Vending machine prices are on a steady rise on campus and in vending machines nationwide.
The New York Times reports that high temperatures increase prices because vending machines will need thermometers with higher capacities to meet consumers’ needs.
Consumers’ problems with price increases occur when they are unsure whether the increase is necessary or the company is charging more for their own benefit.
Student Nick Wort from Indiana University South Bend (IUSB) recently published an article where he explains how and why their vending machine prices have increased.
Wort interviewed the director of dining services on the IUSB campus, who explains that the increase was inevitable because the price of the product increased and he just had to work with the changes.
On our campus, dining services has no control over the campus vending machines that are privately contracted by an outside company.
There is no representative to speak on their behalf and explain why vending machine prices have gone up, whether it is for their own benefit or for an inevitable cause.
Missouri State University also seems to be experiencing the same issue, however, Missouri State students don’t feel that it is problem.
They say they would rather pay more and have a guarantee that they will have good products versus paying less for bad products.
This is assuming that the rate increase is due to better services for the consumer instead of more income for the producer.
Students are affected by the price increases because most have no choice but to buy from the vending machines.
Student Kassandra Klutts said, “I honestly don’t buy food or drinks here because it is too expensive. I’d rather bring my own food and drinks and save money.”
The New York Times also reports that although people are strongly opposed to the charges they continue to purchase the product at the same rate.
This means that the demand for the product remains consistent despite the increasing prices.
A report on Forbes Magazine explains that despite the price increases, the sale of products in the vending machines, specifically those of the Coca-Cola brand, have been on a steady rise every year.
Encyclopedia.com reports that about 10 years ago, vending machines were 14 percent of food service sales on college campuses.
That number has increased significantly since then.
Vending machine companies pay colleges and universities millions of dollars for permission to place vending machines all around campuses.
We can expect to see diversity with vending machines in the future, as some companies are looking to diversify the products their machines offer.
According to tiki-toki.com, vending machines have expanded to provide products aside from the original soda and candy.
They are now vending materials such as movies, coffee, and raw foods.
The technology in vending machines has also expanded in the form of being able to read credit and debit cards.
This is to accommodate people who do not carry cash.
Although these advancements do not confirm or deny the possibility of price increases, it is clear that we will be getting better service from these vendors.