How manufacturers and dealers can partner in online retail

BOB HEIDENREICH | September 22, 2019

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I think our industry is missing out on an opportunity for manufacturers in online retail, with product pickup at independent lumberyards. So many manufacturers that are too eager to sell products from their own websites don’t consider how it affects their distribution network. One decking manufacturer once began selling their products online at a price so low they undercut all of their dealers. Another company did the same thing with its lighting products. Both companies, in the end, alienated their loyal dealers. In the independent lumberyard business, a lot of us don’t have the assets or the knowledge or skillsets to be able to be able to create a viable online store. Granted, anyone can make one via eBay or Amazon, and you can get some online presence, but I think a better alternative would be to get the manufactures to team up with independent lumberyards by setting up a website to sell their product, and then make the product available for local pick up at the retail level.

Spotlight

KrazyBee

KrazyBee is India's Largest Student Credit Platform, where college students can purchase anything online, and pay back later via flexible monthly payments. KrazyBee has multiple offerings ranging from financial aid for e-commerce purchases (with partnerships with all leading e-commerce platforms like Amazon, Flipkart, Paytm, Myntra etc.) to two-wheeler loans (both first-hand & second-hand), semester loans (college tuition fees) and even cash loans (Paytm recharge & top-ups on KrazyBee Student PayCard - India's First Student Credit Card). Within its first 2 years of operations, KrazyBee has expanded to 37 cities in India; and with a registered user base of over 7.5 Lakh users. KrazyBee is a brand of Finnovation Tech Solutions Pvt Ltd, which is a Series-A funded company backed cumulatively for over 13 Million USD by Xiaomi Technologies, Shunwei Capital, Plum Ventures, YeahMobi, and Fenqile.

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