What are the points to pay attention to in vending

by:Easy Touch     2020-09-01
Vending machines have a huge market share in the United States and Europe. (Europe and the United States have smaller market holdings than Japan.) In some countries, the sales of vending machines account for more than 60% of the national retail industry, and it is increasing at a rate of 10% every year.
Pay attention to the following issues when pricing vending machines.
1. Sales cannot always depend on low prices. Although the price is too low will get higher operating income, but it will lose a lot of profits, which is related to the survival of the enterprise. Therefore, it is necessary to balance the relationship between profit and price.
2. The average gross profit margin of the product should be guaranteed when pricing vending machines: although various products have different gross profit margins. However, companies need to find a balance between fast-turning products and slow-turning products. Pricing and maintaining an average gross profit margin will help companies control their profits.
3. Accurate cost calculation: Pricing requires full cost calculation, especially for industries with relatively meager net profit, and cost calculations need to be very accurate. Everything from purchase, transportation, currency damage, equipment depreciation, and even credit card fees, etc., should be fully accounted for, so that a reasonable price can be set and you will not lose profits unknowingly.
4. Unless it is necessary, do not easily fall into a price war. The true value of an enterprise lies in its profit and customer satisfaction with you. Good service experience and quality, you are enough, otherwise it will be thankless. 
Pricing is a complicated task for vending machine operating companies. Due to the large number of outlets and many factors involved, companies must conduct thorough research. It is neither a one-size-fits-all approach nor “on the line”. If pricing is done according to the situation and the conditions of each business outlet, it is believed that the company will make greater progress.
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