Lagos, August 15th, 2024 — OmniRetail, Africa’s #1 fastest-growing company in 2024, is excited to announce the addition of three groundbreaking AI-powered solutions to its platform designed to enhance retail operations across the continent.
These are the new AI solutions that will help retail value chain players to improve overall efficiency and visibility.
- Generative AI-Powered assistant: OmniRetail launches a state-of-the-art chatbot to simplify order placement on its OmniBiz platform which is an online marketplace tailored for retailers. Retailers can effortlessly access real-time product information, discover exclusive promotions, and track their orders all through a simple chat interface.
- AI-Driven Credit Scoring for Working Capital: OmniPay’s AI-powered credit scoring system provides customized working capital financing options to retailers and distributors. Traditionally, MSMEs and the informal sector have struggled to access financial services due to a lack of formal financial records. OmniPay addresses this challenge by analyzing transaction data, including consistency, preferred brands, rate of depletion, and transaction volumes. This AI solution offers personalized credit limits, empowering small businesses to grow confidently and access the capital they need.
- AI-Driven Solution to Scale Merchandising: This innovative approach redefines traditional retail by seamlessly digitizing product placement and visibility campaigns. Through advanced AI integration, manufacturers can now instantly reward retailers for maintaining product visibility on store shelves. Retailers can participate by sharing daily shelf pictures via the OmniBiz mobile app, ensuring product visibility compliance. This solution not only modernizes the retail landscape but also fosters stronger manufacturer-retailer relationships by creating a transparent, data-driven system that incentivizes product placement and drives sales performance.
It works like a lens where it can automatically identify the products.
“The introduction of these AI-powered solutions is a significant step towards enhancing efficiency and profitability in the retail value chain. “By providing value chain players with tools that streamline operations and access to capital, we empower them to thrive in a competitive market. Our commitment is to transform the traditional retail landscape and ensure that even remote communities have consistent access to essential goods at the right prices.” – Deepankar Rustagi, CEO OmniRetail.
Overall Impact on the Retail Value Chain
These innovative solutions enhance the entire retail value chain by simplifying procurement, improving product visibility, and providing crucial financial support. Retailers benefit from streamlined processes, increased sales opportunities, and access to necessary working capital, which collectively contribute to a more efficient and dynamic retail ecosystem.
About OmniRetail
OmniRetail is a leading B2B e-commerce platform committed to digitizing the traditional retail sector across Africa. Their mission is to rewire traditional trade and catalyze positive socioeconomic change across Africa. Since 2019, they’ve been at the forefront creating a network of network platforms that revolutionizes the distribution of essential goods. Their technology bridges the gap between urban abundance and rural scarcity, ensuring fair pricing and consistent access to necessities such as food and personal care products.
