Two things will be clear to you after listening to this podcast. Operators are excited about smart market technology and there is no end to the creative solutions/equipment being offered by smart market developers.

In this episode of Automatic Merchandiser’s Vending & OCS Nation, the podcast for the convenience services industry, host Bob Tullio takes an even deeper dive into the world of smart markets. In part one of this episode, released on September 24th, he talked to Ryan McWhirter of 365 Retail Markets, Elyssa Steiner from Cantaloupe and Yang Yu from Micromart.

In “Smart Markets Part II - Choosing a smart market is a multiple-choice question for operators,” Tullio talks to more smart market developers, creative minds who are driving the smart market movement. Mike Delazzer, founder of Redbox is now with Instant Retail Systems, Detlev Goedbloed of Structural Concepts, Fred Kahn from Kooick and Guy Moshe from Shekel, all share their product features and their vision for the future of smart markets.

Mike Jamison from New Age Vending and Jon Corto from Buffalo Strive give their take on the value of smart markets. Also mentioned in this podcast, Due North and AVS, two companies who play an important role for smart market developers.

From day one, theft has been a concern for micro market operators. Watching hours of video or taking a time consuming and perfectly executed market inventory are two ways to establish whether theft is occurring, but then what? Proving your case to the client and gaining their support is the difficult next step.

In this episode of Automatic Merchandiser’s Vending & OCS Nation podcast, host Bob Tullio talks to three companies who use advanced technology, including AI, to identify theft as it happens and make it easier for operators to have that difficult conversation about product theft with their customer. The goal is better communication, cooperation, deterrence and in some cases, compensation.

According to the 2023 Automatic Merchandiser State of the Industry Report, there are over 42,000 active micro markets being operated in the US. Since the very first micro market was placed over a decade ago, product theft, aka “shrink” has been an active topic of conversation and an ongoing challenge for just about every operator.

In that same study, operators were asked to identify their average level of micro market theft. While 3% optimistically said they were at a 0% shrink, the vast majority fell into the 3% to 7% range.

One might conclude from the report that the shrink situation isn’t that bad and generally speaking, operators have it under control. Those three companies that are using advanced technology to monitor security and catch thieves in micro markets would beg to differ. Panoptyc, ProWatch Solutions and Theft Detective have all experienced different journeys on their way to catching a thief. Today, they can offer hard evidence that theft is an inherent issue in micro markets and unless strong deterrents are in place, along with effective communication – shrink happens in a big way.

While this podcast takes a deeper dive into the issue of micro market theft and efforts to deter it, many of the interviews were also conducted for the Automatic Merchandiser article that Tullio wrote for the magazine’s upcoming November, “Protecting your investment - A technology driven approach to mitigating micro market theft.”

From all indications, smart markets are a game changer. Driven by AI, featuring the security benefits of vending and the product merchandising power of a micro market, it is no wonder that smart markets are emerging as the next big thing.

In the first part of a two-part episode of Automatic Merchandiser’s Vending & OCS Nation podcast, Tullio takes a deeper dive. He speaks with many of the entrants into the smart market space, big and small. Each is beginning to find their niche in what is almost certain to become a massive opportunity for everyone involved.

You can't tell the players without a scorecard. This podcast is your scorecard for the micro market game.

Part one features Evan Jarecki from Gimme, Ryan McWhirter of 365 Retail Markets, Elyssa Steiner of Cantaloupe, Yang Yu of Micromart, and Arthur Siller from Evergreen Refreshments.

Part two of this podcast on smart markets will be available on Tuesday, October 15. Part two will include interviews with other smart market providers, including Mike DeLazzer, founder of Redbox, now with Instant Retail Systems, Detlev Goedbloed of Structural Concepts, Fred Kahn at Kooick, Guy Moshe at Shekel and more.

Editor's Note: Many of the interviews in this podcast (which offers a timely post-season baseball theme) were conducted by host Bob Tullio for an article that appeared in Automatic Merchandiser Magazine’s August edition.