China VMF 2020 Will Offer Close Look At Booming Vending Market

Posted On: 8/14/2019

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GUANGZHOU, China -- The organizers of the 2020 China International Vending Machines and Self-Service Facilities Fair report that current trends are making the Chinese vending/self service industry extremely interesting to international visitors. Next year's China VMF is scheduled for the China Import and Export Fair Complex here from March 4 through 6 (Wednesday-Friday), 2020.

The China VMF 2020 Organizing Committee observed that the country is quickly becoming a cashless society, as vending machines that accept mobile payments through advanced identification systems are being installed by the tens of thousands. "In China, vending machines are full-service convenience stores," the committee explained.

The self-service industry has tracked the consumer market. Until quite recently, customer demand was simple, the committee recalled, primarily for cold beverages. Today though, people want "all kinds of things, like food, toys, books, cosmetics, electronics and pet identification tags."

"What's notable is the payment method, indicative of the shifting habits of the Chinese, from cash to digital," the expert observers reported. "Paying is seamless: machines only need to accommodate the two top mobile wallets, Alipay and WeChat Pay," according to a Digital Trends report (March 23, 2018).

"There is no need to carry cash: we just use our cellphones," said Larry Song, a sales manager at the Thintop Technology Co., a Shenzhen-based manufacturer of vending machines. "Because there is no dominant mobile payment system in the U.S., machines there still need to accommodate cash and credit cards. Ease of payment makes everything easy."

According to industry insiders, the unattended sales market in China has achieved only 10% market penetration, leaving 90% of the sector's potential untapped. This means there's ample opportunity for smart vending machines to make a significant impact.

Experts predict that a period of explosive growth in China's vending industry is just around the corner. In the next few years, 50,000 to 100,000 vending machines will be added annually to the Chinese market and the total number of machines deployed in the country will soon reach tens of millions according to the latest statistics from iResearch (January 22, 2018). "You don't need to be a market analyst to appreciate that the outlook for the vending industry in China is exceptionally exciting," the China VMF planners emphasized." All things considered, the self-service vending industry is currently an expanding and profitable market whose primary goal is to investigate how to use existing technology to improve and develop the sector and to discover more profitable product offers."

This should pinpoint the upcoming vending and self-service facilities show as a versatile resource for companies seeking to participate in this emerging Chinese market, and for industry members simply interested in learning how it works.

The show is managed by Grandong Grandeur International Exhibition Group through the China VMF Committee. Information may be requested from the committee's Claire Yang, tel. +86 20-22074164, Fax +86 20-36657099, Mobile/What's app: +86 13419643925, or by emailing her at ChinaVMF_Claire@163.com or evech1@yeah.net.