A new web application based out of St. John’s, Newfoundland called Thrive Software aims to level the playing field between independent store owners and larger retail outlets, giving small business owners easy-to-use and valuable tools to keep pace — and even excel — in the marketplace.
Thrive could be a real game-changer for smaller retailers, as it takes the guesswork out of retail sales and marketing. Store owners with little to no technical skill can use the application to find out where they should focus their time, energy and money to improve their business’s bottom line.
Elliot Yeo, involved with the sales and marketing end of Thrive, says that one of the long term goals is to make the service not only better, but simpler to use.
“We want to make it easier and more intuitive so that store owners can use it without any external assistance,” says Yeo.
While some of what Thrive has to offer in terms of functionality can work for both online and offline stores, Yeo says the company’s focus right now are those who operate “brick and mortar” businesses.
“It’s rare that you meet any (independent retailers) that are even counting traffic that are coming into their store or responses from different advertising campaigns,” Yeo explains. “Where our application is really effective is that it is encouraging retailers to monitor the traffic that is coming in and out of their store and comparing it with sales data. Our app allows them to put in their traffic, put in their sales data on a continual basis, and it’s giving recommendations based on things like conversion rate.”
With both quantitative and qualitative data at a store owner’s fingertips, Thrive is doing its part to help small businesses stay in step with larger retailers over the long term. Future plans for Thrive include POS Integration and mobile monitoring, enabling users to check on their store from anywhere.
Any independent retailer who is interested in improving their store’s profitability should give the service a try. The public beta test is still going strong, and you can sign up for it here.