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Revenue in American Vending industry Projected to Rise and Hit $7.7 billion in 2019
CORONA, Calif., Aug. 11, 2014 /PRNewswire/ -- AVT, Inc. (OTC Markets: AVTC) (www.autoretail.com), a leader in automated retailing systems, commented today on the news that the vending industry is expected to reach record revenues according to a new IBIS World report.
As reported in the Los Angeles Tribune, a new wave of "Automated Retailing" systems are changing the way shoppers get products of all kinds. From a $500 package of fine caviar to freshly squeezed juice, these new systems are engaging, entertaining, and cost-effective.
"There is a lot of innovation happening in vending machines," said Omar Khedr, industry research analyst at IBISWorld. The American vending machine industry is projected to rise and hit $7.7 billion in 2019, according to the report.
One such innovator, Denis Koci spent five years developing the idea for the Burritobox, which offers hot burritos on demand. His Los Angeles company, the Box Brands, rolled out six machines made by AVT this year in the Southland and in August will start franchising nationally, Koci told the Tribune.
Selling fresh, gourmet cupcakes in vending machines is also now one of the hottest niches in the industry. The popular "Cupcake ATM" is going in 16 bakeries across the country, the article stated. Other systems, such as the AVT-built Fresh Squeezed Juice Bar have also gained international acclaim.
"We believe that technological innovation is driving the growth of this industry," said James Winsor, CEO of AVT, Inc. "Customers want more choices and convenience. Our new systems that feature touch-screen interactivity, audio and video feeds, online connectivity, and cashless payment systems are selling more products to more people than ever before," he added. "Now, having a vending or 'Automated Retailing Station' in what was previously unused space, drives profits, increases brand awareness, and builds a new customer base for businesses and retailers."
AVT, a public company (ticker: AVTC), with a 15-year track record of success and innovation, was named one of the fastest growing companies in America by International Times News. AVT provides custom solutions to companies seeking an automated platform to increase sales, expand distribution, control lift, lower overhead, and enhance brand awareness.
For more information on AVT, call (877) 424-3663, or visit: www.autoretail.com.
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SOURCE AVT, Inc.
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