Tag: Worldwide

How MarketOrders is pioneering ‘Smart Retailing’ in the gold jewellery industry

Post author By Ram Krishnna Rao
Post date December 17, 2018

Today, retail shopping involves one of two options; you either buy products online or walk into brick and mortar stores.

These days however more and more people want their goods to be delivered faster and cheaper to their doorsteps which continue to put pressure on traditional retailers or brick and mortar outlets.

But when online shops can’t quite deliver, the customer needs to go to the store themselves and this experience can be very frustrating. Therefore this cannot be the only option.

So let us introduce a new form of retailing called ‘Smart Retailing’ being pioneered by my company, MarketOrders. We are shaping up a new type of retail experience by combining the best of both online and offline retailing for the gold jewellery industry.

At MarketOrders, we call this a converging platform. Our platform is helping to redesign traditional stores into smart retail stores. We help retail jewellers to embrace new technology to enhance their traditional retail stores.

eCommerce and the high street don’t have to fight for sales. Instead, we help our retail jewellers discover how they can use digital tools like MarketOrders to help reach more customers by ordering smarter and cheaper.

Even though the world is becoming more digitised, there is still demand for in-person purchases. People don’t just want to buy a product. They want to buy an experience, especially when it comes to high-value items like gold and diamond jewellery.

Retail stores can embrace this growing trend through what we call ‘Smart Retailing’ and we are already helping traditional gold jewellery retailers to adapt to the new digital world in new and creative ways.

photo credit: https://pixabay.com/en/jewelry-necklace-shop-windows-1159685/

MarketOrders, proof of concept (POC)

So let’s start with your experience when you visit any gold jewellery shop if you have been to one. It takes hours for you to choose and pick that perfect item for your loved ones.

You might not like the design or style or maybe it’s too expensive. It could also be a dull experience if you are having to get the attention of store staff and they are not being particularly helpful!

You could purchase the item online however that is also not a perfect experience. You may want to touch the item, feel it and try it on. The item may also need to be made to order and can’t accommodate a suitable delivery window in time.

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

Introducing the MarketOrders hyper-local mobile commerce vision

From our experience, we have seen that most customers prefer to buy local especially when it comes to jewellery.

Now through the MarketOrders platform and its hyperlocal mobile commerce, everything will be customised the way you want (business owner and end consumers) and the experiences will be powered with technology. This will help the customers to make more informed choices and improve efficiency.

The MarketOrders platform allows the retailer or their customers to pick and choose what they want, when they want and at what price they want.

Purchasing gold jewellery is still operating in a very traditional way. The process was designed decades ago. The retailer has to visit the suppliers to find designs that suit his customers needs based on gut feelings as nothing is digitised or data-driven. This costs time and money and is an inefficient process.

MarketOrders redesigns this experience by bringing universal designs onto our platform. Retailers can view the products they want with no sales pressure to buy, no need to travel to the suppliers on the other side of the world and no longer having to leave the business unattended. Retailers can also purchase from one source instead of multiple distributors which is also time-consuming.

MarketOrders allows retailers to browse what they want and check the price suitability before placing the order and make a request to deliver or pick up at a particular time.

All the small traditional retailers can get a unique makeover by using the MarketOrders platform.

Most brick and mortar jewellery retailers have not changed the way they operate since the mid-eighties and these stores are the lifeblood of many localities and communities. Today they need to be more convenient to cater to today’s shoppers and satisfy their experiential desires.

The real transformation that MarketOrders will bring is digitising the traditional store.

The technology that MarketOrders is building will help traditional retailers with the analytics of their store. This will help decide what products they need, how much they need, who is their customers and etc.

This means the local stores will be better enabled to serve the needs of the local customers. The possibility for small brick and mortar shops are endless with MarketOrders where we are helping to reimagine the stores the way their customers want to shop. Smart Retailing is the future for the gold jewellery industry.

Connect with us:

Web: https://marketorders.net/
Facebook: 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/

Contact details: [email protected]

Written by CEO & Founder, Ram Krishnna Rao

Tags B4B, Blockchain, Connecting, Diamonds, Gold, Jewellery, Manufacturers, MarketOrders, Online, Platform, Retailers, SmartRetail, SMEs, Worldwide

MarketOrders News

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

Post author By Ram Krishnna Rao
Post date July 2, 2018

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

Tags Blockchain, Business, Connecting, Currency, Digital, Gold, Jewellery, Manufacturers, MarketOrders, MO, MOT, MOToken, NewTech, Online, Platform, Retail, SMEs, UK, Worldwide

MarketOrders News

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

Post author By Ram Krishnna Rao
Post date June 18, 2018

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

Tags B4B, Business, Empowering, Gold, Jewellery, Manufacturers, Marketplace, MOT, Online, Platform, Retailers, SMEs, UK, Worldwide

MarketOrders News

The 3 C’s every retailer needs to implement in their business

Post author By Ram Krishnna Rao
Post date March 26, 2018

photo credit: https://pixabay.com/en/agreement-beard-beverage-2548140/

MarketOrders is focused on helping off-line retailers to source the best gold products they need directly from the suppliers. And in order to do that we help retailers adopt the 3 C’s; A Consumer Centric Culture.

Our platform allows our customers to buy the products they need by creating a B4B model. This is known as Business-For-Business. This model works best when both players in the marketplace benefit from each transaction.

And this is exactly what happens with MarketOrders. Our retailer’s benefit from being able to access thousands of products online (when usually they only have access to 20-30 designs and products that the walk in sales man has on him at the time).

And the supplier’s benefit by now being able to service and supply smaller retailers who previously they could not serve due to the minimum order quantities they needed.

MarketOrders bypasses this problem by encouraging smaller orders from retailers and our unique software aggregates these orders into larger orders and routes them to the right supplier who can then accept the large order and provide us with a bulk discount cost. In the B4B model, it’s a win-win situation for all market players.

How do you achieve a Consumer Centric Culture?

A B4B model helps buyers to align with the consumer centric culture.

In order to achieve a consumer centric culture, the B4B model works backward towards a consumer centric culture. This amplifies the needs and wants of the customer coming into the store.

The availability of faster internet penetration and mobile devices allows the B4B concept to become more important because consumers now also have access to more products and have greater visibility of price, Consumers are walking into your shops knowing what they want. The question to retailers is, are you ready to serve your customers with what they are asking for?

We are working hard on creating the MarketOrders platform which can bring greater connections between retailers and manufacturers or suppliers in real time for the first time in a saleable and affordable manner.

A Consumer Centric Culture [3C’s] is one in which retail owners and employees are collectively working to fulfil customer’s needs as their ultimate goal. Everyone is aware of the direct and indirect impact his or her work has on the overall customers experience at every point of interaction within the customer journey.

If you are a retailer, how are you ensuring you create a consumer centric culture in your business? Please post in the comments below with your thoughts.

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

photo credit: https://pixabay.com/en/hand-business-human-africa-african-3230679/

Because 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 is taking the fight to acquire and retain customers down to Consumer Centric Culture in today’s experience economy. Therefore business owners must be able to buy what the need in order to customise their customer’s requirement.

Today’s era is no longer B2C but C2B. Therefore B2B concept of “Make, Ship, Sell” no longer applicable and replace by B4B concept where allows retailers to buy “On Demand”.

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.

Applying B4B concept, market orders built the platform to bring “visibility of supply and Demand” for both retailers and manufacturers by “Digitization” the entire gold jewellery industry by Centralisation. Central network platform will successfully mapping out customer needs and desire, which will help retailer to practice customer centric culture in return.

Marketorders will help retailers to discover what their customer want, create great density with design and selection, transparent system and increase ability to tap to global sellers directly and faster, which will allow speed to market.

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

Centralization allows data collection of every trade on the platform, that able to provide the insight and help grow the business of the participant on the platform with greater engagement to their customer closer. The building of technology embedded on MarketOrders platform are around customer experience and customer focus at the heart of the snowball effect.

The B4B concept with centralization network will help and built the ability of small business to be in control and success at scale.

By centralization of entire gold jewelry industry, it gives lens of visibility to participant of the platform to drive desired outcomes and creates opportunity to research and experiment using the collected data from marketorders platform. This process will give valued insight and able to re-create for each and every users to succeed at scale.

B4B concept model and technology built around customer experience and customer focus on Marketorders platform, help small business understand the customer needs and use the data available to drive the decision for their business success. The data can help participant traders to quantify the equation of the business and help them to operate efficiently and better.

Every facet of marketorders platform, architected to adopt at capturing and analyzing interaction and transaction of every trade data then turn those insight into actions that add-value to the participant of the platform collectively which will drive adoption for more business growth and ultimately lead in helping achieve targeted business outcome.

Written by CEO & Founder, Ram Krishnna Rao