New Features in MarketPlaceTM Drive Store Traffic and Loyalty by Increasing Local Product Variety
Salt Lake City February 1, 2018 – Park City Group’s (NASDAQ: PCYG) ReposiTrak®, the world’s only sourcing, compliance management and advanced B2B e-commerce platform for retailing, has launched new features in its innovative MarketPlace application to help retailers expand market share by increasing the variety and selection of products with local appeal. The new capability, currently commercially deployed by a top-tier US retailer, allows individual store managers to select and place orders for products from a private electronic marketplace curated and controlled by the corporate category management team.
The new store ordering tools enable the execution of a critical strategic initiative that has proven operationally challenging for many retailers; how to enhance competitiveness and shopper loyalty by increasing the selection of locally appealing or event-themed products across the store network. Many large retailers have found achieving a precise balance of local inventory influence with the efficient central control over quality and costs to be particularly vexing.
“We developed these new features in conjunction with a leading retailer that recognized locally influenced inventories and event-themed product offerings drive traffic, shopper loyalty and basket size,” says Randall K. Fields, Chairman and CEO of Park City Group. “The challenge, particularly for large retailers, is how to create more local variety and selection at the store level without losing control over product quality and cost. And to do it all fast.”
“Our new MarketPlace store ordering features solve that challenge while reducing the time to execute these once manual and cumbersome processes by weeks,” continues Fields. “We call it Speed RetailTM, but it’s really a combination of speed and precision that generates product differentiation and leads to the big competitive advantage. With ReposiTrak, the days of choosing between central purchasing controls and local store influence of product selections are over.”
The new store ordering solutions in MarketPlace are available as part of the integrated ReposiTrak Retail Innovation Platform, which provides an end to end solution for sourcing, supplier compliance management and advanced commerce solutions including Scan-Based Trading and Vendor Managed Inventory.
About Park City Group:
Park City Group (NASDAQ: PCYG) is a Platform-as-a-Service company that owns and operates, ReposiTrak, an end-to-end Compliance, Supply chain, and MarketPlace B2B Ecommerce service platform, that brings unique visibility to the consumer goods supply chain, delivering actionable information to help retailers, wholesalers, and product suppliers to accelerate sales, control risk, and increase supply chain efficiencies. More information is available at www.parkcitygroup.com and www.repositrak.com.
ReposiTrak®, a wholly owned subsidiary of Park City Group (NASDAQ: PCYG), partners with retailers to accelerate sales, control risk and reduce supply chain expense. The ReposiTrak MarketPlace allows retailers to search, sample, vet, onboard, and order from new suppliers to expand local inventories and source popular items in one easy to use, cloud-based application. Risk mitigation via compliance management automation and advanced commerce solutions including scan-based trading and automated ordering are also offered on the integrated ReposiTrak innovation platform, delivering an end to end solution to compete with speed and precision in today’s dynamic retail environment. More information is available at www.repositrak.com.