Internet of things (IoT) compatible and digitally connected vending machines and smart stores in the food and drink (F&B) are next-generation retail distributors who will accelerate the growth of the industry, industry experts said Thursday. Speaking at a webinar on ‘smart retail’, they also noted that consumer behavior is changing in the restaurant and restaurant industry and that smart retail is supported. by data information will be the future.
ITC COO Foods – Chocolate, Coffee, Confectionery and New Category Development – Anuj Rustagi, said smart retailing, backed by data tools, will drive industry growth.
Automated retail machines such as vending machines will use the power of data and serve consumers as they require, he noted.
Deloitte India partner Rajat Wahi said many innovations are happening on this front to provide hot meals in places like offices and train stations.
Marico Executive Vice President – Supply Chain Nitin Kathuria said the vending machine has now become a different channel for the company and has also personalized its products for it.
Daalchini Technologies, which offers automated kiosks, mobile retail stores and smart vending machines, also released an internal brand survey during the roundtable.
According to the report, 75 percent of D2C (direct to consumer) brands believe that smart retail enables them to acquire new customers with a low investment compared to modern point of sale (65 percent), general commerce (52 percent) and distribution aggregators (42 percent).
“95% of D2C brands anticipate future revenue growth through smart retail amid the pandemic as it provides safe and contactless home-cooked meals / snacks through its phy-gital technology.
“In addition, they expect better revenue growth in the near future due to higher margins and profits by cutting out the middleman,” he said.
In addition, 75% of D2C brands used the customer information available through the Daalchini app and partner interface, which highlights the importance of smart vending machines in terms of consumer information. -he adds.