Surge Holdings Inc (OTCQB:SURG) announced Wednesday that it has begun supplying urgently needed safety and health-related products through its SurgePays Direct Wholesale Marketplace to combat the coronavirus pandemic.
Memphis, Tennessee-based Surge is the developer of the SurgePays Marketplace Network, which provides products to the underbanked through convenience stores, bodegas and community markets.
In a statement, Surge said it has “leveraged” direct manufacturing and trade association relationships to procure hand sanitizers, masks, gloves, and other goods, which it has begun selling to its network of independent retailers nationwide.
Surge Holdings CEO Brian Cox pointed out that urgent care products are scarce and in “extremely urgent demand” across all economic groups including the underbanked market, which represents “over 25% of the US population.”
“Our mission has always been to supply the underserved and underbanked communities with essential supplies and services at fair prices. The current landscape has given us an opportunity to show that our value is the relationship we have with these community markets and our ability to pivot quickly to supply these stores with products their customers need now,” said Cox.
“Although supply chains have been disrupted throughout the country, I believe stores purchasing direct through the SurgePays Direct Wholesale Marketplace will have these essential products available on their shelves much sooner than if had they waited for the traditional supply chains to catch up,” he added.
Cox noted that the company anticipated “some exciting results” due to the support of AATAC, one of the country’s largest private trade associations, which is blasting out alerts and sending notifications to tens of thousands of retailers nationwide.
“Our goal is to transition these sales into long-term clients on our network so that we can generate recurring sales revenue across all of our product categories on the SurgePays Direct Wholesale Marketplace,” said Cox.
The SurgePays Direct Wholesale Marketplace disrupts the traditional convenience store supply chain model by providing local retailers direct access to big regional manufacturers.
Surge leverages its wholly-owned subsidiaries (value-driven prepaid wireless and fintech products) to build relationships with convenience stores, bodegas, and community markets. The SurgePays Marketplace also provides manufacturers with cost savings by cutting out distributors and giving them an efficient platform to access independent retailers to sell their products on better terms.
Contact the author Uttara Choudhury at [email protected]
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