The detailed analysis, in a sense, isn't critical to our industry. The key is to take on board the fact that, following 15 years of uninterrupted economic growth, we are going through a significant correction. ‘It' is happening and we must PLAN and REACT appropriately.

Although we are in for a couple of difficult years, economic downturns are the ‘engines' of future prosperity. During such times, businesses that take a positive approach, seek further efficiencies and add value for their customers not only survive but are well placed to take advantage as conditions improve.

The way we approach the next couple of years is critical. The tight economic situation will force both current and potential customers to make changes to their own businesses. Change creates opportunity and there will be plenty there for the taking given a positive approach!

The benefits of vending are huge to both consumers and customers, alike. Tough times do not change this but they do motivate the search for improved value.

The first challenge is to plan effectively. Nobody can predict what will actually happen but plans must recognize the growing pressures and put measures in place to manage business through challenging times.

Secondly, we must not reduce the quality of the products that we offer or the service we provide. The longer term prosperity of our Industry will be determined in part by our ability to continue to increase the quality of our products and services to better meet changing consumer needs.

All sectors of the vending industry are facing cost increases. It is painful for everyone and a common approach is needed. We all know what has to done. There is no magic fix but the drive for increased efficiency must be redoubled and net cost increases must be passed on. Clearly, it is essential that there is a strong and reasoned case for the proposed increase and there will, quite rightly, be many challenges from customers. However, when several of our core costs are rising sharply, after seeking our own efficiencies, we must raise prices where necessary.

At every stage on the vending value chain, this approach applies. However, there is a particular need for both ingredient and equipment suppliers to start the process by clearly explaining what has happened in terms of raw material prices, the efficiencies that they have achieved and why prices have to rise. If this is not done in a professional way, their own increases will face additional challenges and this will occur right through the chain.

Overall, whilst recognizing the pressures that a slowing economy brings, the next couple of years will be a period of real opportunity for those businesses that are prepared to adapt to changing circumstances and improve their products and services. In this context, the timing of AVEX 2009 couldn't be better. It will provide an excellent showcase and give exhibitors a tremendous opportunity to show how vending in general and their products in particular can help customers navigate difficult times.

Above all, BE POSITIVE. Changes that are made now will benefit individual businesses and our entire Industry longer term.

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