June/July 2023 - 17

A
s the convenience services
industry continues to make a
comeback - with workers
returning to the office and a
boost in workplace refreshments -
vending and micro market sales also
climbed in 2022 with a 12% increase
over the previous year's revenue.
Sales in the unattended retail
channel totaled $21.7 billion in
2022, compared with $19.4 billion
in 2021, which was a year of rapid
recovery since 2020, the first
year of the COVID-19 pandemic
when vending and workplace
refreshments took its biggest hit
due to months-long lockdowns.
While the vending industry's
revenue was expected to return to
pre-pandemic levels, 2022 shows a
steady pace of recovery, representing
almost 89% of 2019's benchmark
revenue high of $22.2 billion, after
falling 45% in 2020.
For 2022, sales remained $2.5
billion below 2019's pre-COVID
mark. But vending and micro
market operators have found ways
to better adapt to the challenges of
rising inflation and supply chain
disruptions, as well as the trend of
hybrid work - a blended, postpandemic
model of in-office and
remote workers. Operators looked
for solutions and partnerships with
business owners with the goal of
attracting employees and giving
them reasons to want to come into
the office.
Pairing new ideas to meet
customer demands with continued
price increases offered some relief,
but operators still felt the impact of
labor shortages and lingering supply
chain problems in the vending and
micro market segment - continuing
to struggle to procure common
confections and beverage products
that were once abundant.
Images: wacomka/Shutterstock, Macrovector/Vector illustration design
studio/Shutterstock, Antonov Maxim/Shutterstock, Grand Reignhart/
Shutterstock
CHART 3A:
Machines by location
● Manufacturing
● Offices
● Retail sites
● Hotels/motels
● Elementary,
middle,
high schools
● Hospitals,
nursing homes
3.0%
3.0%
5.0%
6.0%
6.0%
2022
9.0%
37%
10.0%
20.5%
2020
42%
22%
21%
4%
26%
CHART 3C:
Micro markets by location
● Manufacturing
● Offices
● Retail sites
● Hotels/motels
2021
● Elementary,
middle,
high schools
● Hospitals,
nursing homes
2%
1%
7.5%
5.5%
3%
2022
11%
2022
8%
25%
72%
35%
24%
2%
70%
● Universities,
colleges
● Correctional
facilities
● Military bases
● Restaurants,
bars, clubs
26%
2021
70%
CHART 3D:
Number of micro market
locations served
● Increased
● Remained the same
● Decreased
4%
2022
76%
2%
23%
2021
72%
2.0%
60%
5%
35.5%
● Universities,
colleges
● Correctional
facilities
● Military bases
● Restaurants,
bars, clubs
2020
27%
CHART 3B:
Number of
locations served
● Increased
● Remained the same
● Decreased
13%
June/July 2023 * VendingMarketWatch.com 17

http://www.VendingMarketWatch.com

June/July 2023

Table of Contents for the Digital Edition of June/July 2023

Editor’s Note
Industry News
Industry experts weigh in on OCS equipment trends
State of the Industry Annual Report
The 2023 Most Influential Women in Convenience Services Awards
Unattended retail technology is pushing the industry forward
The art of optimization
Social Hubs
June/July 2023 - PCOV1
June/July 2023 - PCOV2
June/July 2023 - 1
June/July 2023 - 2
June/July 2023 - 3
June/July 2023 - 4
June/July 2023 - 5
June/July 2023 - Editor’s Note
June/July 2023 - 7
June/July 2023 - Industry News
June/July 2023 - 9
June/July 2023 - Industry experts weigh in on OCS equipment trends
June/July 2023 - 11
June/July 2023 - 12
June/July 2023 - 13
June/July 2023 - 14
June/July 2023 - 15
June/July 2023 - State of the Industry Annual Report
June/July 2023 - 17
June/July 2023 - 18
June/July 2023 - 19
June/July 2023 - 20
June/July 2023 - 21
June/July 2023 - 22
June/July 2023 - 23
June/July 2023 - The 2023 Most Influential Women in Convenience Services Awards
June/July 2023 - 25
June/July 2023 - 26
June/July 2023 - 27
June/July 2023 - 28
June/July 2023 - 29
June/July 2023 - 30
June/July 2023 - 31
June/July 2023 - 32
June/July 2023 - 33
June/July 2023 - Unattended retail technology is pushing the industry forward
June/July 2023 - 35
June/July 2023 - 36
June/July 2023 - 37
June/July 2023 - 38
June/July 2023 - 39
June/July 2023 - The art of optimization
June/July 2023 - 41
June/July 2023 - 42
June/July 2023 - 43
June/July 2023 - 44
June/July 2023 - 45
June/July 2023 - 46
June/July 2023 - 47
June/July 2023 - 48
June/July 2023 - 49
June/July 2023 - Social Hubs
June/July 2023 - 51
June/July 2023 - 52
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