Retailers can discover SKUs by browsing or searching for the specific items. This catalog is then visible to thousands of retailers already signed up with us. When brands/wholesalers sign on our platform they get a seller panel, through which they can upload their catalog. We have built unique, disruptive and innovative technology solutions specifically for this segment. What's more, the platform is designed to cater to the unique buying and selling needs of the Wholesale segment. We provide complete marketplace platform services including technology, marketing, payment, logistics, customer care and billing and payment to our buyers and Sellers. Wydr is a marketplace platform where brands/wholesalers can sell directly to shopkeepers from across the country. The Wholesalers and retailers do not have a single technology platform where they can discover and transact directly and conveniently, whenever and from wherever. In the B2B retail world today, majority of the transactions happen offline. How Wydr is connecting the buyers and sellers via technology on a single platform? The funding is largely being deployed in Technology and Seller Acquisition. We have done a seed round with some Angel investors. Have you raised any funding so far? What are your plans to use this funding for? The non-transactional revenue would be various sources, advertising to premium services. In future, we will also build non-transactional revenue sources, as B2B is a segment where brands want to spend to increase their reach amongst retailers. Currently, our revenue source is the selling fee, which we charge from sellers on every transaction. We are a completely performance-based platform. Our marketplace mechanism, on the other hand, efficiently brings in higher transparency in products prices. Tell us something about your business mock-up.Īt Wydr, buyers on our platform will get increased sourcing options, real time new product and price discovery, thereby rendering the wholesale hubs redundant.
#Middleman business Offline#
Additionally, the fact that offline retail is and will continue to have lion's share of the retail business was when I saw immense potential in taking the B2B market online. I realized that regressive aspects, like broken-up distribution chain, cost involved in setting-up a sales team across the country, low trust market, payment safety issues and logistics etc were hindering the B2B market from reaching its true potential. It was while dealing with several brands and wholesalers during my past stints with various companies that I came to identify several gaps and pain points in the business of bulk buying and selling. The idea behind Wydr did not come to me overnight. How was the idea of your Startup conceptualized? What is the need you are addressing in the market?
We caught up with Devesh Rai, CEO and Founder, Wydr to understand how he is organizing the fragmented market and connecting the buyers and sellers via technology on a single platform. Wyder is a B2B marketplace that brings brands, wholesalers, importers and retailers on one single platform, with a vision to aggregate the unorganized and fragmented Indian wholesale market. Taking cue from the situation, Devesh Rai, who started his entrepreneurial journey in 2011 with, where he was a founding team member, founded Wyder to make this fragmented market an organized one. Also, industry experts agree that B2B is the next big thing, particularly for India. So it indicates that there is significant headroom for growth in this market segment. If even 5 per cent of it happens online by then, we are talking about a market, as large as, $ 35 billion. If you look at the Walmart study, it estimates B2B wholesale segment to be $ 700 billion by 2020.
Entrepreneur Indiaīut off-late with the advent of technology, the buyers and sellers in the wholesale market have been able to connect directly thereby, avoiding the middlemen! This has also paved way for smoother transactions between buyers and sellers. The middleman gets all the profit from the deal leaving very little margin for the wholesalers to pocket in and be content with. When it comes to India, B2B wholesale market is fragmented, as it is majorly dominated by middlemen.