We speak with PriyoShop Co-founder and CEO Asikul Alam Khan about the evolution of PriyoShop right into a B2B e-commerce platform, the huge option in the B2B e-commerce Place in Bangladesh, how PriyoShop has constructed an asset-light-weight product to address the supply chain challenges for that compact Mother-and-pop shops in Bangladesh as well as suppliers, the point out of PriyoShop’s operation these days, its quick-evolving B2B company product, the issues for the organization today and its ambition going ahead, his classes from his entrepreneurial journey and even more.
Asikul Alam Khan: Supplier purchase distribution options. presently, we don't cost just about anything for logistics, it really is paid from our stop. read more We obtain a margin from suppliers providing merchandise on our System and we pay for advertising and marketing and logistics from the margin.
This is a major amount. If you have a expanding operation, it often is actually a obstacle to take care of the quality standard. This is where the individuals problem is available in.
We try to work with suppliers and distributors and assistance them grow. We don’t contend with them. Our model is Tremendous asset-light.
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you can find other opportunities and earnings streams to take a look at. But the industry it is not sufficiently educated. We've superb smartphone penetration.
“the 2nd Component of the technique is exactly what we're contacting manufactured in Bangladesh. distinct aspects of Bangladesh is renowned for various goods,” states Khan. “Some are for Jamdani Sharee and others are for NaKshi Katha etc. These products have nationwide demand from customers and a few are popular in overseas too. We did a study around the pricing of those merchandise and arrived to determine that lots of a time the makers Really don't get the most effective cost. though the product price tag goes up when it goes through the a variety of levels of the availability chain and by the time a buyer will get the merchandise, it is sort of three times of the first price that the maker receives.
We satisfied with a lot of mom-and-pop stores. We visited and talked with them bodily. We frequented many distribution properties and wholesale markets. We learned the present issues in the provision chain.
for those who crunch the quantities, it is the biggest untapped current market. PriyoShop looks to have a plausible method in position to exploit The chance. Its partnerships with government and personal corporations are a good begin.
Our goal is to supply the best possible company to our stakeholders Regardless of the stuation is. let us listen to from among our normal coustomer how we served them throughout the unstable situation. #bangladesh #priyoshop #retail #b2b #unstoppablepriyoshop
via our rural e-commerce initiative, we aren't only providing merchandise to rural locations, but we may also be empowering rural business people to provide their products via our System. Because of this, buyers could get the same product or service for a much better price tag along with the entrepreneurs also get a much better price tag by directly promoting to customers. the target would be to help village entrepreneurs.”
We started almost everything in July 2021 and at the moment are 100% focused on PriyoShop B2B. In some ways, the pivot comes from our practical experience of Doing the job within our mom-and-pop shops as distribution channels.
We could see that the marketplace is untapped and it is a large prospect. Also, we could see that client acquisition Price tag is small and retention largely relies on services.
the best way the FMCG distribution functions is quantity allows you will get extra margins. for those who arrive at a particular quantity, you will get yet another margin. From that margin, we also supply unique sorts of tire pricing to these mom-and-pop retailers. We also supply different kinds of trade marketing and advertising benefits to them. And so the offer is superb for small retailers.