Product discovery and sourcing platform RangeMe on Thursday (Feb. 17) added a direct purchasing option that will allows retail buyers to browse and then buy CPG products directly from over 200,000 grocery suppliers.
By allowing suppliers to create a B2B digital storefront and open direct sales channels, the San Francisco-based firm said the new purchasing feature will improve the user experience for US retailers who procure good through the digital wholesale marketplace.
“The direct purchasing capability represents the natural evolution of RangeMe,” CEO and founder Nicky Jackson said in a company press release., adding that globally accessible platform was built in 2014 to make it east for retail buyers and CPG suppliers to easily connect.
RangeMe, which calls itself the ‘world’s largest wholesale marketplace’ serves more than 200,000 suppliers representing nearly 1 million products across all consumer packaged goods categories. The company plans to promote its new service at an upcoming industry trade show
“Building on RangeMe’s foundation of offering informed sourcing decisions for retailers, the checkout feature will increase product speed to market while simultaneously benefiting suppliers with a fully scaled sales channel to increase sell-through and create and nurture new retail relationships,” Jackson said.
Related: Cars.com to Snap Up Accu-Trade to Enter Digital Wholesale Sector
In other wholesale marketplace news, automotive marketplace platform Cars.com is finalizing a deal to acquire 100% of the assets of Accu-Trade for $65 million in cash at closing, with the chance for additional cash and stock depending upon reaching particular financial thresholds.
Accu-Trade’s assets include Galves Market Data and MADE Logistics, which offers real-time, VIN-specific appraisal and valuation data. Cars.com expects to make a $63 million earnout payment, but that amount could change when the deal closes, which is likely within 30 days.
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