NRS Launches B2B Marketplace

Rhea-AI Summary

IDT Corporation announces the launch of the NRS B2B Marketplace, an innovative e-commerce platform connecting wholesale distributors and suppliers with independent retailers across the nation. This initiative aims to facilitate better access to wholesale supplies for small-format stores, enhancing inventory management and sales forecasting. With the support of NRS’ in-house delivery service, distributors can efficiently meet the small ordering needs of these retailers. The initiative is led by Pavel Danilov, who brings expertise in inventory management solutions.

Positive

• Launch of NRS B2B Marketplace enhances access for independent retailers to wholesale distributors.
• Utilization of NRS Cinch delivery service improves logistics for small-format stores.
• NRS B2B Marketplace aims to optimize inventory management and sales for retailers.

Negative

• None.

Marketplace Provides Wholesale Distributors and Suppliers with Access to NRS’ Nationwide Network of Independent Retail Stores and Provides NRS Retailers with Access to a Wide Selection of Wholesale Supplies with Tailored Purchasing and Inventory Management Insights to Increase Sales and Cash-Flows

NEWARK, N.J., Dec. 05, 2022 (GLOBE NEWSWIRE) -- National Retail Solutions, operator of the leading point-of-sale (POS) platform for independent retailers and a subsidiary of IDT Corporation (NYSE: IDT), today announced the launch of the NRS B2B Marketplace.

NRS operates the largest POS network in the country for independent retailers including convenience stores, bodegas, liquor stores, and tobacco stores. These are predominantly small-format, owner-operated stores serving high-density urban communities.

The NRS B2B Marketplace is an e-commerce platform designed to bring wholesale distributors and suppliers together with these independent retailers. Previously, suppliers and distributors were unable to easily reach this large and dynamic retail market because many independent retailers didn’t use order automation, could not meet distributors’ minimum order quantities, and/or had challenging logistical requirements.

From the retailers’ perspective, lack of easy access to wholesale distributors and suppliers has limited the selection of items available, increased supply costs, and made it challenging to efficiently manage inventories.

The NRS B2B Marketplace will provide wholesale distributors and suppliers with access to NRS’ extensive nationwide network of retailers. Because small format stores typically order in small quantities and require frequent shipments, distributors will be able to utilize NRS Cinch, NRS’ in-house delivery service, to arrange cost-effective deliveries directly, or allow NRS Cinch to aggregate orders from multiple retailers to meet minimum order quantities.

The NRS B2B Marketplace will provide retailers with access to a wide selection of wholesale supplies, tailored insights into which items they should carry to increase sales, and advice on optimal order sizes to avoid tying up unnecessary cash and shelf space.

“When a store joins our POS system, it is no longer just a single retail location. It becomes part of our nationwide retail network, and we provide it with the tools and scale it needs to compete effectively against large retail chains. Wholesale distributors can now utilize our B2B Marketplace to access this dynamic retail network with enhanced reach and efficiency,” said Elie Y. Katz, President of NRS.

The NRS B2B Marketplace team will be headed by Pavel Danilov, who has been named NRS’ Vice President for B2B Commerce. Danilov is a tech entrepreneur, who previously served as the Chief Executive Officer of Fridge No More, a New York City-based startup providing ultra-fast grocery delivery. Under his direction, the company built and implemented an inventory management solution powered by AI algorithms that automatically managed reorders based on sales forecasts to ensure efficient and timely replenishment.

“The NRS B2B Marketplace will work in conjunction with our retailers’ POS inventory management software to enable retailers to order the right items and the right amounts of inventory to maximize sales and cash flows,” Danilov explained. “The Marketplace will provide distributors with streamlined access to a large, dynamic customer base that was previously extraordinarily difficult to reach.”

Wholesale distributors and suppliers interested in joining the NRS B2B Marketplace should contact Pavel Danilov (pavel.danilov@idt.net).

About National Retail Solutions (NRS):

National Retail Solutions operates a point-of-sale (POS) terminal-based platform and digital payment processing service for C-stores, bodegas, and other independent retailers nationwide. Retailers utilize NRS offerings to process transactions and manage operations more effectively. Advertisers access the terminal’s digital display network to reach these retailers’ massive, predominantly urban customer bases. Consumer packaged goods (CPG) suppliers leverage the NRS platform to provision promotions, coupons and special offers to independent retailers. NRS is a subsidiary of IDT Corporation (NYSE: IDT).

NRS Contact:
Bill Ulrey
william.ulrey@idt.net

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FAQ

What is the NRS B2B Marketplace launched by IDT?

The NRS B2B Marketplace is an e-commerce platform that connects wholesale distributors and suppliers with independent retailers, facilitating better access to wholesale supplies.

Who is leading the NRS B2B Marketplace initiative?

Pavel Danilov has been appointed as Vice President for B2B Commerce to lead the NRS B2B Marketplace.

How does the NRS B2B Marketplace benefit independent retailers?

It provides retailers with access to a wide selection of wholesale supplies and insights for effective inventory management and sales optimization.

What role does IDT Corporation play in the NRS B2B Marketplace?

IDT Corporation is the parent company of National Retail Solutions, the operator of the NRS B2B Marketplace.