ExpoBazaar to enable Indian Exporters tap foreign markets through B2B e-commerce
An initiative of India Expo Mart, ExpoBazaar is a rare combination of technology, along with fully managed warehouse and fulfilment centres for curated Indian merchandise to target overseas markets.
ExpoBazaar – a subsidiary of India Expo Mart, Greater Noida, is a cross border B2B e-marketplace and is set to debut at the IHGF Delhi Fair, 2022 on March 30. The platform enables Indian businesses to market their products to ready-to-buy, verified independent retailers and small businesses across the globe.
B2B e-commerce has risen exponentially in India in the last few years and is expected to reach $1 Trillion by 2024. ExpoBazaar has identified key markets around the globe and will be launching the e-marketplace for US market in the first phase, followed by India and the rest of the world in the next phase.
The digital platform, which hosts over 15 categories like Home Décor, Kitchen & Dining, Furniture, Jewellery and more, was ideated during the pandemic to enable India manufacturers and craftspeople to reach out to the world markets with minimum effort. ExpoBazaar currently spans over 500+ sub categories and has already on-boarded over 100 seller partners to start their journey to international markets.
“We are redefining B2B e-commerce”, said Mr. Rakesh Kumar, Chairman of India Expo Mart and Director General of Export Promotions Council for Handicrafts (EPCH). Explaining what differentiates ExpoBazaar from existing B2B e-commerce platforms, he added, “We want to build a trusted and transparent community of buyers and sellers around the globe. The sellers on ExpoBazaar have uninterrupted access to our on-boarding, marketing and sourcing teams to identify key processes that help create a harmonious seller-buyer ecosystem”
The platform is empowering Indian businesses to exhibit their handcrafted merchandise online and expand to international markets without the high operational and setup costs incurred. To ensure maximum reachability and product visibility, ExpoBazaar conducts in-depth market research and regularly provides EB Seller Partners with demand forecasting and analytics. This process assists seller partners to manufacture products based on current trends and reach the right retailers.
Each product listed on ExpoBazaar is hand curated by experts to make sure that buyers get the best quality products that resonate with the current demand in their market. ExpoBazaar has a dedicated team in place that identifies relevant products and collaborated with seller partners to create merchandise suited to respective foreign markets. “Our team of experts both in the U.S. and India curate merchandise that represents the best of India’s scale, diversity, rich heritage of skills, materials, trades and industries,” said Mr. Dileep Baid, Dileep Trading Corporation. “We understand that businesses want to keep pace with recent trends in fashion and lifestyle. For this reason, these products are curated keeping in mind today’s design and aesthetic preferences so that our culture of home reaches yours. We are calling it India, curated for the world” added Mr. Baid
Along with supporting existing Indian exporters and manufacturers expand their business reach, ExpoBazaar is also encouraging small and novice businesses to come on-board and showcase their creations on the platform. To achieve this, the e-marketplace has used cutting edge technology and utilised state-of-art resources to create a simple, yet alluring B2B e-commerce experience for their sellers and buyers. “With our global e-commerce platform, new businesses can avoid the high costs associated with operating a traditional brick-and-mortar store, take online payments, distribute products with logistics support, reach customers worldwide, operate their store 24 hours a day, and provide excellent customer service. Since we already have a curated website for our seller partners, we assist our seller partners develop a significant presence in the international markets and also generate public interest via social media, e-mailers, infographics, and online adverts, among other methods,” said Mr. Sarabjit Singh, ExpoBazaar
Keeping its pace with technology, ExpoBazaar also boasts of end-to-end supply chain solutions to boost delivery times and efficiency. Their focus is on the Just-in-Time (JIT) model that allows their seller partners to stock their inventory in warehouses managed by ExpoBazaar and are shipped directly to the buyer upon order confirmation. “The JIT model is the need of the hour as it eliminates overproduction and promotes zero defects, zero effects manufacturing. Our 3PL (Third Part Logistics) partner in the US is renowned in the country and together, we are rapidly progressing towards reduced inventory and overhead costs, shipping optimisation, better quality control, and most importantly, higher customer retention”, said Mr. Rakesh Kumar.
ExpoBazaar also employed more than 150 sales representatives in the US to expand its presence and help buyer & sellers understand demand and supply for Indian handcrafted products. The digital platform forecasts a substantial increase in seller partner registrations following their launch at IHGF Delhi Fair, 2022.