Ecommerce is also disrupting the way distributors are operating and they need to change. As the online purchasing ability is not allowing but giving strategic critical advantages to manufacturers to go D2C, so they are in control of their engagement and brand experience and representation with the buyers, so that they can gather essential data. They will more and more cut out the middle men and distributors.
Distributors are switching and fighting back by introducing dropshipping models. They are providing platforms to their B2B buyers to go online and sell the products, without having to carry the stock. So the retailers are able to list the products online based on a catalogue provided by the distributor/drop shipper. The website retailer will promote the website and once a sale is made by the website. The order is sent to the distributor who fulfills the order by drop shipping it directly to the customer.
This is inline with the influencers trend. Manufacturers are more and more working with influencers to sell their products rather than the traditional way of mass marketing and advertising. They now look for influencers with mass following and get them to promote the products. The manufacturers can choose the influencers and the influencers are able to generate revenues for their sales without the headache of carrying and delivering the stock. This model has become very effective and popular.
The distributors are not only facilitating this model, but are also supporting these online sellers by providing them with catalogues, websites, order fulfillment and other support services. This is both a threat and a huge opportunity for distributors to get ahead of their competition, both by gaining market share and also by drastically reducing costs and increasing margins.
Once again you will not get this right immediately, it takes time, the sooner you start the more time you have to get it right, currently the market/volume is small and hence you can get in with minimal resources and develop your workflows, external partners, internal staff, make mistakes and refine your workflows.
Trying to do this in the last hour and trying to rush will be extremely expensive, the marketing budget needed to catch up will be significant and the mistakes, and there will be mistakes, will be magnified. Training internal staff to the new way of doing business will require time.
Acting now is cheaper and also an insurance policy.
The D2C transaction is different to a B2B which is different to B2C, one size does NOT fit all, you have to get into the operational dynamics of the buyer and seller in each of the markets and build UI/UX specifically designed on how transactions are done in those markets. We use the same core engine, but we build our interfaces around it to ensure that the customer doesn’t need to do any more than is necessary, we make the transactions at each stage as efficient as possible, taking different variables and complexities at each stage.
Taurus has a platform specifically built for B2B sellers and specifically in Trinidad. Getting online requires an ecosystem and infrastructure, one that doesn’t fully exist in Trinidad and hence using international tools and systems is not efficient as they rely on other supporting infrastructure that doesn’t yet exist in Trinidad. We resolve these issues by expanding our solution and tools to provide these support services, this could be payment solutions, shipping logistics, CRM, helpdesk, POS, call centre services, etc…
Many organisations have old internal systems that are not capable of integration and extracting data to present online is difficult, we also help in these cases and find solutions using various options.
B2B purchasing workflow is not like a B2C workflow, we recognise this and hence our B2B solution is completely different to B2C as we understand the pain points and the full efficiency benefits we are able to materialise by a correct workflow design.
Our B2B interface is completely different to B2C, we offer the ability for quick bulk purchases. We also recognise that in the majority B2B purchases are replenishes, so we allow you to create an order based on previous invoices and/or a favourites list. Once we collect sufficient data on purchasing frequency, we can introduce ML (machine learning) recommendation engines.
For the sellers they want to sell 24x7x365, they want to be able to sell anytime the buyer wants to buy. For a country like Trinidad, by going online you expand your reach to every corner of the country. With high internet and mobile penetration rates, you can reach everyone. You can capture consumer data in a way you could not before and then using the data, you can sell in a personalised way. The seller is able to treat each buyer as a unique consumer and not a general mass market.
You can expand and open to new customers without significant investment in bricks and mortar, and do it at a much lower cost and faster speed. It’s a growing market, as the consumer shifts from the physical purchasing channels to the online channels, those that act first will have the opportunity to gain market share and mature their online and in house infrastructure, leaving their competitors scrambling in the last hour.
We're Here To Help!
Taurus One HQ
P8 El Socorro Ext. San Juan
Trinidad and Tobago
Send Us a mail