AVT Allows Consumers to Experience Gourmet Coffee at a Fraction of the Cost through Innovative Micro Stores
CORONA, Calif., Aug. 5, 2013 /PRNewswire/ -- AVT, Inc. (AVTC.PK) (OTC Markets: AVTC) (www.autoretail.com), a technology leader in developing automated retailing systems, customized kiosks and micro-stores, sees tremendous growth potential in the rapidly expanding automated gourmet coffee market.
Industry leaders like AVT, Coinstar (now Outerwall) and Starbucks have entered the market and are commanding the lion's share of this new niche.
Outerwall estimates the annual market for automated coffee at about $800 million, said David Veenstra, Coinstar (Outerwall's) senior vice president for strategy and new ventures, in an article published on Bloomberg News.
T. Rowe Price analysts state that the automated coffee market is red-hot. "Coffee is a particularly dynamic segment at the moment," the report states. "It's really been driven by innovation, and the key driver of that is what's gone on in the out-of-home market."
Mintel - a leading data and intelligence trend-tracker, which named automated self-service as one of the biggest areas of opportunity and growth potential. "Moving forward, automation is going to be about cutting to the chase, skipping past laborious processes, to get us to the experience or the product more quickly," said Richard Cope, director of insight and trends at Mintel.
Outerwall (Coinstar) executive, J. Scott di Valerio put it another way: "People want to get what they want, when they want it. And automated retail provides that."
According to Roast Magazine, which covers the coffee industry, 63% of American workers have 2 or more cups of coffee per day. Furthermore, 83% percent of American adults had at least one coffee or espresso drink within the past year, up five percent from last year, according to the 2013 National Coffee Drinking Trends recently released by the National Coffee Association.
"Clearly, this market is huge," said Shannon Illingworth, Chairman and Founder of AVT, Inc. "We are properly positioned in the right market at the right time to recognize significant growth, and we also have the best product line in the industry," he added.
AVT, which develops, manufactures and distributes the Marley Coffee Automated Stores, recently announced a deal with Neebo Inc., owner of Nebraska Book Company Inc. , to provide Marley Coffee Automated Stores at college campus bookstores throughout the nation.
Digital Signage Connection, in an article titled Gourmet Coffee Propels Automated Retailing Kiosk Growth, states that Neebo owns one of the largest collections of college bookstores in the country, with more than 200 locations, including many of the biggest and best-known schools in the world. "In one way or another, Neebo touches approximately 80 percent of the 15 million students attending institutions of higher education in the United States."
According to Joe Menichiello, vice president of sales and marketing for Marley Coffee Stores , the Neebo deal is significant for a number of reasons: "The fastest growing segment of coffee drinkers are between the ages of 18 and 24, so having Marley Coffee Stores in college campuses provides a superb opportunity for AVT and our partners," he said. "Additionally, Marley is an iconic brand -- especially among the college age demographic, so we are very optimistic about the revenue potential from these placements."
An article in The Atlantic summed up the coffee market by reporting that it could soon be bigger than the entire soda market. "Soda is in a free fall, with domestic revenue down 40%. Coffee culture is ascendant, up 50% in ten years," the article stated. If the trend continues, "the United States could easily spend more on coffee than soda," the report concluded.
For more information on AVT, visit the website at: www.autoretail.com, or call (877) 424-3663.
For more information on Marley Coffee Automated Stores, visit: www.marleycoffeestores.com
To read the T. Rowe Price report, visit: http://individual.troweprice.com/public/Retail/Planning-&-Research/Connections/Coffee/How-Coffee-Is-Driving-Economic-Growth
To read the Digital Signage Connection Article, visit: http://www.digitalsignageconnection.com/gourmet-coffee-propels-automated-retailing-kiosk-growth-413
To read the Roast Magazine article, visit: http://dailycoffeenews.com/2013/03/22/u-s-coffee-consumption-trends-in-bold-neon/
To read the article in The Atlantic, visit: http://www.theatlantic.com/business/archive/2013/01/graph-how-coffee-drank-sodas-milkshake/267318/
About AVT, Inc:
AVT is a leading developer of customized automated retailing systems, Micro-Stores, and self-service solutions. Divisions include design, manufacturing, software engineering, leasing, media, and technology licensing. AVT is able to work with any size company to design a custom automated retailing solution that drives traffic, increases sales, improves security, and lowers overhead. AVT is uniquely qualified to take projects from concept to completion with speed, economy and ingenuity. For more information, visit: www.Autoretail.com
AVT's stock is traded through the OTC Markets, Ticker Symbol: AVTC
SOURCE AVT, Inc.