There has been a clear shift during the COVID-19 pandemic in behaviour of consumers, who are now buying more online. This growing trend of online buying is not limited to B2C and it can now be seen even in global B2B buying and selling.
“Digitisation has accelerated, and 40 per cent of consumers are buying more online than they had previously done. In fact, marketplaces contribute more than 50 per cent of the online global retail market,” says Adi Kapadia, head of E-commerce, Fibre2Fashion Pvt Ltd.
With traditional selling comes various challenges like missed orders, low refresh rate, non-availability of new fashion, no possibility of ordering in low MOQ (minimum order quantity), or spending a lot on logistics. Additionally, many retailers miss out on account of inability to invest in more stocks which are needed due to changing customer preferences, nor can they get access to mills and manufacturers directly. To a great extent, these challenges can be overcome by discovering newer and effective ways to engage and compete in the ecosystem.
“F2FMART, a new digital offering of Fibre2Fashion, offers a much needed helping hand to the retailer community (especially those in tier-2 and tier-3 cities) for their buying needs. Compared to traditional buying, they get several advantages: Lower MOQ, lower cost of fulfilment, assured quality, and a range of secured pay options.”
“They also get access to latest fashion from manufacturers as well as fabrics directly from mills producing them, thus saving on both cost and time. What’s more! There is order assurance for buyers with digital back-end managing online seller inventory and logistics,” explains Kapadia.