Excess2Sell.com Creates A Paradigm Shift In The Ageing Inventory Space, Mobilizes US $2.3 M Worth of Excess Stocks
Mumbai: India’s largest B2B online marketplace for ageing assets – Excess2Sell.com has mobilized over US $2.3 million worth of excess inventory in FY 2017-18. The excess inventory Management Company is the country’s largest networked online marketplace with over 15,000 registered partners. Excess2Sell provides solutions to the 50 million strong B2B businesses in liquidating its overstock and has a reach of over 169,000 B2B businesses on its site.
“With over 10,000 products listed on its site, Excess2Sell.com records approximately 200 active deals and receives anywhere between 70 to 80 new registrations per day. The new partner registration rate has grown by more than 100 per cent over the last FY. A dedicated sales team reaches out to partners daily and Mr. Rajan Sharma, Founder & Chief Executive Officer, Excess2Sell.com keeps them informed about newly listed products and deals. Active engaging with partners has helped the site receive progressively more traffic and per day transactions have increased ten-fold this fiscal,” says Mr. Rajan Sharma, Founder & Chief Executive Officer, Excess2Sell.com.
B2B players are often stuck with unsold inventories which with time begin to depreciate. The current ecosystem for such ageing stocks is skewed as it does not allow the seller to openly disclose the reason for discounting stocks to its existing buyer base. This is the market’s biggest bane. Putting an end to this limitation, Excess2Sell.com offers a confidential, anonymous and neutral platform for both buyers and sellers in the B2B space.
“Excess2sell was launched in March 2016 with the aim to provide solutions to vendors, distributors, wholesalers for managing their ageing inventories and in helping them unblock the paid capital of the supply chain. On an average businesses are stuck with 20-30 per cent unsold inventory which many a times result in write-offs due to the market being fragmented and unorganized. Through the online platform we have been successful in bringing this segment under one roof and offer them a ready market. This market is no longer restricted to the local buyers but the sellers now have potential buyers from the remotest parts of the country,” adds Mr Anant Chaturvedi, Co-founder & Director, Excess2sell.com.
The online start-up had earlier this year raised an undisclosed round of funding from Banking industry veterans Aashish Pitale, Harinder Singh and Sandeep Vyas – founders of Calvetron Holdings. The funding has been deployed for enhancing technology solutions on the platform, expanding footprint and customer base; and for widening the reach of its offerings across the country.
“For the B2B ecommerce segment, the opportunities are immense. The overstock ageing inventory segment is a huge opportunity as most B2B business verticals in India are still unorganised. Post GST implementation we have been able to unify and further simplify the information asymmetry in inventory to our advantage. Our ‘No Inventory’ focus helps keep our business model ‘asset lite’. Excess2Sell.com is a shining example of One India, One Market and we feel positive that its contribution to the excess inventory market will be appreciated in the years to come,” concludes Mr. Navinder Singh Chauhan, Co-founder & Director, Excess2Sell.com.