Food vending machines are becoming increasingly expensive.
According to a recent survey conducted by the consulting firm IHS Markit, the cost of vending machines has increased from Rs 5,800 in 2015 to Rs 15,200 in 2018.
The price of the new machines varies widely.
The machines cost between Rs 10,000 and Rs 15.5 lakh.
IHS says a new vending machine can be installed in less than five days.
“It’s like a mini-market, with the biggest selection of products.
But it costs a lot more than other food and beverage outlets,” says A.R. Ramachandran, vice-president of the retail research firm.
A vending machine costs around Rs 1,200 to Rs 2,000, depending on the size, and can be easily installed in just three days.
For smaller shops, a vending machine could cost Rs 1 lakh.
In India, most of the vending machines have an integrated checkout system.
Ramachandraman says the biggest difference is in the size of the shelves.
“A typical vending machine in the country is around 40 x 30 x 15 centimetres.
In some countries, it’s closer to 50 centimetre,” he says.
“The smaller the shelves, the bigger the profit margins.
In other countries, the margins are much smaller.”
IHS has estimated that India’s average retail price of a vending basket is around Rs 5 lakh.
Ramanchandramans company has been researching the issue and says a number of vending machine manufacturers are working on improved systems.
In 2018, a major food company, Cargill, launched a vending machines for Rs 3,000.
However, it is not all good news.
One of the major problems in vending machines is that they don’t work with all the food products in a basket.
This makes it difficult for consumers to track what’s in their basket.
Cargill says it is currently working on a new system for its food vending.
This is not the only problem with vending machines.
According to a report by research firm Mintel, the market share of vending and food companies is declining in India.
The number of companies in the industry is falling from around 3,500 in 2018 to 1,500 now.
Mintel has said that this is due to two factors: the need for cheaper labour and the need to offer products to a much broader audience.
Its report has also warned that vending machines need to be made available to the consumer.