Mumbai: India’s largest online marketplace for excess inventory liquidation – Excess2sell.com is revolutionizing a niche but critical aspect of the B2B business by offering players in the sector an opportunity to find markets for dormant products. The three year old start-up has created an online platform that connects potential buyers and sellers across the country for commodities that may be in surplus for one party and in demand for another. Over the last three years, excess2sell.com has liquidated over Rs.150 crore of inventories. Prior to the company coming into existence this inventory was considered a liability which would be written off at some point of time in the future. In the last year alone, the company mobilised over Rs.85 crore worth of excess inventory which has given the 200,000 businesses connected through its online and app channels a new platform to liquidate their unsold and ageing stocks.
“India’s B2B business base is 50 million strong and while it is a direct supplier of goods to the country’s 14 million retailer base, its reach remains stunted. E-tailing in India grew rapidly to become a $525 billion industry because it enjoys the advantage of being in the B2C marketplace. But the B2B e-commerce market is yet to realize its full potential and what it needs right now is a solutions based tech intervention. By offering a solution to address the pain points of the otherwise tech reclusive sector, excess2sell has given players in the B2B segment a reason and an incentive to come aboard,” says Rajan Sharma, Founder & Chief Executive Officer, Excess2Sell.com.
Today excess2sell.com has become an indispensable e-commerce platform for the B2B sector by becoming a means of unblocking the locked up capital or a potential write off.
“Till date we have liquidated over Rs.150 crore of excess inventories with over 500 transacting members and a retention rate exceeding 70 per cent. Our aim is to expand our trading member base by 100 times from the current numbers to reach 50,000 trading members and which is a tangible target to meet. This translates to a billion dollar plus top-line and even then we would have only just scratched the surface. Our estimate of the branded packaged goods market size is $500 billion in the $2.8 trillion Indian economy. Even if we address only around half of this market and considering that we take 20 per cent of this as slow moving, that still is a $50 billion opportunity and the numbers are expected to double in six years from now,” adds Sharma.
Many B2B companies have begun building their own platforms to tap into this relatively less explored market that is expected to reach to $700 billion by 2020. However excess2Sell.com has taken the lead as India’s largest pure B2B online marketplace for liquidating ageing and unsold assets.
“We have offered a solution to this perennial issue while bringing the large unorganised segment under the organised B2B e-commerce space. With a registered partners base of over 30,000 pure B2B players, the company has a lead in the sector that connects close to 2,00,000 businesses through its online and app channels. While there are other tech enabled companies that serve in the B2B segment which address the full market, we have found the sweet spot which is excess inventory. Our platform acts as an enabler to the existing B2B ecosystem and offers a solution to the unsold, excess and ageing inventory issue. We are confident that this avenue will pave the way for sustainable and scalable growth B2B e-commerce,” concludes Rajan.