As OM Holdings International (OTC: OMHI) is launching its Local On-Demand Technology, or LODETECH, in the Caribbean to digitize the provision of transport, delivery, and services in the region through a single app, investor interest continues to grow at the announcement that OMHI will leverage OneMart’s stores to serve as Amazon-like hubs for the endeavor.
OneMart, the second-largest grocery in the British Virgin Islands, enjoys significant public support, and with its 35-year history of strong sales, the company is a boon for OMHI as it works to bring its technology to all 28 countries in the Caribbean.
OneMart Brings To The Table Its Strong Relationships With The Public, Evidenced By Its Impressive Sales.
The decades-long success of OneMart has led to $28M in annual revenue. Mark Vanterpool, OneMart’s Founder, explains that the key to the chain’s popularity lies in its price appeal on core grocery items. “Twice monthly, One Mart offers ‘The People Sale,’ which gives major price drops on regular food and household items, such as potatoes, onions, carrots, peppers, apples, and rice,” Vanterpool explains. “Such items see a 50% or greater drop in prices for 8 days of the month. This helps the ordinary household budget, saving customers thousands of dollars each year. This has given OneMart the popular name ‘The People’s Store.’”
Also behind the store’s strong sales is the friendly customer service of its employees. “Workers are constantly trained and retrained to give above and beyond the typical customer service,” Vanterpool says. “On any given day, customers may be greeted by owners Mark or Judith, who thank them for shopping at OneMart. That friendliness is one reason our customers return to us.”
Food that is fresh and of a high quality is a third trademark of OneMart. “It was true 35 years ago, and it remains true today,” Vanterpool states. “When OneMart started as a 600 ft2 fruit and vegetable stand, our food was fresh.
Today, we have a 50,000 ft2 store, and you will still find high-quality, fresh fruits and vegetables.”
Vanterpool believes that by providing OneMart’s excellent products as well as its enthusiastic customers, OMHI’s LODETECH is on track to be that much more successful.
OneMart’s size helped it during the pandemic and resulting economic downturn. With such a large store, customers enjoyed comfortable, spacious shopping during the time
of social distancing. “We were also able to pivot rapidly to online shopping and delivery,” Vanterpool shares. “Our store may be large, but we have retained a structure that allows us to quickly adapt to changing conditions when needed. The government also purchased goods from OneMart, which added to our bottom line. This all helped us to profit when other stores were unfortunately hurting. I believe this is why we will help OMHI and LODETECH to be successful: we know how to thrive even when the world throws a curveball, which will inevitably come again.”
Vanterpool says that OneMart’s unusual success has been due in part to its policy of reducing expenses at the corporate level and of focusing on the employees at the customer level, whether in-store or online. “We have seen this pay off because it reduces overheads and leads to a higher level of customer service as well as higher profits,” says Vanterpool. “In the grocery business, high volume, lower prices, and inventory control is considered the winning combination, and it has resulted in OneMart’s higher-than-usual net profit. We are bringing that wisdom and experience to LODETECH.”
OneMart will rely on this history as it helps OMHI to make DoGetGo, its unique, all-in-one app, a success. “There are millions of people who live in the Caribbean,” Vanterpool says. “A large percentage lack access to on-demand services. That’s why our technology is so exciting. With it, shoppers across the region will be able to register online, shop, and order deliveries of their groceries from OneMart, similar to the Instacart grocery delivery app. We anticipate accelerated revenue as well as increased market penetration, including to the USVI, Cayman Islands, Bahamas, and all other Caribbean countries.”
“OneMart is ready to help make LODETECH a resounding success,” Vanterpool says. “Personally, I can’t wait for the day the app is released. I think OneMart customers and people across the Caribbean are in for a completely new shopping experience, one that is more modern, convenient, and efficient. As soon as our app goes live, be sure to check it out and see how much better shopping will be.”
OMHI is the fusion of Mark Vanterpool’s OneMart, the BVI’s second-largest grocery, and Mark Hannah’s Rydeum, whose technology LODETECH allows users to access on-demand services from multiple providers. Under Mark Vanterpool’s leadership, OMHI is developing a multi-tenant, on-demand technology platform that will bring together OneMart’s stores and loyal customer base while Rydeum has announced its partnership with Jamaica’s largest taxicab union, which includes 12,000 drivers. With such strong support and a potential user base of 44,000,000 people, OMHI is set to become the Amazon of the Caribbean.
Thu, August 19, 2021, 3:14 PM·