Retailing: Automatic Millionaires

Few U.S. businessmen have more ostensible cause for self-congratulation than the men who run the automatic vending industry. Though an infant among U.S. industries, vending has already spawned 30 millionaires, many of them in the past two years. Total industry sales, which amounted to only $1.1 billion a decade ago, are expected to run $2.8 billion this year, will probably reach $4 billion by 1965. Yet last week as more than 10,000 vending machine operators met in Chicago for their annual convention, they were concerned rather than complacent. Their problem: how to survive the flood of new electronic marvels that...

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