The power of a Retail-Tech platform is not only in upgrading its on-boarded retailers but also in connecting the products and services companies to their target market. This means integrating diverse ecosystems into its fold such that each can interact, inform and respond to their business and customer needs.
The first ecosystem and the largest consumer of this robust platform is the retailer ecosystem. These retailers are mainly the unorganised offline retailers or the ‘mom and pop’ stores that are yet to take advantage of technology to build their business. The Pay1 Retail-Tech platform aims at providing retailers with technology for efficient inventory management, customer buying behaviour analysis, new products and trends, forecasting demand and offering discounts, among the many other features. The platform is also a driver of excellent customer services for the retailer, opportunities for cross-selling and up-selling.
The platform is focussed on creating incremental revenue streams for the unorganised offline retailers, such that they become micro-entrepreneurs with a sustainable and scalable business model.
Another ecosystem embedded in the Pay1 platform is the product and services or the partner companies. The cost of launching new products, parallel promotion via online and offline mediums and focusing on the right distribution channel are some of the many advantages the platform provides to its partners.
The potential of the platform is not limited by the number of products, types of services or competing products, thus making the platform sector, services and brand agnostic. The two-tiered architecture employing a well-lined distributor layer ensures the audience segmentation and targeted promotion.
The Pay1 platform works in unison for the retailers, products and services, distributors and the last mile customers, creating value at every touch point.