India-based Goldiam International has completed the soft launch of its B2B website after the acquisition of Eco-Friendly Diamonds, a successful CVD diamond growing company, a report from Business-Standard says.
After the acquisition, Goldiam was able to successfully beta-test and complete a soft launch for the site, which plans to cater to a new market segment for the U.S. retail jewelry industry.
Goldiam now hopes to make new avenues in its digital push, securing more business on better payment terms and a better margin profile, the report says.
On Friday, Goldiam’s stocks were trading in the green, an India Infoline report said. The company’s stocks were at Rs235.45 per piece up by 0.62 percent in the afternoon on Friday (Jan. 8).
B2B eCommerce has been on the rise as of late, as typified by Udaan‘s $280 million funding round. Udaan plans to utilize the new funding to reach out to a greater amount of India’s small businesses, improve its user experience and boost its technology program.
Co-Founder Amod Malviya said India was at an interesting point for eCommerce, as despite its base of numerous smaller mom-and-pop businesses, the country is also seeing the push toward digitization going faster because of the COVID-19 pandemic. He said the smaller stores were a “lifeline” for India and that Udaan was at the “forefront” of the innovative new ways to run a digital economy.
2020 was a big year for B2B eCommerce in general as sellers connected with customers and buyers used the tech for sourcing and procuring goods the way they would for regular retail shopping. Some of the innovators in the space, PYMNTS writes, included Spryker, which raised $130 million, and Miraki, which raised $300 million.
Marketplaces online are increasingly enticing choices for B2B sales because of the streamlining, while buyers like the opportunities to access more diversity in vendors and products.