Industrybuying launches stock clearance platform for OEMs
“Usually the B2B manufacturers or OEMs have to rely on their distributor network to offload the 10-15% excess inventory for liquidation," Swati Gupta said.
While most OEMs rely on their network to clear excess inventory at the end of every month or quarter, the online channel on Industrybuying called ‘Hot Deals’ provides them a larger market. “Usually the B2B manufacturers or OEMs have to rely on their distributor network to offload the 10-15% excess inventory for liquidation. Currently we have tied-up with 5 to 10 top-selling brands at a commission rate similar to that of their distributor channel,” said Swati Gupta, who co-founded the company in 2013.
The portal currently has a buyer base of 40,000. “We are targeting transaction level profitability by March 2016 and will like to get our unit economics right,” added Swati Gupta. Industrybuying competes with players including IndiaMART backedTolexo and Exfinity Ventures backed Shotang.