Press Release

 

MarketOrders is thrilled to announce they have been announced as Finalists in the West London Business Awards in the Start Up of the Year category.

 

The judging panel of the West London Business Awards 2019 met on Wednesday 21 November and today announces its shortlist.

 

The Awards recognise the outstanding achievements of organisations and individuals across five themes: sector leadership, sustainable & responsible business, economic growth, corporate leadership, and individual leadership.

 

The winners in each category, as well as the overall West London Company of the Year 2019, will be announced at a glittering awards ceremony and dinner on Friday 8 February at Twickenham Stadium.

 

Now in their sixth year these are the only business awards for the West London sub-region. They celebrate business excellence, and showcase the innovation and entrepreneurial vibrancy of West London’s remarkable business community.

 

Andrew Dakers, CEO of West London Business said:

“We have again received a fantastic number of high quality entries this year, despite tough entry criteria. Our shortlist, which this year includes Corporate categories for  the first time, provides a window on the excellence that continues to drive West London’s economy forward, as well as the exciting innovations coming through. The awards night at Twickenham will provide a fitting platform, and plenty of inspiration too, as we recognise the success of all these businesses.”

“The Gala dinner will also see us announce our first West London Business Leader of the Year, a Lifetime Achievement Award winner and a new line-up of West London Business Ambassadors.  We look forward to a great night.”

 

Ram Krishnna Rao, CEO of MarketOrders said:

‘’We are thrilled to reach the Finalist stage in this prestigious accolade which further demonstrates that West London can produce award winning start-ups and has a thriving ecosystem for tech based companies. A huge thanks to my team who work with passion and dedication to drive innovation and build MarketOrders into the success it is today.’’

 

 

THE SHORTLIST…

Start-up of the Year:

  • Chariot
  • MarketOrders
  • TempaGoGo
  • The Zero Carbon Project

 
SME Sector Leadership

 
Business Services Company of the Year:

  • First Business Water
  • Locata Housing Services
  • TempaGoGo

 

Creative/Media Business of the Year:

  • Big Group
  • By This River
  • DAZN
  • Insightful Images
  • Stephen Johnson Photography
  • Timeline Television
  • TV Ltd

 

Education and Training Provider of the Year:

  • Rough House Media
  • Shout Out UK Ltd
  • Space Studio West London
  • The JGA Group

 

Finance Business of the Year:

  • Beond Group
  • Lawrence Grant Chartered Accountants
  • Smart Currency Business

 

Food and Drink Business of the Year:

  • Chilli Tuk Tuk
  • Curious Roo Coffee Roasters
  • Ma Baker

 

Health and Wellbeing Business of the Year:

  • Age UK
  • Harrow Mencap
  • The West London Children’s Wellness Centre

 

Hospitality Business of the Year:

  • Artisan
  • Clayton Hotel Chiswick
  • Copthorne Tara Hotel

 

Logistics Business of the Year:

  • Alexanders Removals & Storage
  • Sprint Logistics

 

Manufacturing / Reprocessing Business of the Year:

  • Alter London Limited
  • Everglade Windows
  • Proper Oils

 

Property and Construction Business of the Year:

  • KSBC
  • Wilkinson Construction Consultants

 

Retail / Wholesale Business of the Year:

  • Made of Carpet
  • Petit Miracles
  • World of Tattoos

 

Technology Business of the Year:

  • CustoMem
  • eBusiness Guru
  • Medidata

 
Sustainable and Responsible Business
 

Community Investment Award:

  • A Slice of Nice Cake Co
  • Action West London
  • Ealing Mencap
  • Petit Miracles

 

Green ‘Circular Economy’ Business of the Year:

  • Buckingham Futures
  • CustoMem
  • Green Tomato Cars
  • In Your Face Advertising
  • Lofbergs
  • Proper Oils

 

Economic Growth

 

Coworking Space of the Year:

  • Central Research Laboratory
  • Central Working White City
  • Imperial White City Incubator
  • Open Cell
  • Wimbletech CIC

 

Export / International Business of the Year:

  • DAZN
  • Medidata

 

High Growth SME of the Year:

  • Alexanders Removals & Storage
  • Everglade Windows
  • Pots & Co
  • Timeline Television

 

Read the full article here: https://www.westlondon.com/west-london-business-awards-2019-shortlist-announced/

 

Written by MarketOrders

 

Revolutionising the jewellery retail industry with blockchain and AI

 

So much of the world has been revolutionized by technology yet the retail jewellery industry is still lagging behind.

 

The gold and diamond jewellery industry is still relatively untouched by the benefits of technology and this traditional industry which is run on trust has still not fully embraced the benefits that technology can bring to this sector.

 

It’s no longer enough to just have an online digital presence. The tech world is moving ahead fast with the rise of the blockchain, artificial intelligence (AI and machine learning (ML) that are all playing a critical role for the SME markets in general. these technologies are now being harnessed to authenticate products, speed up transactions and understand their customer profiles better in order to serve them in more new and innovative ways.

 

How SMEs can harness the power of new tech

MarketOrders is on a mission to harness the power of blockchain and AI in small retailers to bring in a new level of innovation.

 

At MarketOrders, we are excited about how innovation can be introduced into the retail industry via the application of the Blockchain and AI.

 

Since the gold and diamond jewellery industry is very new to technology and innovation, there is a huge unmet need in this market which will give rise to new opportunities and possibilities. This, in turn, will unlock a huge amount of potential.  Blockchain and AI will give superpowers to small retailers who are better able to compete.

 

Small retailers especially those who only have brick and mortar shops are bogged down with complex and chaotic systems as most of the processes are conducted offline.

 

Just imagine the efficiencies that could be created when the SMEs embrace digital processes and look to the blockchain and AI to help them better reach their customers and serve them in new ways.

 

Small retailers not only have the potential to transform their businesses but can change or adapt the way they interact with customers.

 

The Rise of Smart Retailing

In this digital experiential economy, the customers first point of interaction is now online and mobile through their smartphones. It is vital SMEs can embrace mobile technology and ensure they are able to reach their customers in the way they engage with technology. We call this the rise of Smart Retailing

 

Today there are more phones than people in the world. MarketOrders will democratize access to smart retailing in the way that Google democratized access to information.

 

Having MarketOrders as a technology partner, retailers do not need to build technology but just plug into our ready-made platform.

 

The Gold Jewelry and Diamond industry are ripe for disruption

The coming revolution in the space of Blockchain and AI into smart retailing can only come from digital upstarts such as MarketOrders rather than any retail unit or existing retailers collectively because today’s industry disruptors tend not to be incumbents.

 

In years to come, Blockchain, AI and Automation in business practice will be viewed like how people viewed the internet; an essential part of the business like smartphones are today.

 

Stay up to date with the latest news by signing up to our newsletter here: https://marketorders.net/

 

Written by CEO & Founder, Ram Krishnna Rao

 

MarketOrders featured as a success story for Mayor of Londons’ Business Growth Programme

 

The Successes #GrowinLDN is a new campaign brought to you by the Business Growth Programme. This campaign was launched to showcase the businesses on the programme who are now successfully growing.

 

We are pleased to announce MarketOrders was featured in this video!

 

Watch the video here which features the CEO and COO of MarketOrders, Ram Krishnna and Sukhi Jutla

 

 

 

About the Business Growth Programme :

 

London & Partners’ Business Growth Programme (BGP) offers impartial advice and support to businesses based in London with between three to 250 employees and turnover of less than £40m looking to grow across London.

 

Launched in July 2017, the programme has gone on to support nearly 400 companies and has already proved an important network for cohort members of the Business Growth Programme to grow their business across London.

 

These exciting startup companies have already expanded their teams, created jobs, strengthened their management talent and teams and raised finance through investment and funding rounds.

 

Key benefits of the programme also include helping companies unlock their business potential by providing strategic solutions including mentoring, workshops, business growth advice and opportunities across our London network.

 

 

http://businessgrowth.london

 

Written by CEO & Founder, Ram Krishnna Rao

 

 

Why We Need More Women in Blockchain

 

photo credit: https://pixabay.com/en/woman-working-business-woman-laptop-690036/

 

We at MarketOrders are very excited about the opportunities blockchain creates for e-commerce and gold retailers. We believe the future is blockchain and now is the best time to start learning about it and understanding the new possibilities it opens up.

 

In this post, our co-founder and COO, Sukhi Jutla, who has deep expertise and experience of blockchain technology writes about the incredible achievements women are achieving in the blockchain space and why we need to continue supporting them. 

 

She also shares tips on how to get involved in the blockchain space for beginners and why she believes we should encourage and support more women in this exciting new field.

 

You can read her guest post on Blockchain Asset Review here: 

 

Blockchain and cryptocurrencies are the latest innovation in technology. There is a clear excitement about the opportunities blockchain presents and it is nearing a pivotal moment in history. And while this brand-new field is still heavily dominated by men, women are quickly closing in and making big names for themselves.

In fact, the blockchain space is the ideal place for women who want to make a big impact and shape the future of what we call as the advent of ‘the internet of value.’

Since the premise of blockchain is about democratising and giving all participants an equal and transparent playing field, this lends itself as the perfect place for women to make a real and lasting impact on this infant industry.

Blockchain no doubt is here to stay, and even traditional industries reluctant to change such as banking and insurance, are waking up to the fact that they need to pay attention to the changes blockchain can bring about.

While almost every tech sector is heavily dominated by men, women now have an opportunity to enter this dynamic industry and actively contribute to and shape the future of this technology.

 

 

Shaping the Next Era of Change

 

It’s important that women are a part of this movement so they too can shape the next era of change.

The lack of women in blockchain has nothing to do with lack of skill but lack of awareness about the technology and lack of a clear path into the emerging industries related to blockchain. It is important to encourage women to become active in the cryptocurrency space and lead by example.

The blockchain is not just the preserve of the finance industry which is heavily dominated by men. Blockchain can disrupt every industry known to humankind, including those traditionally dominated by women such as education, healthcare, social and other non-government sectors, which is all the more reason for them to get involved.

 

With the potential use cases of blockchain-based products being particularly vast, so are opportunities for women. Many professionals in the industry hold various roles. Although a technical skill-sets are most in demand, women in blockchain can take up various other roles – such as academic, commercial, regulatory, and public relations.

 

The great news is that there is an increasing number of women entering the blockchain space. Already, women are making big waves in blockchain, and leading by example. We must shine a light on their achievements because it can only help to bring more women into this field and show support and encouragement to those already breaking boundaries. Here are some of the notable women in blockchain:

• Toni Lane Casserly, CEO of CoinTelegraph: Toni is co-founder of one the biggest online publications for cryptocurrency

• Galia Benartzi, co-founder and business development of Bancor. Galia is a co-founder for Bancor, a digital token platform, which is one of the most successful initial coin offerings so far.

• Fereshteh Forough, founder and CEO at Code to Inspire: Born as an Afghan refugee in Iran, Fereshteh went on to found Code to Inspire, an after-school program that teaches girls in Afghanistan how to code and aims to decrease the gender gap in computer science fields in Afghanistan.

 

 

photo credit: https://pixabay.com/en/adult-woman-people-technology-3373639/

 

How can we get more women involved in blockchain?

As a female tech-founder working in the blockchain space, I’m often asked how I came into the blockchain space and the answer is simple: I followed my curiosity.

I spent over a decade working in finance and banking where I worked closely with the technology teams. During conversations, I would sometimes hear the word blockchain bandied around which piqued my interest. Fuelled by my curiosity I started to look into this field but only actively jumped in a year ago when I decided I wanted to become a vocal part of this rising industry.

I realized that the absence of female mentors can create a barrier to entry but this should be seen as an opportunity for future female leaders. Many women are unfamiliar with blockchain technology and obtaining technical knowledge about the technology can serve as a challenge, especially when the information is varied and scattered across the internet.

And the only way you can participate and make a difference is to get involved. Here are my tips for getting more involved in blockchain, if you are a beginner.

 

1. Join local meet-ups for blockchain

Being based in London, I am part of multiple ‘Women in Blockchain’ groups where we meet on a monthly basis and share our learning on the latest topics and trends in the blockchain space. Sometimes we invite mentors and speakers to share their experiences to learn from.

2. Attend conferences

There are hundreds of conferences happening globally on blockchain. Spend the day immersing yourself in learning about blockchain, talking to the exhibitors and other attendees. See where your curiosity is piqued and where you would like to learn more.

3. Join a start-up in the blockchain space

If you’re looking for a new opportunity, join a start-up in the blockchain space. This is the best way to get hands-on learning about this technology. You don’t have to be a tech expert but you can still help to build and shape products when you understand the basics of how blockchain works.

4. Attend courses and seminars on blockchain

Similar to attending meet-ups attending workshops on this topic will help to give you deeper insights into how this industry works and to network with other members of the industry.

5. Reach out to mentors and role models

I believe we can all learn from each other so don’t hesitate to reach out to other women working in blockchain and ask for their help. It’s important that women support other women onto the blockchain ladder especially when just starting out. If you are already a working in this space, think about mentoring other women or speak at events to raise the profile of women working in blockchain.

We can collectively help to create an atmosphere and environment which encourages more women to consider careers and opportunities in blockchain in the following ways:

  • Diversity and inclusion: Reaching out and providing opportunities for those who lack it
  • Disruption through education: Bringing blockchain education to different communities
  • Networking opportunities: Bridging information gaps to people with all educational and professional backgrounds

This is an industry where anyone with a great idea can disrupt. The possibilities for women are endless and I’m looking forward to seeing the amazing things women do to supercharge this emerging industry.

 

About the author:

Sukhi Jutla is an IBM Blockchain Foundation Developer and in April 2018 made global headlines when she became the World’s First #1 Bestselling ‘Blockchain’ Author. 

Why Retailers should be embracing blockchain

 

 
There have been many stories in the press lately about how the high street is dead. But is this really true? Will the high street die…or is it just time for them to embrace blockchain?

 
We at MarketOrders are always keen to bring fresh ideas and new approaches to our customers, the retailers. We help them to keep up to date with the latest technology and help them to embrace the digital world.

We know from our vast experience that the use of technology in brick-and-mortar shops is vital to help drive deeper customer engagement and emotional connections with local retailers and customers. This, in turn, will elevate the customer experience and create an incentive for shopping offline and driving purchase intent.

 
At MarketOrders, we believe the future of retail sits at the intersection of e-commerce and brick and mortar. We call this the converging platform and this is what MarketOrders is doing.

 
The reason why the giants of e-commerce such as  Alibaba, Amazon and eBay are flourishing today is that they embraced technology and its potential from the very beginning.

 
This is critical. Tech cannot be an afterthought or a side dish. Retailers must embrace technology and have a digital strategy present from the very starts.

 
The rise of cryptocurrency

 
As blockchain tech turns 10 years old, it’s becoming a household word among the millennial generation. While the cryptocurrency market is establishing itself in the world of speculative trading, it has not yet been widely accepted as a viable transaction method for goods and services.

 
Undoubtedly, one of the most common questions people ask is, “How can I use my cryptocurrency aside from trading on an exchange?” Marketorders will bring a practical solution for customers to utilize cryptocurrency to buy, sell and reward in exchange for products and services, within the ecosystem of the platform.

 
Cryptocurrency is inspiring entrepreneurs to create startups, millennial generations to have ownership and association with their own currency of choices that they are craving and desire to make better choices in pursuit of their life quest.

 
Marketorders converging platform and its MOT Token [cryptocurrency] can be the lifeline the offline retailers need to transform. MOT will create the ability to transact with an opportunity to experience a smart retail phenomenon in the future of a cashless society. And we are still only at the very beginning in terms of seeing what blockchain technology can accomplish.

 

 

MOTokens [cryptocurrency] envisions and working towards a future where ultimately MOT, the native currency, will be the cryptocurrency of choice for millennials to spend, earn and transact in the digital world.

 
Our fresh and new strategic platform and approach will pave the way for offline retailers to engage with millennial generations in an experiential economy.

 
This will give millennials a direct say to how their community spends and supports the local retail scene.

 
To align the transformation of brick and mortar of the future and millennial thinkers in entering a new market free of centralization and rich with intelligence and innovation. The cryptocurrency may be just what is needed to enter the smart retail space.

 

Written by CEO & Founder, Ram Krishnna Rao

 

Why the future of retail sits at the intersection of e-commerce and the physical retail shop?

 

The digitisation of Gold Jewellery Industry on MarketOrders platform becomes location agnostic and open to global gold jewellery industry which can constantly evolve by investing in and building Unique IP that will add value for every participant on the platform.

 

In order to make MarketOrders a strong marketplace for the gold jewellery industry, MarketOrders must continue to invest heavily in machine learning, blockchain technology and data – analytics capabilities to gain and gather intelligence from trade data flow.

 

 

MarketOrders enhances the intersection of e-commerce and physical retail stores. Retailers understand that strong customer engagement can only be achieved by implementing new innovation and new technology. This realization causes retailers to think about the need to innovate. They are constantly seeking to evolve and innovate. To execute this vision of an in-store experience powered by technology, retailers need to leverage the capital-skill set of both infrastructure and operations which can cost them a fortune.

 

Keeping in mind that retailers are prime for fresh ideas and new approaches, MarketOrders platform introduces new technology to retailers to help elevate the customer experience and create an incentive for shopping offline and driving purchase intent by increasing the visibility of demand  by allowing retailers to discover product of relevance, reduce shoppers frustration and help create pleasing experience and increasing chance of customer delight.

 

We believe that the future of retail sits at the intersection of e-commerce and the physical retail shop. MarketOrders will bring and enhance these two experiences into a seamless integrated and complementary approach.

 

 

The ultimate goal of MarketOrders is to help retailers to leverage real-time placement for retail stores which will create a concentrated and consolidated Marketplace with retail-user interface integration with a unique point of buying. This will enable and optimize retail buying to be unique, personalized and enable customisable experiences and pushes retailers to know who is their customer in the rise of the experience economy.

 

Today, the world is entering a new phase of globalization where digital technology is rapidly changing the nature of doing business. MarketOrders platform is adopting the technology to digitize the entire end to end supply chain of the gold jewellery industry in this new world across physical and digital commerce by bringing a centralized hub and digitising it.

 

Written by CEO & Founder, Ram Krishnna Rao

 

How MarketOrders is using a three-pronged strategy approach to centralise the gold jewellery industry

 
In the previous post, we touched upon how MarketOrders is using a three-pronged strategy approach. These are centralisation, creating unique IP and e-commerce. In this post, we deep dive into each of these approaches and show why the gold industry needs to adopt a centralised platform.

 
The first strategy as an entry point is to create a centralized platform for the entire Gold Jewellery Industry This will allow retailers visibility and to conduct trade securely. These include discovering new jewellery designs and managing their common audit trail between counterparties on a single platform. In the first instance, MarketOrders platform allows retailers and manufacturers to buy and sell gold jewellery and grow their business.

 
Gold jewellery retailers and manufacturers do not have resources such as expertise and capabilities to digitize their retail shop offerings. This is why its essential to have a digital marketplace. Once retailers get used to trading online, MarketOrders platform can expand quickly to emerging countries and expand the gold jewellery business growth digitally. Global buy, Local sales.

 

 

photo credit: https://pixabay.com/en/handshake-hands-laptop-monitor-3382503/

 

The Second pronged strategy of MarketOrders is by creating Unique IP as a value-adding component of the platform. This includes our unique ‘On Demand Order Aggregator’ system via our smart router system and data-driven supply and demand scoring system.

 
This IP will serve as a unique and inimitable differentiator. As the density of the platform increases, developers can create more attractive IP for MarketOrders platform, which will create higher demand and leads to a greater usage of the platform. This will create a virtuous circle.

 
The third pronged strategy is by MarketOrders providing centralization and concentrated digitize commerce for the Gold jewellery industry. It also can leverage its position to allay fears among traders on the platform.

MarketOrders is a non-manufacturer and non-retailer to allay competitive fears among traders who are using MarketOrders Platform.

 
All these three strategies establish  MarketOrders platform as the dominant standard to digitize Gold Jewellery commerce.

 

 

 Written by CEO & Founder, Ram Krishnna Rao

 

How the gold jewellery industry can adopt a centralised platform strategy

 
The gold jewellery industry is a very ancient industry. It is as old as civilisation itself and its one of the few industries which haven’t been revolutionised by the use of technology…until now that is!

 
MarketOrders is on a mission to bring unity and centralisation to this fragmented industry.  And for the gold industry to become digital, they must first be bought into centralisation.

 
To understand this better, let us consider planes and passengers. For example, when there is no airport, just imagine the scenario. Planes land in any available space to land the aircraft and board the passenger and head back to the destination.

 
Now, this situation would cause havoc in the aviation industry. The passenger has to go to any landing space of aircraft NOT knowing which destination the plane will head back to. And this happens because there is no visibility of demand and supply.

 

photo credit:  https://pixabay.com/en/aircraft-landing-reach-injection-513641/

 

Now, apply this scenario of an airport or hub to that of a centralised platform. You now have total visibility of what planes are available and how many passengers want to take a flight. The passengers will have visibility of which aircraft are at which terminals. They will know what time the planes will leave and which destinations they are heading in.

 
The airport concept serves as a centralised mechanism, not just as a centralised infrastructure connecting passengers, planes and destinations but also providing retail offerings such as shops, restaurants and shopping mall experiences.

 
MarketOrders can leverage a similar system by providing a centralised hub for the gold jewellery industry. This would enable multiple participants such as manufacturers and retailers to collaborate in many ways.

 
As an initial adoption of strategy in building the first ever concentrated market via centralization, MarketOrders is using a three-pronged strategy approach. These are centralisation, creating unique IP and e-commerce. In the next blog post, we take a deep dive into this unique approach.

 

Written by CEO & Founder, Ram Krishnna Rao

 

Why the gold jewellery industry must adopt a platform strategy

 

The gold jewellery industry is a very ancient industry. It is as old as civilisation itself when early humans would gift gold and adorn it on their bodies. From day one it has had a cultural and personal significance. And thousands of years later, it still remains an untapped and fragmented market where technology has yet to make it smark on this industry worth $175 billion dollar industry.

 

photo credit: https://pixabay.com/en/sculpture-museum-perth-gold-digger-1104196/

 
Today, this industry still operates in a highly fragmented and scattered manner. As a result, the industry must re-invent itself as a hub suited for the digital world.

 

Today in digitally dominated economies, marketplaces offer customers the opportunity to connect with one another. The Gold Jewelry industry must adopt this approach of a centralized marketplace. In a way, the marketplace is the most ancient way of trading goods. And this is also where the digital age has gravitated towards – a marketplace that is truly global in scale with thanks to technology.

 

A digitised centralised platform will act as a key advantage for sellers and buyers by allowing them to connect through a digitally initiated platform.

 

Today, digital technologies are changing the nature of globalization. The digital economy is driven by the rapid growth of a digital transformation and it’s happening at a breakneck speed.

 

photo credit: https://pixabay.com/en/bitcoin-money-virtual-market-3137984/

 

The MarketOrders platform will be an engine of innovation for gold jewellery retailers specifically and retailers in general SME’s as it will allow them to participate in international trade without the need to invest in their own technology-driven supply chain.

 

In the changing landscape, gold jewellery retailers and the entire industry needs to re-imagine and re-invent its position in centralised platforms and leverage its current strength in physical gold trade retailing to create a new digital trade.

 

 

Written by CEO & Founder, Ram Krishnna Rao

 

Q& A with the founders of Marketorders

 

Today’s blog is a quick fire Q&A with the Founders, Ram and Sukhi. They talk about what MarketOrders does, how they came up with the idea of digitising the gold trade industry and the defining moment that changed it all.

 

 

Tell us what your business does in fewer than 25 words:

MarketOrders in an online marketplace helping to connect independent jewellery brands directly to manufacturer’s around the world to source the best products at the best price.

 

 

How did you come up with the idea?     

The founders have been in the gold jewellery market for over 15 years and saw how inefficient and archaic the processes and systems are in the gold industry where it is still run in a very traditional manner and only 4% of transactions occur on-line.

 

We found in our previous business that we were still taking orders manually and found there was no online or curated destination for jewellery retailers to be able to source the products they needed. So we decided to help the retailers by accepting multiple small orders from many retailers and aggregating their orders. This aggregated order was then sent to the manufacturer who could accept larger orders and give us bulk discount savings. These savings are then passed back to the jewellery retailers.

 

Without MarketOrders, small retailers cannot access the products and prices the large manufacturer reserves for larger orders and clients. And the manufacturers also benefit by getting more orders from more customers. MarketOrders allows a more efficient way to manage the supply/demand issues that many small retailers and SMEs face.  

 

photo credit: https://pixabay.com/en/dropshipping-oberlo-shopify-3264486/

 

 

What makes your business different from the competition?    

MarketOrders is the only online curated destination for the gold jewellery industry where every step of the process is online. Our customers, the retailers, can order products online, pay online and the products are delivered to their door.

 

All our competitors are still working in a hybrid version where only some of the processes are on-line and the rest is very manual and hence time-consuming which can lead to a lot of delays.

 

By bringing the entire supply chain online  MarketOrders is able to bring greater visibility to the supply and demand of gold jewellery products. We can also collate data and use those insights to help our customers. For example, retailers can track which products sell the most at certain times throughout the year and we can even use this data to do predictive orders.   

 

                          

Who are your clients/customers? How many do you have?

MarketOrders is a 2-sided marketplace so we work with both the jewellery retailers (SMEs) and the manufacturers.

Currently we serve retailers based in the UK and work with manufacturers abroad (Hong Kong, Singapore & Dubai).

Our focus is on serving the gold, diamond and precious metals jewellers in the B2B space.

 

photo credit: https://pixabay.com/en/jewelry-necklace-diamond-ring-3213722/

                            

 

Key moments

 

 

What’s been the most challenging thing about starting your business so far? 

The gold industry is extremely traditional and operates largely off-line. The only way to break into this market is by trust. It took us years to build solid relationships with manufactures and retailers. This took a lot of time and effort to develop but was worth it. Because this is the only way to really understand the problems your customers are facing.

 

Gold is an emotional product; people use it to look beautiful or use it as an investment for their security, so there is a huge amount of trust involved in every transaction. You need to prove that you are providing gold of a premium quality, be very clear and open as to where it is sourced from and to be able to deliver the products on time. So building that deep trust with each one of our customers had to be done in person and was challenging as it took many years to do.                

 

What was your breakthrough moment?   

When we realised we could aggregate multiple small orders from multiple retailers and aggregate them to a larger singular order so the manufacturer could accept the orders and give us bulk discount savings.  This solved 2 problems; allowing smaller retailers to access these large manufacturers and get more designs and products at a lower price and also allow manufacturers to increase their capacity utilisation as their machinery was often left idle as they needed minimum orders to produce the products. For the first time, the gold industry was now on-line and had an on-line presence.             

 

 

What is your goal for your business?

To create the largest and most trusted marketplace for the supply and provision of gold and associated products and take it to an IPO.

 

Written by CEO & Founder, Ram Krishnna Rao