Greek technology firm, Convert Group, has unveiled a solution for one of the most important challenges of the COVID-19 retail hysteria. That is, the decreased availability and price fluctuations of coronavirus sensitive products, such as antiseptics, masks and food products, in online pharmacies and groceries.
The firm has launched its “eRetail Content” infrastructure globally, which will allow more manufacturers to get online and keep track of their “digital shelf presence.” In essence, many companies can now use their e-commerce platform to more easily monitor their product availability and ensure they are always fully-stocked amidst the COVID-19 epidemic.
According to Deputy CEO & Director of Product Innovation, Elena Chailazopoulou, the e-commerce platform will also limit the risk of ‘price gouging.’
“Online purchases are skyrocketing around the world. Today, we are seeing uplifts in demand of more than 2.000 percent per week in COVID-19 related products such as antiseptics and masks, more than 100 percent in spaghetti, rice and hygiene products, and about 50 percent in food supplements and vitamins,” Ms Chailazopoulou said.
“That leads to stock-outs and price gouging which is extremely painful for the global communities in their fight against COVID-19.
“It’s for this reason we are extremely proud to be offering our proven technology to manufacturers around the world who want to monitor their digital presence, product availability and sell-out pricing.”
Convert Group’s e-commerce platforms have already been implemented with tremendous success in Italy, Spain and Greece, and they have partnerships with some big multi-national firms such as Dettol, Johnson & Johnson, and Colgate.