3.1 ROMARKET Business and Features
Last updated
Last updated
| ‘All Roads Lead to Rome, All Deliveries Lead to ROMARKET’
ROMARKET is an ordering and delivery application specializing in local supermarkets, which was created to revitalize local businesses and economy. As the scale of online food services increases every year and the 'Homeconomy (Home+Economy)', where various economic activities are made at home, is gaining attention, the landscape of distribution market has changed significantly. As large quick commerce companies dominate the online distribution market, the market size of supermarkets, also called local marts, has decreased significantly, and local supermarkets and small business owners are facing a threat to their chance of survival. ROMARKET has come to light in the midst of an urgent need for a win-win service that can connect local supermarkets that have lost their place with the online market.
In the ROMARKET's survey on local supermarkets, it turned out that consumers prioritize accessibility to stores and convenience in purchasing. We came up with possibilities in the fact that necessities such as groceries and fresh foods that are immediately needed are being purchased at nearby local supermarkets rather than large retailers due to convenience.
Construction of an online mall
Construction of all stores within 30 minutes regardless of the region
Burden of constructing an online mall
Automation system
Registration and automatic reflection of prices of not only industrial products but also small-packaged fresh products
Burden of additional management manpower
Difficulty in registering all products including fresh food
Reflection of product prices
Low construction and maintenance costs
Initial construction costs: 500,000 KRW
Low commission rate of 1% (Sales from ROMARKET)
Burden of construction/maintenance costs
Over 30 million KRW for at least 6 months
Manager pages for each market
Matters on order, delivery, etc. can be confirmed in manager pages
Difficulty in systematic confirmation of order, payment and delivery
Support for design and creation of promotional channel
Free design of banners, flyers, etc.
Burden of publicity and marketing
ROMARKET is an app created to provide an environment for the self-reliance and survival of small business owners, boasting low initial costs, maintenance fees and commission rates. By providing a high level of services as well as satisfying the needs of local supermarket owners and customers, ROMARKET is becoming a win-win partner for local supermarkets.
Continuous increase in single-person households
Small-package, single-use products than bulk products
Small-packaged food ingredients
‘Homeconomy’ trend
Needs for simple cooking products and groceries
The freshest products such as vegetables, fruits, meat, etc.
Selection of products that meet the needs of local residents
A supermarket platform that allows order/payment/delivery
GPS-based local supermarket is available
Changes in consumption patterns
Order/payment/delivery are all made in one place
Online/Contact-free platform specializing in local supermarkets
Changes in the distribution market due to COVID-19
Increase in e-commerce sales
Needs for contact-free order/payment channels
Delivery Culture
Fast delivery
From the supermarket in front of my house
(Delivered within an hour on average)
ROMARKET and local supermarkets are providing precious values to local communities, members, and small business owners by satisfying the needs of consumers.
ROMARKET provides an automatic interlocking system that allows efficient management of inventory and prices by making a network with a local supermarket's POS (Point Of Sale System). Besides, it will get regular customers by continuously providing the best service to consumers based on active maintenance and customer services, which will contribute to an increase in sales. By virtue of its greatest strength of accessibility to customers, a delivery service is made within an hour, allowing customers to experience differentiated services compared to large commerce companies.
Recently, a variety of new functions are being provided based on system enhancement work. The ‘personalized product recommendation function’ is a function that provides recommendations of optimized products based on analyses of individual purchasing patterns, facilitating customized convenience in purchasing based on customers’ shopping experiences. The ‘automated product image matching function’ is a system that uses a database to automatically match a product to a customized category based on product names collected from a store. In the future, a faster and more accurate matching system which utilizes big data technology and database distribution technology is to be provided.
Personalized product recommendation
Algorithmizing data collected by tracking individual purchasing patterns every month
Automated product image matching
Enhancing product image matching based on product names (Currently 50% > 80-90% as a goal)
Automated matching of recipes and ingredients
Optimizing exposure of ingredients within recipe categories
Automated inventory management based on order status
Reduction in lead time and load time for reflecting inventory (Currently an hour’s interval > 3 minutes’ interval as a goal)
Automated creation of purchasing sites and order management sites for each store
Contributing to an increase in the sales of supermarkets and development of local commercial districts by giving a unique website address to each supermarkets
ROMARKET is taking the lead in the continuous growth of local commercial districts based on the connection between local supermarkets and consumers and the activation of economy in the society at large based on utilization of local currency.
The number of franchise stores on ROMARKET is steadily growing, and the sales from ROMARKET are also increasing continuously, making the best record in the second half of 2022. ROMARKET has successfully entered the market based on favorable reviews from customers, leading to the growth of the company and stable profitability.
At the same time, ROMARKET holds various patents. These patents contribute to securing of technological superiority, maintenance of competitiveness in the market and consequently cultivation of a new market.
Network-based payment methods and systems
Patent/ROMARKET Co., Ltd
Republic of Korea/10-1820891
ROMARKET
Trademark/ROMARKET Co., Ltd.
Republic of Korea/40-2020-0092464
Republic of Korea/40-2021-0068222
Republic of Korea/40-2021-0056731
Republic of Korea/40-2021-0080327
Republic of Korea/40-2021-0080549
Neighborhood delivery
Trademark/ROMARKET Co., Ltd.
Republic of Korea/40-2021-0019103
Personalized product recommendation
Copyright/ROMARKET Co., Ltd.
Republic of Korea/C-2020-033517
Automated product image matching
Copyright/ROMARKET Co., Ltd.
Republic of Korea/C-2020-033520
Automated matching of recipes and ingredients
Copyright/ROMARKET Co., Ltd.
Republic of Korea/C-2020-033516
Automated inventory management based on order status
Copyright/ROMARKET Co., Ltd.
Republic of Korea/C-2020-033515
Automated creation of purchasing sites and order management sites for each store
Copyright/ROMARKET Co., Ltd.
Republic of Korea/C-2020-033514
ROMARKET will lead changes in the domestic e-commerce market. ROMARKET will not remain as an online distribution market centered on local small business owners. ROMARKET is pursuing ‘ROMARKET of the World’ based on a global strategy for it to be used in various countries around the world. By advancing into various countries and various local commercial districts, ROMARKET will leap forward as a global distribution platform taking the lead in the 'food culture'.
