Growing Consumer Trends towards Cashless Vending Machines - More Revenue, Greater Convenience & Improved Customer Satisfaction
Survey Results Clearly Indicate Large Market Opportunity for Cashless Vending MALVERN, PA, January 12, 2005 - A USA Technologies' (OTC Bulletin Board: USTT) survey of vending consumer purchasing habits in 2004 has confirmed that U.S. consumers purchase more or higher priced items from vending machines when they can use credit or debit cards to make payment.
An analysis of more than one million purchases made at vending machines equipped with USA Technologies' e-Port� shows the average purchase was $1.87 when a credit or debit card was used, compared with $1.06 for a cash purchase at the same machine.
On 450,000 occasions, consumers preferred to use their credit and debit cards when making purchases from vending machines, and they made many more multi-purchases for example, buying an average 1.75 20 oz beverages with every swipe of their card.
"This was the most comprehensive analysis we have conducted in the market, and the facts are clear - consumers want to be able to use their credit or debit cards when purchasing from vending machines," said Jim Turner, Vice President, Intelligent Vending, USA Technologies. "There were nearly half a million occasions when credit and debit cards were the preferred method of payment, representing almost one-third of all purchases made at the machines," he said.
USA Technologies reported that the surveys surprised many of the biggest operators, bottlers and brand names from coast to coast in the vending industry.
Vending machines are all going this way. Big upside potential for this company that has cornered this market. IMHO
I was in La , Cal on a conference for two days and your so right. I wanted a coke so bad I paid $2.50 for a coke at the vending machine at the hotel ( Big Money). I was with 500 SBC managers and we used that machine all night for two days. BIG Revenue !!
I think my yearly team award will buy coke stock ,even in our work location in San Diego our building with 10,000 employee's . Yes there is a coke machine that is used 24 hours. They can't keep it stocked enough. We need more machines . I will make a call for more . NOW THAT I WILL STOCK> =)