NEWARK, N.J., July 26, 2017 /PRNewswire/ -- Small
independent retailers, such as bodegas, which provide food and
grocery staples to Latin-American and other immigrant communities
across the country, are struggling to compete with large retail
chains.
Many mom-and-pop stores operate at a competitive disadvantage in
part because they can't honor manufacturers' coupons for popular
consumer package goods (CPGs). The administrative costs of
coupon collection, processing and redemption can be prohibitive for
these retailers.
National Retail Solutions (NRS), a division of IDT Corporation
(NYSE: IDT), has begun offering coupon acceptance and processing
for independent retailers as part of its effort to level the
playing field with the big retail chains.
NRS is deploying a point-of-sale network nationwide. The
network equips retailers with new capabilities – including
acceptance and processing of coupons offered through a loyalty
club.
"The NRS network gives bodegas powerful tools to compete more
effectively," says NRS President, Elie Y.
Katz. "One of these is our loyalty program - the BR Club –
that distributes coupons on popular consumer items to the bodegas'
retail customers."
Every NRS equipped store is part of the BR Club network.
NRS leverages the aggregated buying power of these bodegas to
develop coupon deals with CPG manufacturers. Today, over 3000
stores nationwide participate in the BR Club.
"The BR Club operates like many other loyalty programs," said
Eli Korn, VP of NRS. "Club
members receive coupons offering substantial savings on popular
items. We alert BR Club members to these special offers through
text messages, email, social media, etc. At the store, items
on promotion are clearly marked. Once the customer redeems
the electronic coupon, we issue credit to the stores within 24
hours."
Oscar Dominguez, owner of El
Sol Deli in Newark, NJ, was
among the first to join the NRS retail network. "When NRS shared
their vision, I immediately saw that it had great potential for
retailers like me. I can't compete with the prices of the big
discount stores, but now I can offer special deals on popular
brands and items each month, at no extra cost. The BR Club
coupons are helping my business grow."
The quantity of BR Club coupons issued and their value to
consumers has steadily increased over the past two years as CPG
manufacturers experience the program's benefits. "CPG
suppliers have seen same-store sales on couponed items increase by
as much as 24%. When these deals are integrated with
advertising on our POS terminals' customer-facing screens, sales
jump by as much as 42%," said Hannah
Kestenbaum, Media Manager at NRS.
"BR Club coupons are literally a win-win-win. Consumers
get lower prices on popular items, retailers enjoy increased
foot-traffic and sales, and CPG companies see same-store sales on
promoted items skyrocket," she added.
About National Retail Solutions (NRS):
NRS operates a
point-of-sale (POS) terminal based platform to bodegas and other
independent retailers nationwide. The NRS platform provides a
robust portfolio of tools to help these retailers compete more
effectively including loyalty programs, consumer coupons,
wholesaler discounts, and integration with Boss
Revolution® voice and payment services. Consumer
packaged goods (CPG) suppliers access the NRS platform to offer
promotions, coupons and special offers. The NRS platform
provides CPG suppliers with unprecedented access and reach into the
urban, ethnically focused consumer markets predominantly served by
bodegas and other independent retailers. NRS is a subsidiary
of IDT Corporation (NYSE: IDT).
About IDT Corporation:
IDT Corporation (NYSE: IDT),
through its IDT Telecom division, provides telecommunications and
payment services to individuals and businesses primarily through
its flagship Boss Revolution® and Net2Phone®
brands. IDT Telecom's wholesale business is a leading global
carrier of international long-distance calls. For more
information on IDT, visit www.idt.net.
All statements within this release that are not purely about
historical facts, including, but not limited to, those which use
the words "believe," "anticipate," "expect," "plan," "intend,"
"estimate," "target" and similar expressions, are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. While these forward-looking statements
represent IDT's current judgment of what may happen in the future,
actual results may differ materially from the results expressed or
implied by these statements due to numerous important
factors. IDT's filings with the SEC provide detailed
information on such statements and risks, and should be consulted
along with this release. To the extent permitted under applicable
law, IDT assumes no obligation to update any forward-looking
statements.
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SOURCE National Retail Solutions