As many other retailing channels are replacing the traditional vending channel, its sales are continuously decreasing. Since coffee and some beverages are the most commonly sold items in traditional vending, the rapid increase in convenience stores and coffee specialists in terms of number of outlets in South Korea has given consumers alternatives, and offer more products compared to vending.
New types of vending with advanced technology are becoming the next stage of stores due to the minimum wage increase in South Korea. Starting from convenience stores that have limited products compared to other retailers, many retailing companies are trying to develop vending to reduce wage costs and enhance consumer experience.
Lotte Chilsung Beverage continues to lead the channel whilst the sales value is decreasing due to low popularity. The player has expanded its business into packaged food such as snacks, gums, sweets and chocolate, which it manufactures itself.
Whilst vending is transforming into various types, more products will be expected to be sold. Amore Pacific has opened six vending machines where consumers can buy Innisfree items, and the beauty specialist retailer Chicor (Shinsegae Group) has launched 11 vending machines to target consumers that do not want to contact any staff during the purchasing process.
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This industry report originates from Passport, our Retailing market research database.