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Twenty-four percent bought online because offline inventory was out of stock, comScore had reported.
We turn the point-of-sale system into an online-offline retail platform," says Wong. Bindo's system combines online and offline inventory, which are updated in real-time as purchases are made, so merchants don't have to manage two systems.
It has struck a partnership with Lightspeed POS and NCR Silver that allows vendors to manage online and offline inventory, and is also a founding developer partner with Poynt, a smart payment terminal that is currently targeting 16 million merchants.
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Consolidating online and offline inventories reduces overall inventory level and, therefore, reduces logistics cost.
But because these e-commerce companies are born on the web, they're able to merge their online and offline inventories for distribution.
Today, the payments company is debuting its order ahead and pickup tool, offline mode and inventory tracking for merchants.
Alibaba's Tmall.com, which hosts online stores for major brands, will have access to Intime's inventory of offline products.
Toysrus.com and its majority shareholder Toys 'R' Us toy will use their longstanding relationships with toy manufacturers to stock the store and its years of offline retail experience to manage inventory for the venture.
With inventories as large as 2,500 different wines (compared with the 400 or so that an offline store might stock), the selection is getting much better.
"The goal is to make local inventory that's offline and even online really accessible in every city," Schaefer said.
While many small merchants have no problem switching to Square; medium-sized, to large merchants need features like offline payments, order pickup, and inventory management.
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