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Changing lifestyles, rising consumerism driving vending machine market in India, finds Netscribes
Netscribes Inc, launches report ‘Vending Machine Market in India 2012’ as a part of Netscribes’ Manufacturing Industry report series
The vending machine market in India is still at a nascent stage and is expected to witness dynamic growth in the near future. The market has been boosted by the increasing consumerism coupled with changing lifestyle, according to the report.
The introduction to ‘Vending Machine Market in India 2012’ provides a basic brief of the vending machines and their operational model. Vending machines follow a simple mechanism including product selection, payment modes, article dispensing and vending feedback. The section is followed by the market overview section which begins with an insight into the overall vending machine market in India, along with growth in annual installations of vending machines across major segments and the potential market for vending machines. Only a small fraction of the potential vending machine market in India has been tapped, indicating a huge scope for growth, according to the report from Netscribes Inc.
The report also provides a detailed analysis of the export-import scenario of vending machines under specific HS code in terms of value and volume. It provides country-wise export-import data along with share of export-import across various vending products for the year 2011-12.
The factors driving the growth of vending machine market in India have also been highlighted in detail in the report. Increasing consumerism coupled with growing organized retail stimulates the demand for more vending machines across the country. It also states that India is one of the most lucrative consumer markets in the world with about one sixth of the global population. The FMCG sector has been identified as one the major factors influencing the growth of the vending machine market. Growing urbanization and corporate culture provides opportunity for vending machine installations. Improved technology and new applications has facilitated the market to grow further. Changing needs and preferences arising from a modified lifestyle enables the players to increase their domestic customer base.
The challenges faced by the existing players in the vending machine market has also been highlighted in the report by Netscribes Inc. shortage of cheap labour, poor payment mechanisms and consumer perception towards using vending machines are the biggest challenges that the sector faces and the report takes a closer look at these issues.
The competition section begins with the Porter’s Five Forces Analysis, illustrating the competitive rivalry, bargaining power of suppliers and buyers and threat of new entrants and substitutes. It outlays the competitive landscape of the vending machine market in India briefing about the domestic players existing in the market. The report also features brief profiles of major domestic players in the market and a snapshot of their corporation, financial performance along with the key financial ratios, business highlights and their product portfolio providing an insight into the existing competitive scenario.
The report concludes with a section on strategic recommendations which comprises an analysis of the growth strategies of the vending machine market in India.
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