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Buyfair marketing presentation sept 2018
- 1. buyfair The online marketplace for overstock
- 2. Strong buyer and seller demand Platform solves multiple buyer and seller issues “buyfair is totally unique. It creates a level playing field for all retailers and fair pricing. Never before have independent retailers such as ourselves received offers from brands for such great stock at such great prices.” Nia Evans: Managing Director - BODLON BUYER “Innermost has been waiting for a platform like this; buyfair will disrupt how purchasing is done in future.” Russell Cameron: Founder - INNERMOST SELLER “Last week we were attempting to source 12k glasses for one our hotels… a time consuming and manual process of calling numerous suppliers. All we wanted was a quality product from a quality brand.” Henry Doherty: Procurement Director - HARCOURT BUYER “buyfair’s platform solves very real, pressing, and growing problems both for my business and other sellers, as well as undoubtedly the buyer community.” Roger Morgan-Grenville: Managing Director - DEXAM International; Chairman - BHETA SELLER
- 3. Market A perfect storm facing the traditional retail market value chain Traditional Retailer pressure • Online retailers challenging physical stores • Reduced footfall • Changing consumer habits • Competitive pricing / discounting • Struggle to match product diversity • Higher op costs, reducing margins Short term behaviours • Asian manufacturing driving: • Longer lead times • Higher min. order quantities • Retailers shifting from binding POs to stock forecasts, resulting in: • Overstock risk passed to sellers • Increased discounting • Longer payment cycles • Cut price retailers & middlemen The Result • £5bn Overstock in the UK alone • Working capital issues • Significant warehousing & transport costs • Margins no longer supporting traditional marketing routes
- 4. Market A perfect storm facing the traditional retail market value chain
- 5. buyfair Solution The go-to overstock platform BUYERS • Improved pricing • Access to vetted suppliers • Huge increase in access to global branded products SELLERS • Increased return on excess stock • Expand customer base • Reduce operational costs (e.g. warehousing) • Improved payment terms
- 6. Unique auction platform Significant value in the patented IP Designed by industry experts Specialist tech team with auction experience Complex auction algorithms engine ‘B2C’ style user experience Fully integrated platform – from admin to auction to payment Scalable, with low operational costs Highly valuable IP with international patents filed
- 7. buyfair Functionality Bringing the best of B2C retail experience to the B2B marketplace User control and management of premium brands Vetted and premium buyers and sellers First multi-lot real-time online auction End-to-end automated transactional marketplace Equilibrium and fair prices, levelling the buyer and seller marketplace User ratings and recommendation Algorithm-led engine to maximise auction value
- 8. • 15 years’ wholesale & retail manufacturing experience • Founder & CEO of MAKE International, leading UK homeware manufacturer • Hands-on experience of stock and overstock management, and issues faced by buyers and sellers • Direct access to global buyer and seller network, to rapidly on-board users pre-launch Dominic Speelman CEO • 20 years’ internet marketing and media experience across media agencies, global advertisers • UK & international sales leadership • Retail category experience, incl. developing new revenue streams • Strong trading and transactional online marketplace experience • Responsible for new revenue streams, partnerships, customer service, and staffing Damon Westbury Commercial & Operations Officer Identified and analysed the market failure, developed a tailored solution, engaged buyers/sellers who want to join now Management Team Highly motivated and complementary management team
- 9. • 20 years’ website and software development experience, including complex auction platforms • Founder of two digital agencies • Consultant to multiple SMEs and digital start-ups • Responsible for development of the auction engine, website and front and back end applications Oliver Pluckrose CTO • An IP barrister and a member of Hogarth Chambers • Also advises companies on legal and IP strategies to maximise investor returns • Identified and developed the buyfair patent application • Responsible for all legal and intellectual property matters Guy Tritton Legal & IP Counsel Management Team Highly motivated and complementary management team
- 10. Strong buyer and seller demand Platform solves multiple buyer and seller issues “Finally a site which allows us to compete alongside the multiple retailers. Fantastic!” Lorna Oliver: Owner - LOVELY AND BRITISH BUYER “In order to innovate and bring out new ranges quickly, its key to be able to manage your inventory efficiently and effectively. buyfair allows a larger retailer audience to tap in stock requirements instantly. It’s a win-win situation for both business.” Jonathan Jones: Director - JERSEY POTTERY SELLER “It is a brilliant concept! I don't know why it this hasn't happened sooner?!” Bob England: Owner - ENGLAND AT HOME BUYER “We have overstock of 70,000 units of one SKU alone. This would be a great new sales channel for our business.” Steve McGuire: Sales Director - Tom Dixon SELLER
- 12. Homepage
- 13. Seller module
- 14. Buyer module
- 15. Buyer Auction
- 17. Seller Homepage
- 18. Seller Module
- 19. Seller Module
- 20. Product platform
Editor's Notes
- [roll video]
- Dom – we agreed you would find quotes for t
- Nail the issues and explain that this industry is ripe for disruption.
- Nail the issues and explain that this industry is ripe for disruption.
- Buyer Advantage New Seller Marketplace i) Offers buyers access to previously unavailable premium stock that was once monopolised by discount & overstock retailers ii) Access to vetted sellers ii) Premium stock available in smaller multiple lots, levelling the playing field between large and small retailers iii) Helps bricks and mortar buyers compete with diversity of online retailers. Perfect Market Pricing i) Offers buyers new sellers stock at enhanced/ perfect market pricing. Operational Efficiencies i) More visible stock offering buying team personnel efficiency ii) Last minute buying opportunity improves retailers working capital, while reducing sellers visibility, creating seller uncertainty Seller Advantage New Buyer Marketplace i) Creates a new market, which offers the seller new relationships at speed and scale across a far wider geographical marketplace. Perfect Market Pricing Increased overstock margin for seller as not as beholden to discount retailers and overstock companies Operational Efficiencies & Risk Management i) Diversifies trading risk and buyer reliance by selling inventory to a broader customer base ii)Reduce overstocks and associated costs (e.g. warehousing) by selling large or smaller lots at a fair and equilibrium price iii) Automates the sales process, reducing the need for manual input.
- Industry focus From launch buyfair will be targeted only at the homeware and gift marketplace, focusing on the common problem of overstock. buyfair is starting with this vertical because of deep understanding of Make International’s marketplace, deep buyer and seller industry connections (>2,000 contacts) and access to talent and a belief that buyfair can scale quickly in this industry vertical before moving to others. Buyer and Seller management It is critical for the success of buyfair that the launch is managed to ensure that there are enough sellers of interesting premium product lines on buyfair and enough premium brand buyers to purchase the advertised stock. Crucial to our success is ensuring in the beta trading phase that lines of premium stock are maintained and grown to support the recruitment of more sellers as buyfair moves beyond the beta trading. The buyfair team believe that success in this space will be achieved through the following principles: Targeted recruitment of a carefully selected list of buyers and sellers. Close management of the beta partners, to help sellers manage product lines and buyers in auction techniques. Incentives put in place for buyers and sellers (see below).
- Operational principles Buyfair.com is the online B2B marketplace for overstock addressing supply and demand imbalance via auction pricing and a global network of buyers and sellers The platform will be invitation based by the buyfair community of buyers and sellers. buyfair will deliver price equilibrium through a competitive process, not achievable offline All stock sold must be readily available to ship All buyers and sellers will build ratings from their transactional history and social. Recommendation. All buyers and sellers will be vetted and approved by buyfair to maintain a premium quality of product and trade. buyfair as the platform administrator will be able to remove buyers / sellers from the site. A transactional platform not a shop window, that has been designed to ensure user transactions via the platform in an automated way: Penalise sellers if they pull an auction after it goes live. Automation vs. Manual: Ease of completing a transaction online vs. the hassle of completing offline. Buyers commitment to purchase after entering an auction bid or committing to ‘buy it now’. Auction functionality and USPs. buyfair will operate the first multi lot, dynamic auction, allowing lots to be split based on customer demand and sold to buyers who offer a maximum yield for the seller. buyfair will operate a unique dynamic buy it now price based on demand for the lot being sold, incentivising auction closing and quick sales for entire lot auctions Users will be able to see all live auctions that they are bidding on in a real time dashboard, enabling them to optimise their bids. Sellers can control who see’s their auction through settings such as ‘all buyers’, ‘my buyers’ and ‘buyers I select’. Auction payment is taken through escrow, therefore committing the buyer to purchase, while sellers will be penalised if they pull an auction after it goes live. Introduction and invitation Process for buyers and sellers Initially, A select number of Sellers will introduced into buyfair in the initial launch phase and actively managed to utilise the platform. Simultaneously buyfair will select a series of launch buyers using Make International contacts. All vetted sellers will be able to invite their buyers to the platform and vice versa. This will be an automated process at registration and work on a double opt in principle. These parties will be vetted by buyfair and approved. We believe this will give buyfair exponential growth without the need for
- Need to mention the small non exec / advisory team
- Need to mention the small non exec / advisory team
- Dom – we agreed you would find quotes for t
- buyfair will be the ‘go-to platform’, with strong interdependence between buyers and sellers. Central to this is the auction marketplace to deliver equilibrium pricing
- buyfair will be the ‘go-to platform’, with strong interdependence between buyers and sellers. Central to this is the auction marketplace to deliver equilibrium pricing
- buyfair will be the ‘go-to platform’, with strong interdependence between buyers and sellers. Central to this is the auction marketplace to deliver equilibrium pricing
- buyfair will be the ‘go-to platform’, with strong interdependence between buyers and sellers. Central to this is the auction marketplace to deliver equilibrium pricing
- buyfair will be the ‘go-to platform’, with strong interdependence between buyers and sellers. Central to this is the auction marketplace to deliver equilibrium pricing
- buyfair will be the ‘go-to platform’, with strong interdependence between buyers and sellers. Central to this is the auction marketplace to deliver equilibrium pricing
- buyfair will be the ‘go-to platform’, with strong interdependence between buyers and sellers. Central to this is the auction marketplace to deliver equilibrium pricing
- buyfair will be the ‘go-to platform’, with strong interdependence between buyers and sellers. Central to this is the auction marketplace to deliver equilibrium pricing
- buyfair will be the ‘go-to platform’, with strong interdependence between buyers and sellers. Central to this is the auction marketplace to deliver equilibrium pricing
- buyfair will be the ‘go-to platform’, with strong interdependence between buyers and sellers. Central to this is the auction marketplace to deliver equilibrium pricing