending machine. Sales will plummet, but is that really a bad thing for business? It depends.
For my business, personally, I have obviously been forced to self-quarantine, meaning any locations still open, are only making money via credit card sales, if any. The vending machine business is drastically affected by this virus, but so is every person and almost every industry besides Lysol wipes and hand sanitizers.
If you were looking to start a vending machine business, don’t panic, but also wait to start your business. This is not a good time to start, but once we have some clarity on the growth the virus across the nation, we can start to begin placing machines. For now, focus on building a vending business around essential businesses, nothing more. If you want to assume these viruses will come again, you should prepare for it.
Here is a quick video on me discussing something similar to this article.
Godspeed to you all and stay healthy.
