Everything You Need to Know About Micro Markets

Vending machines are great, but they can’t provide fresh, healthy options the way micro markets can. When you’re looking for a way to provide affordable and convenient whole foods, rather than drinks and non-perishable snacks, micro markets offer plenty of great opportunities.

Here’s what you need to know about micro markets.

What are micro markets, and how do they work?

Micro markets are unattended food and beverage retail markets. They offer cashless checkout systems, and generally operate on the honor system. Customers choose what they want from a variety of fresh foods, snacks, beverages and other items, then they take them to the checkout system to complete the transaction.

Since they’re on the honor system, they’re generally in closed environments like hotels, offices and housing complexes. They might be advertised as 24/7 convenience stores or food markets.

Practically speaking, micro market stock needs to be updated on a daily basis. They’re somewhat more high maintenance than vending machines, but they appeal to a broader variety of clientele.

Benefits of micro markets

There are many unique benefits and opportunities when you own and operate a micro market, including:

  • Cater to health-conscious customers: Most vending machines have an assortment of sodas, energy drinks and junk food—high-calorie foods and drinks meant to give a quick energy burst. That turns off customers who are on a diet or simply want to eat healthier, whole foods for sustained energy. Micro markets appeal to a much wider variety of clientele, ensuring you attract more customers.
  • Encourage more purchases with cashless checkout: Hardly anyone carries cash anymore, which is why so many vending machines have added electronic payment options. Micro markets encourage people to buy more items by allowing cashless checkout. It’s easy and convenient, and isn’t limited by how many crumpled dollar bills may be in your pocket.
  • 24/7 food and other important items: The convenience of micro markets is their biggest appeal. Whether they’re grabbing a quick meal from your hotel’s micro market after a long day, or they need to head downstairs to grab emergency hygiene items in the middle of the night, your customers won’t have to go far to get what they need.
  • Major growth multipliers: Traditional vending machines make a little over 1 percent in profits. Micro markets rake in 17 percent profits on average—a major difference!
  • Offer customer loyalty programs: With micro markets, it’s possible to employ customer loyalty programs at checkout. Not only does this encourage future spending, but it makes your customers feel like they’re getting a better deal.
  • Perfect during pandemics and other health crises: COVID-19 is probably not the only public health crisis we’ll experience in our lifetimes. Micro markets allow people to safely shop for what they need, while limiting human contact.

If you’re interested in learning about micro market opportunities in your area, the team at ABC Vending Co. is happy to help. Reach out to us today to learn more about how you can get started hosting your own micro market.

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