About Souqbox – Our Story, Mission & Future
When Campbell & Mike set up a digital market for the food industry in 2014, the founding team decided to build the technology from scratch as they couldn’t find a platform solution to meet their B2B trading needs. Campbell & Mike thought that there must be other B2B trading companies that need a platform to launch their online marketplace.
That idea became SouqBox and was launched in 2017 after a flagship customer with a clear requirement commissioned SouqBox to build a solution.
The Opportunity and Our Solution
The Internet has already changed our buying behaviour and expectations in the consumer world. Even if your business is not yet online you have probably used a digital marketplace like Amazon, Uber, Airbnb or eBay. Marketplaces are different from traditional e-commerce as they serve multiple sellers and multiple buyers.
It’s fair to say that B2B trading is some way behind B2C in the digital marketplace arena. As the decision-makers in business evolve through, we are seeing more and more customers that live a digital life as a consumer and expect the same benefits in their business lives.
Did you know 40% of e-commerce shoppers now turn to Amazon first when looking for a product, imagine the growth your business could experience if you could access a similar number of potential buyers from your industry?
Souqbox - Designed for the Specific Requirements of B2B
With a SouqBox digital marketplace platform that can be possible. There are other marketplace/eCommerce solutions available but our platform has been designed and built from the ground up to be focused on the specific needs of businesses who specialize in B2B trading.
The B2B economy differs from B2C because everything is price negotiable. This means that for eCommerce to work, it must be an offer based trading platform. That is what the SouqBox T-hub platform has been designed to do.
Our new flagship product M-hub has now launched and this incorporates some of the learnings from our eCommerce background but is much more orientated to a manufacturing operation.
We are working towards expanding our platform to become the digital hub for B2B businesses.
We want to make it easy for any sized B2B company to transact digitally with their customers as professionally as any B2C experience.
What We’ve Achieved So Far…
In 2019 we launched T-hub. Covid 19 threw some challenges and opportunities and tis ultimately lead us to M-hub in 2022.
SouqBox also builds and manages systems for clients and our services team has grown continuously since we launched in 2017.
The Future for Souqbox
The next step for SouqBox is to build on our early success, expand the platform into other verticals, drive efficiencies into the platform plus we have a plan to develop the platform architecture to include more customization and bespoke features. We will be adding advanced features through late 2023 into 2024 including inventory management, CRM , integrated chat and marketing comms to name a few.
Since the COVID19 pandemic started in March 2020, we have spoken to many customers who have told us that being able to sell online is now more important than ever. as the whole world is adapting to new ways of doing business and remote working, we are seeing signs that even more traditional sectors are accelerating their efforts to have an online selling capability.
Your Invite to Come Along for the Journey
We believe we are on the cusp of a new generation of specialist B2B trading models. . SouqBox is powering that revolution and it has already started.
We are also proud to be assisting customers with circular economy models and see this as both an exciting commercial opportunity as well as our part in helping to drive for a sustainable future for us and our clients.
If your industry is ready for digital disruption or you are interested in circular economy trading, we’d love to hear from you.