Each year, we’re excited to reveal the results of our State of the Industry report on vending and micro markets. It’s encouraging to see the industry’s steady growth over the years, and we’re able to identify key trends by comparing survey results to empirical data from operators. You’ll be thrilled to know that our 2019 total industry revenue climbed nearly 3% to $24.2 billion!
We’re appreciative of the many readers who took the time to complete this survey — we’re happy to report that we had the highest response rate in four years — as it provides thorough information about operators’ growth, revenue, location types and the ever-changing product mix. We hope you find this information as valuable as we do.
Reading the results may feel bittersweet, as it is an analysis of data captured from 2019, just before the coronavirus pandemic hit the country. It’s difficult to celebrate another record-breaking year when so many operators have suffered revenue loss due to the COVID-19 crisis. If there’s one thing I’ve learned from candid conversations with you and your colleagues over the past year, however, it’s that operators are strong and resilient.
You’ve weathered economic downturns and natural disasters. You’ve integrated technology to streamline your business and fight off competitors. You came into this crisis stronger than ever, and — while there are still many unknowns around what the recovery process will look like —you will rebuild. You will stay strong.
The industry will likely look different as time goes on, and we’re already seeing evidence of operators diversifying their product and service offerings. We’ll be here to support you every step of the way, by sharing insight and advice from your colleagues and industry leaders, and by listening to your concerns. Have something you’d like us to address? Email us at [email protected].