A Thousand To One
Vending machines have been making money one dollar at a time for decades. Now, imagine a $1,000 model.
In my latest book, I write about the application of variable
pricing to vending machines. Coca-Cola had been experimenting with
adjusting their prices based on variables such as the weather. When
it's hot outside, the machines could automatically raise the
price. Or, if there too many root beers left in the machine and
it's still five days until the machine will be restocked, the
machine could lower the price of root beer. The smart vending
machine is clearly on its way. And it ushers in a new era.
One day, in a Wal-Mart parking lot, I saw a vending machine for
bait. Ten dollars got you a container of dirt and earthworms...and
it hit me! I was so used to thinking of vending machines as tools
for low-cost items; why not make the $1,000 vending machine? And
before we get to a cool thousand dollars, why not the $20, $50,
$100 or even $500 vending machines? The $20 to $100 range has so
many possibilities. Books, CDs and DVDs could easily be vendible,
at least for a revolving list of the bestsellers.
But let's take our thinking to the next level. How would we
make a $1,000 vend attractive to consumers?
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Let your own imagination go to the land of possible high-ticket
vending items. While you're there, try this one on for size:
For the first time in history, our possessions can become artifacts
while we're still alive. I wish I had my old Rin-Tin-Tin lunch
box back-it's worth $4,000! Why not take our artifacts and sell
them in vending machines? Baseball cards, Star Wars toys,
hard-to-find Pez dispensers-you name it-are all viable as vended
items. Look at your old tools in a new light and see just how
innovative you can be.
Watts Wacker-lecturer, bestselling author, political
commentator, social critic and CEO of FirstMatter-is one of the
world's most respected futurists.