Automatic_Merchandiser_February-March_2021 - 5

EDITOR'S NOTE

Getting back to work
AT LONG LAST, COVID-19 VACCINES ARE BEING SHOT INTO

Nick Montano
Editor

nmontano
@vendingmarketwatch.com

...the convenience
services industry
could see
its greatest
expansion period
since the Second
World War.

arms in significant numbers and it's possible that by the end of May
there could be a dose available to every American adult who wants
one. " When " those vaccines make their way into enough arms - it's no
longer an " if " - most of the nation's businesses could be looking at an
agreeable summer followed by an almost normal fall.
While parts of the U.S. economy still remain tied up in the COVID19 knot, Wall Street and Washington see a likely and imminent
post-pandemic boom. From the start of the pandemic, academics and
businesspeople have always predicted that a period of economic growth
would follow, but now many expect a supersized recovery. Some say the
U.S. economy is poised to be stronger than ever over the next few years.
Last month the Federal Reserve Bank of Philadelphia assembled a
panel of 39 economic forecasters who predicted that real GDP would
grow at an annual rate of 3.2% in the first quarter of 2021. The economists agreed that the remaining quarters this year, and the following
two years, will see an even stronger rebound in output growth. On an
annual-average over annual-average basis, the forecasters expect real
GDP to grow 4.5% in 2021 and 3.7% in 2022.
The economic growth predictions are almost as high as actual
GDP growth during the post-World War II expansion period.
A former colleague often reminded me that anyone trying to
understand the modern vending and workplace refreshments industry
needs to place it into historical context. You'll be struck by the parallels
between extreme economic difficulties and considerable technological
developments, he emphasized.
In the second half of the 20th century, wars, conflicts and recessions were often followed by advances in vending. The emergence of
full-line vending to provide hot and cold beverages, food, snacks and
confections, among other products, to hungry factory workers was a
result of the industrial boom immediately following the Second World
War. Other economic factors led to the development and adoption of
glassfront merchandising, banknote validation, frozen food equipment,
cashless payments and telemetry, and vending management software,
as well as adjunct delivery models like coffee service.
This past year, public officials, reporters and commentators sometimes compared the pandemic to World War II, often juxtaposing the
two historical events to scale the virus's death toll. (Let's not forget each
death is unique, a devastating loss to a family, a community, a company.)
While it's easy to get mired in making comparisons, it stands to reason that convenience services could see their greatest expansion period
since The Big One. For micro market operators, who were the go-to
resource for food and beverage in essential workplaces, that expansion
is already underway.
So, it's time to get back to work-for me. This is my first issue as
Automatic Merchandiser's editor and I look forward to telling your stories.

Editorial
Advisory
Board
Joe Hessling
365 Retail
Markets

Josh
Rosenberg
NAMA Board
Chair

John Reilly
Avanti Markets

Anant Agrawal
Cantaloupe
Systems
USA Technologies

Elyssa Steiner
Cantaloupe
Systems
USA Technologies

Carl Moser
Canteen
Corporate

Chuck Reed
Crane Payment
Innovations (CPI)

Cory Hewett
Gimme
Michael Miller
Mondelēz
International

Paresh Patel
PayRange

Jeff Deitchler
Prairie Fire
Coffee

Jim Carbone
Tradecraft
(retired)

Sandy
Thornton
VendEdge

February/March 2021 * VendingMarketWatch.com

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Automatic_Merchandiser_February-March_2021

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