Kiwi e-commerce start-up success story

TWC and Minfos achieve pharmacy tech milestone

Wellington e-commerce start-up company Storbie has cemented itself as fundamental when it comes to enabling community pharmacies to put their best foot forward online.

Little more than 10 months on from launching across the ditch, and with $1.5 million of secured funding spurring its expansion, Storbie is servicing more than 100 community pharmacies in Australia, including e-commerce platform integration deals with some of the largest community pharmacy software providers – most of which are the first of their kind.

According to Storbie, it’s no surprise that the e-commerce sector is hot property for investors right now.

After the initial surge of businesses moving to establish an online channel during the lockdown, Storbie is currently witnessing a second wave of demand for e-commerce websites.

New data shows that in August there was a 382% increase in new online store setups compared with the same month last year, the company says.

“It’s becoming increasingly obvious that local businesses are looking at e-commerce in a new light post-lockdown,” says Storbie CEO Shane Bartle. He says that they have seen an increase of more than 113% in new e-commerce website builds this year compared with 2019.

This ‘second wave’ indicates that the pandemic has fundamentally changed the way that people are shopping and for a retailer coming out of response mode, their path to recovery includes a renewed focus on digital channels – especially for the ones who have previously relied on foot-traffic to keep the lights on.

Former Wellington Mayor and Chairman of Storbie’s Board of Directors Justin Lester, adds: “Local retailers don’t want to sit back and leave their survival to chance, they can see that people are doing their shopping online more than they used to, so they are taking the initiative and planning for all possibilities.”

These trends only affirm the relevance of the challenges that Storbie has set out to solve in the industries they’re focused on.

Mr Bartle says that the recent funding enables Storbie to invest in new ways to support local businesses.

“Right from day one, Storbie has been built around this idea of supporting independent retailers. I see this investment as a mandate to continue expanding on our mission to give power back to the little guy.”

Storbie recently posted a result of 112% YoY growth and with other sectors taking notice of the way Storbie is accelerating the transformation of established industries.