Business / Industries

Vending machine market set to boom in China

By Qiu Quanlin in Guangzhou ( Updated: 2015-12-03 17:54

China's vending industry will develop at a fast pace by integrating Internet solutions, according to industry insiders.

"China's vending machine market is still at an early stage of development, with great potential for growth in the near future," said Zhou Jianghua, vice chairman of Beijing Ubox Technology & Trade Co Ltd.

"The market will expand rapidly if the industry allows more Internet solutions to integrate into the vending service," he added.

In addition to traditional vending machines, Ubox, established in 2010, allows customers to shop online via a mobile app and collect purchases at a vending machine, according to Zhou.

The company currently has more than 30,000 machines across the country, said Zhou.

Ubox will join a number of domestic and overseas vending service providers and machine manufacturers to take part in an industrial expo, scheduled to open in Guangzhou, capital of Guangdong province, from March 9-11 next year.

China has more than 100,000 vending machines, with annual sales reaching more than 5 billion yuan, according to the Asia Vending Industrial Association.

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