Products required for business or industrial operations are in high demand in the current pace of market growth. In a B2B market, the range of sale varies from a large to small volume. With a number of SMEs sprouting in the India market, the market has become rich in transactions giving way to higher demand of a functional and diverse industrial marketplace platform. SMEs being the most potential customer and given the high variety of product requirement, they desire a platform that enables them to procure both direct and semi-direct products.
Looking to meet such expectations, ShakeDeal was set up in the year 2016. The company launched its ecommerce platform considering the rising trend of digitization. The fore-sightedness of the founders of the company led it to become a platform for both sellers and buyers dealing in procurement products. According to the MD & Founder of the company Akshay Hegde, “Since we began in 2016, our ecommerce portal was set up so that the SMEs that double up as accountants and purchase teams have to pay lower price in comparison to the market. That has remained a decent and ever-growing catalogue and our vendors know that SME marketplace is what they see in ShakeDeal.com.”
Horizontal marketplace
ShakeDeal acts as a horizontal marketplace in this sector and is associated with high quality offerings in business products and manufacturing related categories in any operating set up. This is one of the company’s most important USP. As Akshay says, “The discovery of certain items that are available with us and their pricing is actually one of the best in the market. The reason is that it operates like a proprietary pricing intelligence tool which enables us to get real time pricing in the market which is better compared to the market.”
In the year 2018, ShakeDeal introduced private labels in their marketplace platform that has allowed them to elevate their margin of sale as well as revenue. Through such offering the company is able to provide good quality and a very economic pricing. This is another USP of the company. Besides, Akshay mentioned, “These private labels were across categories like tools, safety equipment and so on. The same private labels were extended into the PPE categories of protective equipment when the pandemic hit. So the private labels have performed really well.”
ShakeDeal acts as a horizontal marketplace in this sector and is associated with high quality offerings in business products and manufacturing related categories in any operating set up
The company in its five years of functioning has received quite a few awards. The most significant among them is the fastest growing company of the year at small business awards, which was been awarded to ShakeDeal pertaining to its stupendous growth rate. ShakeDeal, over the years has updated itself with the newest technologies through IT integration that has allowed it to provide the vendors with strong eco-system. The private labels have helped them to remain acquainted with the high demand of protective products of PPE categories.
Future Expansion Plans
The company is expecting major growth in coming 1 or 2 years as Akshay says, “We are looking at expanding our presence further in India with more and large enterprises and SMEs who are growing.” The company has seen a major opportunity due to sentimental shift of sourcing operations from China and is gearing up to match the upcoming needs.
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