**London**: NearSt has introduced an innovative solution for UK convenience retailers, linking EPoS systems and inventory with major delivery platforms. Backed by Bright Minds Capital Partners, the initiative promises enhanced local commerce and impressive sales growth, as demonstrated by early adopter Pricewatch Group.
NearSt, an innovative platform that integrates physical retail with digital marketplace capabilities, has recently unveiled a new solution tailored for convenience retailers in the UK. This technology is designed to automatically connect Electronic Point of Sale (EPoS) systems and in-store inventory with leading delivery platforms, including Uber Eats, Deliveroo, and Just Eat.
This move comes in the wake of an undisclosed investment from Bright Minds Capital Partners, a firm that seeks to support companies shaping industry trends. David Holme, Founder and Executive Chairman of Bright Minds Capital Partners, remarked, “We invest in companies that set trends. NearSt is transforming the visibility of local businesses, ensuring they thrive in the digital age. Their AI-driven approach aligns perfectly with our vision of technology as a force for real-world impact.”
Nick Brackenbury, CEO of NearSt, emphasised the importance of local commerce, stating, “The future of commerce is local, and bridging the physical and digital worlds of retail is key to unlocking its full potential.” He added that the backing of Bright Minds Capital Partners would enhance NearSt’s ability to expand its platform and broaden its local inventory feed technology’s reach to customers and businesses worldwide.
The initiative has already yielded positive results. Pricewatch Group, which operates under the brands Morrisons Daily, Nisa, Gulf, and BP, was the first retail entity to adopt NearSt’s real-time local inventory feeds connected to delivery platforms, initiating this integration in September 2024. The group has reported substantial improvements, including a remarkable 913% growth in sales through last mile delivery channels during the first 11 weeks, with Just Eat sales alone increasing by 233%. Other accomplishments include saving 59 hours per month in menu management tasks, a 37% reduction in failed orders per week, and a 115% expansion in the range of products available on last mile menus.
Tom Buckley, General Manager at Pricewatch Group, shared his experience with NearSt, saying, “We tried multiple digital partners and previously spent hours manually uploading inventory data. Then NearSt just comes along and makes it work. We’ve saved so much time and been able to reallocate it elsewhere to get much more done. From an operational time-saving aspect, it has been invaluable.”
Further highlighting the benefits, Claire Goddard, Marketing Manager at Pricewatch Group, stated, “NearSt has made it achievable for us to run a cost-effective last mile operation that’s saving us a huge amount of time and money. We now have a flawless and professional menu that rivals those of the major supermarket chains making it a dream for our customers to shop and buy on.”
The changes introduced by NearSt reflect a broader trend in the retail sector, where technology is increasingly being employed to enhance operational efficiency and customer experience. With its commitment to empowering local retailers, NearSt positions itself as a pivotal player in bridging the gap between traditional brick-and-mortar stores and the growing expectations of digital convenience.
Source: Noah Wire Services
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