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MarketOrders COO Sukhi Jutla shortlisted at the London Asian Business Awards

 

We are delighted to announce that our Co-Founder & COO Sukhi Jutla has been shortlisted into the finals under Disruptive Entrepreneur of the Year category at the 3rd London Asian Business Awards!

Another great achievement for MarketOrders that recognises the quality of our fantastic team.

So far, MarketOrders has been nominated and/or won 21 awards! You can find them all on our Awards page here.

 

Congratulations to the other finalists!

DR SUKHBINDER NOORPURI (i-GP, Kent)

Priyanka Raswant (Highbrow, Soho)

Nikhil Shah (London Town Group, Paddington)

Rupa Ganatra Popat (FUTR Group, Soho)

Deepak Tailor (Latest Free Stuff, Ilford)

Tahreem Arshad (Sozie, Surbiton)

Sanjay Patel (The Hundred, Camden)

Amin Hamzianpour (The Qube, West London)

Harsha Rathnayake (Junk Hunters, Willesden)

 

The prestigious and glamorous award ceremony will be held on the 26th September 2019 at The Millennium Gloucester Hotel, Kensington, London.

Until then, fingers crossed!

 

Official press release:

 

MarketOrders Co-Founder Sukhi Jutla shortlisted as finalist in the Disruptive Entrepreneur of the Year category for the 3rd London Asian Business Awards 2019

 

London, September 13, 2019: Hundreds of the best professionals and businesses have been shortlisted as finalists for the 3rd London Asian Business Awards 2019. They received nominations across the capital. The Awards celebrate a wide range of the South-Asian community’s achievements. These include the worlds of business, charity, food, technology, law and finance.

The Awards showcase the strength of the Asian community, the impact they have on London’s culture & economy, and highlights their progression over the last year. Categories range from Rising Star, Young Entrepreneur of the Year to International Business of the Year.

The Awards will be held at the Millennium Gloucester Hotel in Kensington on Thursday 26th September.

MarketOrders Co-Founder Sukhi Jutla has been shortlisted as finalist in the Disruptive Entrepreneur of the Year category. Sukhi Jutla will know if she is a winner during the elegant ceremony held in September.

She commented on her nomination: “It’s an honour and privilege to be recognised as a finalist in this year’s awards as a Disruptive Entrepreneur. I believe a win for any woman is a win for every woman everywhere who aspire to achieve their full potential and to live fearlessly and that is something I aim to do on a daily basis through my work. Shining a spotlight on the business achievements of the Asian diaspora I hope encourages the community to keep striving to build better businesses and to inspire the next generation of Asian entrepreneurs”.

The London Business Journal are official media partner for the Awards. The Asian Women’s Resource Centre who provide specialist domestic violence support services to women and children across London are charity partners for the event.

The London Asian Business Awards 2019 presented by Greenleaf Catering are organised by Oceanic Consulting – the UK’s leading ethnic awards company. CEO Irfan Younis said “the London Asian Business community is one to really be celebrated and talked about. They’re a community of amazing achievements, skilled entrepreneurs, business acumen, social mobility and inspiring role models who have consistently gone from strength to strength. Best of luck to all finalists, we look forward to an exciting night.”

With 13 years of experience, Oceanic Consulting host annual award ceremonies in major English, Scottish and Irish cities. Campaigns include the Curry Awards, Asian Business, Asian Food, British Muslim, British Indian and Britain’s Asian Wedding Awards.

 

The full list of finalists can be found here.

 

– ENDS –

 (Note to Editors)

 

To learn more about MarketOrders: https://marketorders.net

LinkedIn: https://www.linkedin.com/company/market-orders

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MarketOrders News

MarketOrders at the International Jewellery London (IJL) 2019

The International Jewellery London (IJL) is the pre-eminent annual destination for the best of British fine jewellery, as well as leading brands from around the globe.

It is the global meeting place for the jewellery trade so it’s only natural that MarketOrders attended. Our COO & Co-Founder Sukhi Jutla was also asked to speak on a panel about The Future of Fine Jewellery.

In this blog post, she gives her personal take on the IFL and the key takeaways points and trends she learned as well as an overview of her panel talk.

About IJL No alt text provided for this image

The IFL is an annual event held in London over the course of 3 days. There were a number of seminars, talks and workshops talking about the new trends and technologies emerging in the jewellery industry.

The exhibition featured a catwalk show showing the latest jewellery designs, an inspiration theatre talking about how to embrace technologies to improve customer experiences and the knowledge Hub where I was speaking.

The key themes at IFL focused on: 

  • The future of lab-grown diamonds
  • The Future of Fine Jewellery
  • Jewellery trends for 2020
  • How to embrace systems and tech to deliver the ultimate shopping experience
  • Sustainability in the jewellery trade

 

MarketOrders point of viewKrystian Ozog also came along and he looks after our customers at MarketOrders as our Chief Customer Care Officer

Walking around the Olympia exhibition centre with the most beautiful and dazzling jewellery collections looking back at you made me think even deeper about how MarkterOrders can best serve the industry and more specifically, help our retailers.

Almost everyone I spoke to said their biggest issues were with not being able to communicate enough to the end consumer. 

With most of the products being created by designers, suppliers and manufacturers who are often removed from the consumer on the high street, it can be hard to see what products are selling and why some items don’t sell. 

Without some sort of communication with the end consumer, it can be difficult to truly provide what the consumer needs.

This is why MarketOrders exists; to bridge that gap. By only placing orders from retailers, suppliers will only produce items that are needed.

Retailers are best placed to place orders as they face off to the customer on a daily basis. They understand what sells and what won’t.

By placing personalised orders on-demand, retailers can be confident that they can sell their stock and not have to meltdown items that don’t sell or be stuck with inventory on shelves.

No alt text provided for this image

The Future of Fine Jewellery Panel 

If you missed my panel talk here are the key highlights from my panel.

I was joined by Naomi Newton-Sherlock, the Creative Director at Domino and Daisy Grice, a jewellery designer. Chairing the panel was Asha Pitt from the Professional Jeweller.

Note: MarkeOrders has a profile feature in Septembers edition of the Professional Jewellery which you can check out here on page 78.

 

 

On Millenials and jewellery trends….No alt text provided for this image

  • Millennials shop in different ways. They are not looking to buy a product but an experience. So can retailers keep up with these changing consumer demands?
  • It’s no longer seen as fashionable to buy expensive jewellery if demi-stones look just as good and are half the price. Millennials are image-conscious and want to be able to keep up with changing fashion trends without the costs involved.
  • Consumers and Millenials, in particular, are looking for convenience and personalisation. They are not buying a product but experiences as they value experiences more highly.

 

What advancements should the jewellery industry be embracing?Our visionary CEO of MarketOrders was also in attendance at the IFL to look for new trends.

  • Retailers are no longer selling a product but an experience.
  • Consumers value individual attention, customization and personalisation as opposed to mass-market customer service.
  • Retailers and designers need to think about how best to reach their customers and listen to what they are asking for

When it comes to responsible jewellery manufacture, do consumers really care? 

  • If given the choice, most consumers would opt for the responsibly sourced jewellery but retailers say this is still a small proportion of their sales simply because not enough suppliers are providing this due to the extra costs involved.
  • Perhaps if consumers voted with the pounds in their pockets then things could potentially change.
  • However, responsibly sourced jewellery is still more expensive and not enough consumers feel they want to pay extra for this.

Demi-fine / semi-fine jewellery continues to grow as a market segment; should fine jewellers be concerned?

  • Not necessarily. Most retailers are now stocking an array of different types of jewellery so that they can cater to all consumers.
  • In order to stay ahead it is vital retailers notice and adapts to consumers changing demands otherwise they risk being left behind.

Q) How can technology improve the consumer experience and industry margins?

 

  • Without a doubt, it is imperative the industry embraces technology to better serve their consumers.Our Chief Customer Care Officer, Krystian Ozog relaxes on a chair after a busy conference!
  • Retailers need to have omni-channels, different ways to reach their consumers and give them different options to see and buy their products.
  • Make the purchase an experience and not just a transaction.
  • The jewellery industry is no longer competing with other jewellery but with other products. Jewellery used to be a popular gifting idea but now it’s competing with the latest iPhone, tech gadget or luxury holiday!

I hope you enjoyed this roundup summary of IFL, looking forward to next year!

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MarketOrders News

MarketOrders Co-Founder meets easyJet Founder!

MarketOrders Co-Founder Sukhi Jutla meets easyJet Founder Sir Stelios Haji-Ioannou

 

It’s not every day that you bump into a billionaire but trust our co-founder Sukhi to do so!

As many of you may know, a few weeks ago in May Sukhi was invited to Keynote speak at the Digital Enterprise Show (DES) in Madrid, where MarketOrders also walked away with an award for Digital Innovation.

En route to Spain, Sukhi bumped into Sir Stelios Haji-Ioannou, who is a British Cypriot entrepreneur best known for setting up easyJet.

Here is Sukhi’s first-hand account:

No one really likes hanging out at airports but for entrepreneurs, it can be golden time to catch up on emails and social media.

Other times, it’s also great to just wander around the terminal and that is exactly what I decided to do as I waited to board my flight to Madrid to keynote at The Digital Enterprise show (DES).

As I walked past WH Smiths lo and behold I saw a very familiar face! It was a round face with a familiar smile and I could see this person intently perusing the phone charging section of the store.

As an entrepreneur, I have devoured various articles and books on the most successful business people and billionaires in an effort to learn from their journeys.

So when I saw Sir Stelios, I went straight up to him, held out my hand and introduced myself to him. He took one look at me, chuckled and said ‘ You must be an entrepreneur’.

I asked him why he would say that and he said ‘’because it takes one to know one!’’

He was delightful, taking a few minutes to take a photo with me and learn about what I am creating with MarketOrders.

He wished me the very best as we parted ways and said ‘Keep up the great work’.

More stories to come!

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5 trends that will shape the jewellery industry in 2019

 

Buying jewellery is an emotional experience and most times it is being purchased for a special person or a special event.

 

This is why so many jewellery purchases happen in-store rather than online. But this is because no trusted marketplace exists which gives both the customer and retailer confidence to buy and sell online.

 

In the past, most purchases were done instore and the jewellery industry is not usually associated with embracing technology. But this is all changing.

 

At MarketOrders we have seen the trend shifting to embrace technology in the jewellery market.

 

We work hard every day to help our customer, the independent family jeweller to thrive on the high street by using MarketOrders as their technology partner.

 

We do this by leveraging the power of technology which allows our customer to access products globally using our marketplace.

 

For independent retail jewellers to remain  competitive they need two things- incredible designs and lower prices in order to attract customers

 

MarketOrders is helping to create this by becoming the leading marketplace globally to offer the widest choice of products through one secure global jewellery marketplace.

 

Based on our extensive experience and in-depth industry expertise, here are 5 trends that will shape the jewellery industry in 2019

 

  1. Customers want to shop more locally

It is a paradox that the more globally connected we become the more locally we tend to shop.

This is good news for the high retail jeweller. Commoditized products like toothpaste and groceries can be bought online but jewellery purchases are emotional and in most cases, customers want to see the product in the store. MarketOrders can help drive customers in store by providing the retailer with the widest choice of products which will attract in-store customers

 

photo credit: https://pixabay.com/en/woman-girl-model-try-style-1326709/

 

 

  1. The high street is NOT dead

The consumer journey typically starts on the mobile device but is increasingly ending up in the physical store. An increasing amount of people actually prefer to go to store. According to new research from Vista Retail Support, 81% of UK consumers see the physical store as vital to the shopping experience and 70% say they enjoy the full experience of going into stores to browse, see what’s new and buy what they like.

 

  1. Technology to drive in-store purchases

The exciting use of technology will entice more consumers inside a store, research from Vista Retail Support showed 61% of consumers would visit regularly to use virtual and augmented reality applications, smart mirrors and interactive gaming. We will see an increasing number of stores offering virtual experiences. Imagine putting on a headset in store to see the mine where your gold and diamonds came from!

 

  1. Customisation & data

Retail jewellers will continue to embrace customisations as they will begin to understand that customers will purchase more when they receive personalised recommendations and offers on smart devices. There will be an increasing trend and need for jewellers to better understand their data.

 

  1. Millennials and Post Millennials drive purchases

This market segment is increasing, has purchasing power and most importantly are digital savvy. They embrace shopping online as well as making the majority of purchases through their smart devices. The jewellery industry will become more mobile optimised as they start to adapt to this new customer who values exciting, transparent and smooth shopping experiences. This generation also values experiences and would come in store if the experience was exciting.

 

photo credit: https://pixabay.com/en/email-business-smartphone-screen-2056028/

 

 

About MarketOrders

MarketOrders helps independent retail jewellers to get the products they need faster, cheaper and direct from global suppliers. If you are an independent retail jeweller find out more at https://marketorders.net/

 

Connect with us:

Web: https://marketorders.net/
Facebook: https://www.facebook.com/marketordersofficial/
Twitter: https://twitter.com/Market_Orders
Instagram: https://www.instagram.com/marketorder/
LinkedIn: https://www.linkedin.com/company/market-orders/

YouTube: https://www.youtube.com/channel/UCFnJ5_ZVaH3Gpd67Poeunxg

Contact details: [email protected]

 

Written by MarketOrders 

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Press Coverage

MarketOrders named on BusinessCloud’s 301 Female Tech Trailblazers list.

 

MarketOrders is pleased to announce their co-founder and COO, Sukhi Jutla is named as a Female Tech Trailblazer by the latest list announced by Business Cloud.

 

The list is made up of everybody from household names to inspirational women at the start of a journey in tech who have the potential to change the industry. The list is published online at Business Cloud as well in the Q4 2018 print edition.

 

Chris McGuire, BusinessCloud’s editor said:

We’ve ripped up the rule book…rather than limit ourselves to 101 names on our must-read lists we’ve taken off the brakes by publishing the names of 301 female entrepreneurs and pioneers of tech. One statistic that is trotted out is that only 17 per cent of people in the tech sector are women. We need to increase the number of women working in tech and we hope that by publishing a list of 301 female entrepreneurs and pioneers of tech, they’ll become role models to the next generation.’’

 

Ram Krishnna Rao, MarketOrders CEO said:

‘I’m very proud to have a diverse team as we actively encourage and promote more women in tech at MarketOrders so it’s great that my co-founder and COO Sukhi is recognised as a tech pioneer and serves as a role model to other women considering a career in technology.’

 

 

The full list can be viewed online here: https://www.businesscloud.co.uk/301-tech-trailblazers

 

About MarketOrders

MarketOrders helps independent retail jewellers to source the products they need faster, cheaper and direct from suppliers through our innovative tech platform and marketplace.

 

Connect MarketOrders

Web: https://marketorders.net/
Facebook: https://www.facebook.com/marketordersofficial/
Twitter: https://twitter.com/Market_Orders
Instagram: https://www.instagram.com/marketorder/
LinkedIn: https://www.linkedin.com/company/market-orders/

YouTube: https://www.youtube.com/channel/UCFnJ5_ZVaH3Gpd67Poeunxg

Contact details: [email protected]

 

Written by MarketOrders 

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MarketOrders News

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

 

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MarketOrders News

Creating the future of millennial retail with cryptocurrency

 

While the volatility is positive for speculative investors, it is also causing more hesitancy on the part of consumers to use it as a reliable fiat currency alternative. Unfortunately, the cryptocurrency craze has attracted too many ICO startups whose intentions are focused solely on watching their valuation being pushed to the pinnacle by the speculators. Often, there is no other utility outside of their cryptocurrency merely being a way to inflate their bank accounts.

 

MarketOrders solves the problem and challenges faced by offline retailers in dealing with millennial generations of consumers by creating a tech marketplace for them. Millenials are Smartphone driven and attention deficit and need to be able to access information on demand and on their mobiles.

 

 

photo credit: https://pixabay.com/en/office-meeting-business-partners-336368/

 

How is MarketOrders solving this challenges?

 

MarketOrders is bringing a Converging platform for offline retailers to future proof it by embracing new technologies using blockchain technology- NOT the least of which is the advent of cryptocurrency.

 

Blockchain invented a trust-less decentralized currency, owned and transacted by entire communities and movements. This could not be accomplished with traditional [fiat] currency in the circulation.

 

photo credit: https://pixabay.com/en/block-chain-shaking-hands-handshake-3468276/

 

 

For the first time in the modern history, communities can be served by currencies of choice without geographical boundaries, language, race, and religion restriction.

 

Despite a multifold of possibilities this new technology presents, it is critical that MarketOrders focuses initially on embracing this digital era and the millennial uprising that is causing disruption to offline retailers [brick and mortar].

 

This trend is being driven by a desire to tap into the rise of the experiential economy.

 

This experience became the blueprint for every brick and mortar shops. Digitization brings so much of convenience but customers are still looking for surprises and spontaneity in their shopping experience, which can only be achieved with a physical environment.

 

This actually creates positive tension between convenience and smart shopping with the experiential element to it and bring realization to an entire retail industry that in today’s digital and fast-moving technology world, only remain constant is the change.

 

Therefore, retailers are under pressure to move quickly to implement technology into their business. Retailers are constantly seeking technologies to both bolster customer experience and increase efficiency. To execute this vision of online and in-store experiences powered by technology, retailers need to leverage the critical skill sets of both business leaders and infrastructure and operations professionals, which can be very expensive for small retailers.

 

Written by CEO & Founder, Ram Krishnna Rao

 

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MarketOrders News

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

 

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MarketOrders News

Why is the B4B model so important in today’s digital consumer world?

 

Mobile technology and the Internet have empowered consumers in a way that they are now more informed about market offers than the retailers trying to sell to them. Changing their minds or switching providers is now as easy as clicking a mouse. 

The combination of commoditization and the empowered customer makes it even more important to have a Consumer Centric Culture where the experience of purchasing is just as important as the product that has been purchased. (Check out the last post to learn more about the Consumer Centric Culture).

 

 

Therefore, business owners must be able to buy the products they need in order to customise their customer’s requirement and be able to compete effectively in todays ‘experience economy’.

 

photo credit: https://pixabay.com/en/computer-laptop-business-office-3246121/

 

From B2C to C2B

Today’s era is no longer B2C but C2B. The consumer drives the transaction. Therefore, the B2B concept of “Make, Ship, Sell” is no longer applicable and is instead replaced by the B4B concept which allows retailers to buy “On Demand”.

 

 

The B4B model encourages manufacturers to stop thinking about how they can sell more products and start thinking about understanding and actively working with retailers to arrive at a specific end result. Manufactures should be working for retailers, not the other way around.

 

 

Applying the B4B concept, MarketOrders built the platform to bring “visibility of supply and Demand” for both retailers and manufacturers by “Digitization” of the entire gold jewellery industry by centralisation. A central network platform will successfully help to map out customer needs and desires which will help retailers to practice and implement a customer centric culture in return.

 

 

MarketOrders will help retailers to discover what their customers want, create greater density with designs and selection, a transparent system and increase the ability to tap into global sellers directly and faster, which will allow speed to market.

 

 

Now, using the B4B concept, business owners will be surrounded with a customer-inspired culture. In today’s digital customer era, creating a customer centric culture is and should be a top priority for all businesses, especially independent small retailers, in order to thrive in today’s customer first world.

 

The future is centralisation

Centralisation allows data and insights to be collected from every transaction. These insights can help grow the business of the participant on the platform with greater engagement to their customer closer. The building of technology embedded on the MarketOrders platform is focused on customer experience and the customer focus is at the heart of the snowball effect.

 

 

When you add the B4B concept with a centralised network, we will help small businesses to be in better control of their success at scale.

 

photo credit: https://pixabay.com/en/jewelry-manufacturing-manufacturing-1381501/

 

Why does the gold jewellery industry need centralization?

By centralizing the supply chain in the gold jewelry industry, it gives both retailers and suppliers a greater level of visibility in terms of where to source the best products they need.

 

 

The B4B model allows the technology to be built around the customer and helps small business owners understand their customer needs. For once, there will be the ability to see buying trends within the gold markets and this data can be used to generate deep insights for retailers to help drive their business success through better decisions making. These data based insights will drive greater adoption for more business growth and ultimately lead in helping achieve targeted business outcomes.

 

What do you think of the rise of the B4B economy? Post your comments below.

 

Written by CEO & Founder, Ram Krishnna Rao

 

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MarketOrders News

What is a B4B model and how can it impact the gold jewellery retailers & SMEs?

 

MarketOrders is modelling a B4B concept to enhance consumer centric culture among independent gold jewellery retailers.

 

jewelry-store-1803808_640

photo credit: https://pixabay.com/en/jewelry-store-wedding-rings-wedding-1803808/

 

B4B is ‘Business-For-Business’ and it differs from the traditional B2B model (Business-To-Business) by putting the SMEs at the heart of every transaction.

SMEs are empowered to source and order the products they want as opposed to the B2B model whereby manufacturers produce what they want and then push the products down the distribution channel with no regards as to what the SMEs need and want.

And the SME is the one who knows what they need as they face off to the end consumer on a daily basis.

By using MarketOrders, SMEs can tailor their orders to what they need and the data we collect helps them to analyse what products are selling the best. They can use this data to make better and informed decisions.

 

man-3230661_640

photo credit: https://pixabay.com/en/man-people-achievement-african-3230661/

 

There is a severe lack of such data in the jewellery trade industry but these insights are imperative and needed.

MarketOrders will be building out a detailed Data Dashboard for our SMEs so they can track and view what items sell the best.

They can use insights form this data to make better decisions and choices and ultimately be better placed to serve their end consumers. Such data can give them a competitive edge from all the other retailers, especially online, that they are now facing.

Are you a SME operating in the jewellery business? Please share your thoughts and tell us how MarketOrders can serve you better by leaving a comment below this post.

 

Written by CEO & Founder, Ram Krishnna Rao