Bangladeshi electronics manufacturer brand Walton is turning heads around as they teamed up with global e-commerce phenomena Amazon to export their products to the USA and sell them via the latter’s platform.
In an agreement that took place in Walton’s corporate office in Dhaka yesterday, on August 22, the two companies signed a deal which allows Amazon to globally sell various Walton products; which initially starts with distribution of Walton branded mobile phones, laptops, computers and home appliances directly to the American market.
The deal with Amazon is opening up Walton’s products to the American market that will pave the way for Walton to become one of the world’s top brands by 2030.
When our electronics market is mainly saturated by Chinese and other popular tech companies, this news assures us about the future of “Made in Bangladesh” electronics products!
This increasing demand for our products will surely open up opportunities for other companies in the near future and expand the local job market as well. The news, however, is also compelling for a huge community of Bangladeshi expats who live in America, as now, they get the chance to buy electronics products from their home living in the land of many tech-giants itself!
A new retail website, called Verishop, has gone live recently. And it goes head-to-head with mammoth platforms like Amazon. The brain behind this venture is the former Chief Strategic Officer of Snapchat, Imran Khan.
Khan being present in the business arena for quite a while had observed some of the frustrations up-and-coming brands have expressed regarding existing sites that have counterfeit products or that hurt brand integrity. Verishop aims to change that and create an even and transparent platform for both buyers and sellers.
The business model of Verishop
Verishop actually buys the inventory directly from the brands. This step is to prevent having counterfeit goods on the site. Verishop hopes this differentiating factor will help build trust with consumers, too.
Is the big tech too big?
Globally companies like Facebook, Amazon, Alphabet etc. are ruling the world. It takes much audacity to come up with a business that has to compete largely with Amazon itself. However, Khan doesn’t feel that the big tech is too absolute. And with proper differentiation of their services, they can have a sustainable business.
“I think our vision is to be the best home for brands,” Khan said in an interview ahead of the launch of Verishop.
“Whenever the consumer is looking for branded products, we want to be their first destination. There is massive growth of direct-to-consumer brands.”
Verishop offers free, two-day shipping with no minimum purchase, free returns and a 24/7 customer-service portal on the web. That means you can buy anything even worth 10 Dollars, and still can get free shipping! This new feature is something that most customers had been waiting for.
There are 2 main shopping sections, Tastemakers and Responsible Shop. Between these two, Tastemakers is solely targetted towards influencers.
In this daunting attempt, let’s hope Imran Khan makes a difference to the world of e-commerce, as he has done in case of Snapchat. A reminder for the readers, this is the same Imran Khan whose BTV debate went viral on Facebook this year!
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