The self-service retail industry saw big changes in 2024. More people chose to pay without cash, spent more per purchase, and used tap-to-pay more than ever. These shifts have created exciting new opportunities for business owners. Let’s look at the biggest trends from 2024 and what they mean for 2025.
Key Trends from 2024
Cashless Payments Took Over
People Spent More on Smarter Shopping
- The average micro market transaction was $2.67, which is 27% more than vending machines. This shows that customers are willing to pay more for convenient, higher-quality items.
- The average Smart Store purchase was $4.25, thanks to new technology like weighted shelves and cameras that improve shopping and reduce theft — which means operators can sell high-margin items nearly anywhere.
Tap-to-Pay Became the Favorite
- More people used tap-to-pay with cards or mobile wallets in 2024. In fact, 77% of all cashless sales were contactless, up from 65.5% in 2023. This method really started gaining steam during the pandemic, as it’s entirely contactless and not susceptible to card skimmers — so it’s more secure.
What This Means for Business Owners
More Security, More Sales
Cashless and tap-to-pay methods not only make transactions safer but also lead to higher spending. For example, spending in Smart Stores was 101% higher than in vending machines.
Consumers Are Still Spending
Even with rising costs, people are still willing to treat themselves. In 2024, food & beverage vending sales exceeded $3.5 billion. Through 2024, the Consumer Price Index rose 2.9%, while inflation dipped compared to 2023.
Vending sales have risen steadily year-over-year — even though the prices of consumer goods keeps rising. But the convenience offered by vending machines, micro markets, and Smart Stores, especially with cashless options, outweighs price increases.
What’s Coming in 2025
New Locations, New Customers
Business owners should explore setting up in places like apartment buildings and gyms. Micro markets saw a 28% increase in locations and a 27% rise in sales, showing strong growth potential.
Smarter Stores with Better Tech
Technology like weighted shelves and cameras will help businesses prevent theft and improve shopping experiences. This makes Smart Stores a great option for various locations and a way to increase revenue.
Final Thoughts
Operators have a chance to grow by embracing smarter stores and expanding to new locations. Technology will help improve security, increase sales, and make shopping easier for customers.
Want to stay ahead? Download the full 2025 Micropayment Trends Report for more insights!
Fast Facts
- Cashless Vending: In 2024, 71% of vending machine sales were cashless, with an average spend of $2.24, up 17% from 2023.
- Higher Micro Market Sales: Micro markets have an average transaction value that is 27% higher than vending machines.
- Boosted Revenue: The integration of advanced technologies supports the sale of high-margin items, boosting overall revenue.
Modernizing business operations helps solve high costs and labor shortages. It involves using technology to improve customer and employee experiences, being flexible, and engaging employees in technological changes for successful transformation.
Vending businesses should accept cashless payments because it’s more convenient for customers, increases spending, reduces vandalism, offers better security, and provides real-time sales data. This helps businesses grow by making it easier for customers to buy and track sales.
Smart Stores can transform your vending business by offering more products and a smooth customer experience. Discover how these advanced machines can boost your sales and expand your business into new locations.