How Noida Based Wholesaller.com Is Transforming B2B Indian Retail Ecommerce
Founded by Prayash Meher, Engineer by profession and innovator by heart. He has built the fastest technological platform for the B2B segment. Let’s read out more about the company by the founder himself.
Indian companies have been unaware of the digitalisation of the B2B segment, and they were also ambiguous due to the complexity of the user interface platforms. This problem was anticipated well by Prayash, and he founded Wholesaller.com.
“An easy solution to all complexities of the eCommerce retail sector.”
Wholesaller.com is one of the fastest & most technologically advanced online trade portals in the Indian eCommerce. It is a B2B centric sector, which has a more enigmatic business oriented business model. With listed over 2000+ suppliers & 5000+ registered active buyers, currently trade on Apparels & Electronic accessories having a team of highly pumped product engineers, and managers focused on building next-generation B2B platform that will change the way India small and medium-sized businesses.
Founder of Wholesaller.com - Prayash Meher
Prayash being from an affluent financial background, had learnt Information Technology and built wholesaller.com.
Prayash had passed Mechanical engineering BE & completed MBA in ICFAI business school. He has over seven years of rich and diverse experience in financial Market & team management and more than five years’ experience in Information Technology. It inspired him to built wholesaller.com and solve the current complexity of the e-commerce platform that inhibits users.
Prayash being from an affluent financial background had learnt Information Technology and built wholesaller.com.
How Prayash Helps to Eradicate Market Gap with This Innovative Solution
According to MSME report, expected to grow to US$ 200 billion by 2023, B2B Ecommerce has transformed the way business is done in India. Given this vast market size, it is not surprising that various business models have entered the B2B space in India with players such as Udaan among others.
It majority backed by the eCommerce. India’s E-commerce revenue is expected to jump from US$ 39 billion in 2017 to US$ 120 billion in 2020, growing at an annual rate of 51 per cent, the highest in the world (Service Addressable Market): E-retail market is expected to continue its strong growth, by registering a CAGR of over 35 per cent and to reach Rs 1.8 trillion (US$ 25.75 billion) in FY20.
The biggest driver for companies' growing interest in India's Despite Online, there is no connecting point for supplier & retailer through online less than 3% business are using online B2B trade being such an old industry initiated by MSME Online B2B marketplace became popular only post the success of UDAAN. The TAM for Online B2B Ecommerce is immense, and it cannot be encompassed on a single platform.
"We're incredibly focused on building an encompassing ecosystem supplier to buyers ' various segment of categories needs by expanding our existing network of online and offline suppliers to strengthen segments like Apparels & Garments while venturing into new categories like electronics automobiles accessories and home appliances " said Prayash Meher .
One Size Does Not Fit All
There are more than five-plus B2B e-commerce companies operating in the market selling different categories. Every individual’s buyer requirement is very different, and it needs a deep introspection of the person’s condition to products
Logistic or shipment Processing
Small businesses are facing significant challenges at the time of shipping or getting delivered to their doorstep, the offline supplier can’t first deliver to retailer doorstep we have stated owned logistic & supply chain Firstxpress.in and 20+ third-party logistic partner are serving more than 30000 + pin code across India to smoothening the fast delivery to our buyers
Due to big-ticket size in B2B, most of the retailer prefer Cash on delivery with Online payment our marketplace manage all payment instead of the offline supplier have no option to win the trust of a retailer to manage the payment
Credit buying: Wholesaler is gunning a bigger opportunity. It wants to become a leading platform for merchants who are buying at it. B2B buyers always look for leverages for their business for credit and finance, without credit small businesses are getting difficult to run their business and most of the 1st time suppliers also cannot trust to give credit. Both are facing problems to proceed in business.
The Wholesaller Solution For The Complex eCommerce Problem
· Strong Technology: Our smart and lightning-fast technology simplifies the complex. Do check our website & android application with a fantastic B2B buying experience, fast & friendly user experience yourself at Wholesaller. Based on your product inquiry, we show plans only according to your requirement, and you can get the right product within 5 to 7days to your doorstep.
·Strong Sourcing and Direct Manufacturer Listing: B2B online trade platform that connects small and medium-sized manufacturers and wholesalers with online retailers and also provides them logistics, payments and technology support, has sellers in over 80 cities of India and delivers to over 500 cities. We have a different part of the manufacturer and supplier are listed their product and catalogue in our marketplace.
·Credit Access to Businesses: Despite a lot of actions in the B2B lending space, none of the startups has been able to make a bigger dent in the segment. Most of the lending companies focus on facilitating the loan to mid-sized sellers who have a credit history. None is willing to get into financing small merchants. “Since Udaan knows about the financial health of sellers through transaction history, understand the size of working capital requirements and can recover, it’s in the perfect position to offer loans and collect them without much workforce involvement.
· We don’t just sell our products in our marketplace after three successful transactions we are providing 30% credit buying to our buyer's to extra leverage their business recently we got a licensed of NON-banking financial corporation (NBFC )
Targeting Tier 2, Tier 3 Market
"We serve customers from more than 30K pin codes, many of them located in Tier II and beyond since these are the places where buyers incredibly under-penetrated."
According to Prayash , many customers cannot access traditional credit through online purchase because the unit economics necessary to serve them are not adopted by banks. For wholesaller, the average ticket size varies from Buyer to Buyer - for apparels it would be about INR 20K, while for electronics and other accessories , it can go up to around INR 50K,
The founder claimed that 80% of wholesallers Buyers make a second purchase within next months By default, it is high for B2B order as the customer once acquired mostly repurchased in every month, and we get the same amount of order every month.
Talking of future plans, Prayash said that the backbone of wholesaller service lies in the technology platform that enables Credit payment, and thus it plans to expand the tech use-cases across the entire B2B lending chain. For example, wholesaller is exploring the possibilities of UPI-based credit payment with on UPI' product.
In a nutshell, e-commerce retail is quite vast, and Wholesaller.com has already solved the problem of complexity by curating an easy to use interface. It is beneficial for both buyers and consumers. By the unmatched potential of Prayash Meher, Wholesaller.com has already reached the threshold of success. For, investors are also flocking in the venture, and it will help it to expand further. The company plans to make life easier for clients, buyers and the whole of the B2B segment. Soon, it will secure its spot for the next level. As Prayash smiling quotes,” Sky is only the limit.”
I wish luck and success to Prayash and Wholesaller.com.