Tao Bin eyes Asean market in longer term

For more than two decades, Thais have purchased beverages from vending machines. Smart devices allow these machines to attract new customers because of their product variety, ranging from face masks to lingerie and condoms.

Vendingmachines became more popular when Watanya Amatanon, chief product officer at Forth Vending Co, the marketer of Tao Bin machines and an affiliate of Forth Smart Service Plc, the country’s largest top-up machine provider under the Boonterm brand, introduced smart beverage vending machines in 2021.

These machines offer customers quality Americano coffees at affordable prices, she said. “We spent two years developing these smart vending machines before the market launch,” said Ms Watanya. “There are more than 7,000 mechanical pieces inside our vending machines and up to 30 registered patents.”

The Tao Bin machine, which is one square metre in size and equipped with cuttingedge technology, can offer up to 170 beverincluding ages, hot and iced coffee, hot and iced milk, fruit drinks, sodas, protein shakes and smoothies.

Developed and operated by Forth VendBin ing, Tao is set to revolutionise the vending machine business in Thailand by offering noodles, a simple meal that is a part of the daily diet regularly found in shopstreet houses, and retail stores, around the clock, within the next couple of years. “We are working on developing our technology to offer noodles through vending machines, which is a never-before-seen offering. We’ve focused on noodles because noodles are a simple meal in daily life,” she said.

“We are not 100% certain whether we’re going to succeed, but we’re putting all efforts to make this happen in the next two to three years to make this offering viable through smart vending machines that customers have never seen before. We want to increase customer experience and satisfaction as much as possible.”

As of December last year, there were 4,600 Tao Bin vending machines at various locations, including hospitals, office buildings, BTS stations and in front of leading shopping malls. Of the total, 60% were in upcountry areas and the remainder in Bangkok.

The company aims to have between 8,000 and 10,000 machines in operation by the end of this year.

“Although there are many vending machines already available in Thailand, we believe that the smart vending machine market is still largely untapped. We foresee continuous business because we provide customers with more convenience, good taste and affordable prices,” said Ms Watanya.

The company is also committed to expanding Tao Bin machines beyond Thailand, with a particular focus on the Asean market this year, starting with Malaysia and Singapore, Ms Watanya said.

Forth Vending is preparing to sign an agreement with potential partners in Malaysia to expand its business overseas.

The expansion plan to Malaysia will be formed under a joint venture in which the company will not be a major stakeholder.

In Malaysia, the Tao Bin vending machines will initially provide 50 items to customers. Products to be made available will be similar to those offered in Thailand, with local items to be added in the future.

The company will also incorporate local products for each country they expand into.

“In the longer term, we aim for Tao Bin to become an Asean brand within the next two years,” said Ms Watanya.

{We are wo to offer noodles through vending machines, which is a never-before-seen offering. WATANYA AMATANON CHIEF PRODUCT OFFICER OF FORTH VENDING CO