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 Trading
With a SouqBox digital marketplace platform that can be possible. There are other marketplace 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 a marketplace to work, it must be an offer based trading platform. That is what the SouqBox platform has been designed to do.
If you take a free demo of our platform you’ll find functionality such as the ability to negotiate and order in different quantities which are fundamental to the way B2B businesses operate.
We are working towards expanding our platform to become the marketplace of choice for B2B trading business. We aim to be help businesses who may not currently manage an online presence have the capability to quickly and efficiently launch a fully branded 3rd party B2B marketplace.
What We’ve Achieved So Far…
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 2020 into 2021 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 marketplaces as business buyers need specialist service and the ability to negotiate. SouqBox is powering that revolution and it has already started. This is especially relevant for circular economy models where price is more elastic.
If your industry needs an online marketplace, or you are interested in circular economy trading, we’d love to hear from you so you can email us and we can set up an initial chat to explore how we can help.