Technologies change the world so fast: internet appeared only 20-30 years ago, but today it totally changed rules of business, advertisement, sales etc. Nowadays traditional business models at Dordoi market or Shopping Malls are substituted by electronic trading platforms. From year to year more people prefer to choose comfortable online shopping with delivery rather than tire some walking between boutiques in malls. On domestic example we decided to consider what other advantages customers have at the age of online trading platforms.
One of the most famous online trading platforms in Kyrgyzstan is svetofor.info,it exists on the market already 11 years. During this period the company has faced many changes because its way Svetofor started as an online bookshop but through years customer habits and needs changed, and now it counts more than 50 thousands of goods required for comfortable life at home, office, trips and outside the city.
Today Svetofor works by principles of marketplace. What does it mean?
At 2004 all company’s activities were performed by principles of a usual online shop where a customer buys goods from a single seller –the shop itself. Starting from 2015 it works by absolutely new model which is gainful for both, customers and trading platform, and for the new third party in this model –retailers.
In fact it turns that everyone can register at the platform and sell or buy goods or services. Of course, before goods are set for the sale, every retailer passes the moderation on the subject of legal work and correspondence of goods to quality standards. Thus many aspiring entrepreneurs are able to start business on the ready platform even without significant investments to rent, staff, call center, marketing and delivery.
Customers’ gain in this case is that they have a big choice of the same good among different retailers with different prices, terms of delivery and terms of warranty. Thus, supply all over the Kyrgyzstan is gathered at one platform; customers only need to compare conditions of a sale and choose the best for them, sitting by computer or smartphone.
Interesting fact: Such king of projects was implemented at Kyrgyz market for the first time. Earlier similar projects were only at Western or Eastern countries; the most famous of them are Amazon and AliExpress. It would be fair to notice that Svetofor still differs from listed giants – it allows its clients to make payments for goods after delivery. Besides, the platform has such payment methods as: Bank transfers, Elsom, Visa Cards, Elcard, Yandex Money, POS-terminals, Gift Certificates иcards.
Described functions and possibilities of the marketplace are attractive for buyers and retailers also because offast delivery service. With its help, the marketplace covers 1305 (from existing 1800) settlements in Kyrgyzstan. It solves problems of both, retailers on Svetofor and settlements’ population; now they can buy truly high-quality goods with delivery to their regions.
Moreover, every single good on the marketplace’s website is available for purchase for credit or payment by installments from 9 banks in Kyrgyzstan. It also makes purchases of expensive goods such as major appliances more comfortable. Not so long ago payments by installments by Islamic financing principles (Murabaha) became available on the website.
In platform managers’ opinion, described model’s success is explained by consumer’s behavior which changed within last years. People now less ask pieces of advice among each other and more seek information and ratings in internet. Marketplace satisfies both of these needs; clients are able not only to explore goods and read characteristics but also watch testimonials from other real buyers. With this habit word of mouth came to the new level. Also significant convenience in using marketplace Svetofor is provided by functionality for price comparison, different filters by characteristics of goods and delivery speed.
In conclusion it is possible to say that the main task of marketplace is to help its customers to make a purchase with the best conditions with the help of convenient platform and the largest amount of offers and services from existing retailers on the market.
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