Can a “IoT-connected refill vending machines dispensing “a part of business model work well, particularly in middle- and upper-class localities? What could be the difficulties?

Answer:

I don't think that an IoT-connected refill vending machine dispensing part of the business model will work well. Some of the difficulties that I feel will be experienced include frequent malfunctioning of the machines and high maintenance costs. The vending machines will translate to huge losses in cases where there is a delay in repairs. The cost of repairing the vending machines will depend on the underlying problem.