January 12th, 2020 - New York City, NY - Frayt announced today at the NRF that they are expanding to consumer retail locations. After initially launching to help companies like Firestone, Tires Plus, etc… ship product from store to store, they found that one of their customers used the app to ship their products to consumers’ homes directly - resulting in an astounding 40% annual sales growth.
Frayt is an Uber-like app that allows businesses and now consumers to instantly schedule a driver to deliver goods to their homes. They leverage over 3,000 professional drivers across 13 major markets. Founded with a vision to help retail businesses move product from store to store, Frayt recently stumbled into an industry changing opportunity by shipping products from stores to consumers homes.
“At a time where retail is getting crushed at the hands of Amazon - we’ve stumbled into a way for local brick and mortar stores to out-run Amazon; by leveraging their biggest strength - desirable inventory within immediate driving distance of the home,” said Lawrence McCord, Frayt CEO.
Despite a record year for the U.S. economy, the retail industry has continued its precipitous decline, closing almost 10,000 stores in 2019 alone. E-commerce platforms like Amazon, and now Walmart continue to pick up market-share.
“The truth is, the market has changed...if you aren’t shooting for instant on-demand delivery of your goods, you’re waiting to die,” said Lawrence McCord, a 20-year transportation industry entrepreneur.
Fray initially launched in 2018 after graduating from the Gbeta startup accelerator. They began by serving retail businesses who needed to ship products from store to store. They raised a Seed round of funding in 2019 and added 10 markets in the past year.
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