After a steady, five-year decline, the Canadian vending industry is expected to spend the next half-decade bouncing back. A report published by the GlobeAdvisor.com predicts an annual revenue growth of nearly 2 percent through 2018, with the industry enjoying options that go far beyond the standard soda and snacks found in traditional vending machines. That makes Canada a prime location for investing in the business, especially for those with an eye for innovation and industry trends.
The 1.9 annual revenue growth expected through 2018 will easily offset the annual 1.5 percent decline the industry saw from 2008 to 2013. Additional figures from market researcher IBIS World have the Canadian vending industry slated to bring in an estimated annual $715.8 million by 2018.
The growth will be fueled by vending machines that match consumer trends as well as their expectations. And people expect a lot from the modern vending machine. Consumers today are looking for vending to have a greater variety of choice said Mike Masse, president of food services at Compass Group Canada.
Additional trends the industry can embrace include healthier product choices and a variety of ways to pay. A number of Canadian machines already in operation not only offer healthier products, but they also display nutritional information and take payments via credit cards or cell phones.
With the Canadian vending industry poised to explode, keen investors can reap the benefits. The keenest will opt for machines that offer a variety of healthy product options along with a variety of payment methods. A number of vending machines on the market can provide those options, and more, with features that include refrigerated and frozen sections in a single machine, vast product capacities and high-end technology to meet the demands of the modern consumer.
For more information on purchasing a vending machine or becoming a Canadian vending machine distributor, visit our website http://www.uselectit.com/ or give us a call at 1-800-247-8709.