By Christine Kern, contributing writer
Platform helps streamline new product discovery and manage product submission processes.
Rite Aid has announced that it is improving its product stocking with the help of RangeMe, a company whose online platform streamlines new product discovery between retailers and their product suppliers. RangeMe’s platform also helps retailers manage the inbound product submission process used by their suppliers, while also benefitting suppliers by giving them more control over the marketing of their products and greater access to retail buyers.
"We strive to provide a tremendous in-store experience for our customers and that starts with our product offerings," said Bill Bergin, Group VP of Health and Beauty at Rite Aid. "With RangeMe, we can now scale our discovery efforts and continue to source products that are unique and meaningful for our customers."
RangeMe states that, in the past year alone, its platform has grown to include more than 70,000 suppliers and more than 250,000 active products across all categories. Among the companies that use it are Sephora, Target, Birchbox, Safeway, Meijer and many others.
Consumers are open to trying new brands as trends are becoming the primary driver of purchasing decisions," said Nicky Jackson, Founder and CEO at RangeMe. "RangeMe looks forward to working with the Rite Aid team and supporting them in their efforts to bring unique products to their customers and differentiate their brand."
Rite Aid's mission is to improve the health and wellness of their communities through engaging experiences that provide their customers with the best products, services and advice to meet their unique needs.
Rite Aid needs to step up its game to compete against e-retailers like Amazon, who are able to deliver fast and convenient orders to customers. This competition means that Rite Aid and other pharmacies need to do a better job of giving customers exactly what they want. That also includes doing a better job of stocking and marketing products that are in high demand by customers.
A recent study from Bazaarvoice demonstrated the extent to which consumers are influenced by what other consumers are buying, as 85 percent of survey respondents said their product selection decisions are driven in part by visual consumer-generated content.