Under a deal announced this morning, the online natural and organic membership club will use the RangeMe platform to help manage new product submissions from suppliers.
An online matchmaker connecting CPG buyers and suppliers, RangeMe is fast becoming the ‘Google of CPG’ and the first port of call for many retailers looking to research new products and identify new vendors, claims the firm, which has attracted more than 125,000 suppliers onto its platform in three years.
RangeMe offers buyers - who are swamped with approaches from suppliers via online forms, email, social media, phone calls, and trade shows – an efficient way to manage inbound approaches and compare what suppliers have to offer, Julie Johnston, SVP of Merchandising & Chief Merchant for Thrive Market, told FoodNavigator-USA.
“We use RangeMe as a brand submission portal every week. Buyers can be inundated with vendors who are eager to get their products on Thrive Market. They are persistent as well. RangeMe is a nice tool in that it streamlines the process for submission and getting samples out to us for evaluation. It is [also] very helpful to see all of the SKU information up front while reviewing brands... It's helpful to the brands as well in that it is an easy user experience for them to use.”
Actionable information to help buyers make better sourcing decisions
While some large CPG brands are using the platform to target specialty retailers they may not have dealt with before, more than half of the suppliers on the platform are generating revenues of less than $5m, RangeMe CEO Nicky Jackson told FoodNavigator-USA in May.
“Small suppliers love it because it allows them to access retail buyers based on their merits, not on who they know... We’re fast becoming the google for CPG, where you can find a new product, and start a conversation with the supplier.
“We’re also adding new functionality all the time, including livestreaming of Nielsen data to help retailers make selections based on data… for example, what products that I am not currently carrying are outperforming the category? What products are trending? We’re offering actionable information to help buyers make better sourcing decisions and move more quickly. We’re also providing aggregated data to Verified suppliers such as what’s the average MSRP in their category, what’s the average margin?”
