Automated Retailing Industry Expected To Grow To More Than $1.1 Trillion In 2015
CORONA, Calif., Jan. 24, 2013 /PRNewswire/ -- AVT, Inc. (OTC Markets: AVTC) ( www.autoretail.com) completed a redesign of their manufacturing headquarters in anticipation of significant growth – a move that was validated by a recent article in Investor's Business Daily that stated the automated retailing industry will almost double within the next two years.
The self-service automated retail market in the U.S. "is expected to grow from $740 billion in 2010 to more than $1.1 trillion in 2015," the article stated, using projections compiled by the IHL Group.
"There are going to be two leaders in this new industry," according to Shannon Illingworth, Founder and Chairman of AVT, Inc. "We believe that it will be Coinstar and AVT, although the two companies are very different."
Coinstar, which is the parent company to Redbox, is planning on distributing coffee vending machines that feature Seattle's Best Coffee – a brand that was recently purchased by Starbucks and is considered a lesser quality, "working class" coffee. According to a recent article in Adweek, Seattle's Best faces challenges from low-price competitors McDonald's and Dunkin' Donuts.AVT is approaching the coffee market differently, and is opening upscale Marley Coffee micro-stores and self-service centers that feature a variety of premium gourmet blends. "The Marley brand is about quality, sustainability, ethical farming, and organic artisan roasts," Illingworth commented. "There are already plenty of places to get a quick cup of average coffee. We believe the market is ripe for a quality product, made available in convenient locations and at an affordable price." "Coinstar is a giant - like McDonalds or Walmart, and they will always be a strong force in the industry," Illingworth commented. "But we are quick, nimble and lean, and still have tremendous growth in front of us."
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