TradeStone Launches Marketplace for Retail Buyers
NEW YORK—TradeStone Software unveiled Bamboo Rose, an invitation-only marketplace meant to aid retail buyers with their buying trips, at the National Retail Federation’s recent 101st Annual Convention and Expo.
The new program is meant to assist buyers who are shopping in-person or online with the organization of products viewed during on-site market trips.
The application is offered through cloud computing and as a mobile app, and it is made up of screened buyers and sellers limited to TradeStone retailers and the suppliers they invite. This represents more than $260 billion in retail sales being serviced by approximately 20,000 suppliers, according to the company.
The idea was to create a vetted marketplace for retailers and suppliers using TradeStone Software’s merchandise lifecycle technology so that suppliers can market their goods and retailers can better prepare for each season. Sellers create showrooms where retailers can virtually shop the market to make their own catalogs, request samples and create buying trips.
It allows merchants to publish wish lists of products they are looking for to a vetted list of suppliers; shop suppliers’ showrooms online and order samples from them; plan and organize buying trips; and shop trade fairs with only a smartphone, yet have all of their information available when they return home. Additionally, a “Tell TradeStone” button allows buyers to convert the shopping experience into a buying transaction by sending information from Bamboo Rose to the TradeStone system as they browse items online or on-site at showrooms and trade show booths.
“TradeStone’s MLM technology allows us to support the seamless integration and flow from the shopping experience in Bamboo Rose to the buying transaction in TradeStone,” Sue Welch, chief executive officer of TradeStone Software, said in a statement. “We focused the speed of our implementations on getting our solutions to be rapidly adopted, so we have been able to build a strong community that is embracing our marketplace offering.”
The company reports that retailers have cited savings of more than 60 days in getting products to market, as well as reduced travel expenses, access to an extended supplier community, and the ability to more efficiently collaborate and organize buying trips.
American Eagle Outfitters, Kohl’s, Macy’s and Pacific Sunwear are some of the retailers that use TradeStone Software.
The company is headquartered in Gloucester, Mass., with offices in Atlanta, Bangalore, Hong Kong and London.—D.C.
