Today, new management tools like handhelds and Plano grams are providing Planet Antares vending operators, among other operators, the means to monitor product turns with minimal extra labor. As a result, they are evaluating the pricing strategies for their vending machines and products.
Since a long time, Planet Antares vending operators have felt that they are not being able to raise prices to the same level as other retail channels. Generally, the vending prices are determined by competition and by consumer contracts. These are usually not dependent on customer needs.
Most Planet Antares vending operators agree with the fact that sales and revenue can be enhanced through a more scientific pricing strategy. However, historic evidence shows that few operators have possessed the resources to track results in a manner that would provide them the essential information required to do this.
Recently, an academic theory was formulated and argued that by discounting secondary products, vending operators can improve customer choices and therefore, enhance customer satisfaction.
Still, it is not necessary to pass on savings to the customer so that you can keep the pricing simple and increase your Planet Antares vending business bottom line. The price of certain items can be lowered and still a gross margin comparable to that of branded items can be generated.
Make sure that your Planet Antares vending machines have the power to draw and retain customer attention. If you have snack items priced at 25 cents, you will find customers stocking up on these items at the end of the day and taking them home.
In the vending industry, the ‘take-out’ customer is virtually unheard of. This is a huge opportunity for growth of vending operators. If Planet Antares vending operators support secondary suppliers, they would cut down their dependence on the big manufacturers.
You can experiment with value pricing in the current economic slowdown. The reasons for this include:
- Greater price consciousness among customers and more attention to special offers
- Reduction in location sales due to downsizing, making it the ideal time to buy less from established suppliers.
One of the most debated topics related to vending is that of health and nutrition. As a Planet Antares vending operator, you can read about it every day, mostly in relation to schools and college campuses.
Trade organizations are spending huge sums of money to make the media and government institutions realize their role in public health and fitness. On the other hand, they are trying to create awareness that the vending industry didn’t create the obesity crisis and are in fact, part of the solution.
Planet Antares vending operators support these efforts, which they view as a price they must pay for being in a business that is involved with the public health. Their aim is to play a role in the well-being of the general public and lessen any negative impact on their health.
The fact remains that obesity and nutrition have very little to do with daily business reality for the average operator. Generally, they will be happy to offer products that have high quality and nutritional value if these are desired by the customers.
In the private sector, employee wellness is emerging as a visible movement towards greater efficiency and healthy work force. Employers have been forced by medical costs to consider multi-faceted wellness programs to ensure healthier employees and lower health insurance premiums.
However, you cannot expect the media to leave the obesity issue for some time to come because it is a universal problem that has an impact on all sections of society. We all know that many times, issues in the public spotlight tend to become larger than life, media attention feeds itself until the public loses interest in the issue.
Most of the Planet Antares vending operators have been satisfied to let their national trade association carry the weight of the health issue burden. Still, a lot of them are learning that the issue has a direct affect on their vending business as well.
Last year, Planet Antares Inc launched a campaign to provide tools that help operators to address the media at the local level and enable them to participate in legislative initiatives at both the local and state levels. Another tool is the group support from dieticians who are ready to help Planet Antares vending operators work with legislators and other public officials on the behalf of the industry.
