MMK boosts online sales of metal products
MMK Group sold approximately 40 thousand tonnes of metal products through its corporate marketplace in the first seven months of 2023, exceeding its online sales for all of 2022, when it sold just over 30 thousand tonnes of products.
Year-on-year marketplace sales increased by 87%, with an average of 5,655 tonnes of products sold on the corporate marketplace every month. Revenue including VAT from online sales exceeds RUB 3 billion so far this year. Around 87 thousand tonnes of goods have been sold online since the launch of MMK’s electronic trading platform (ETP).
MMK’s corporate marketplace currently has around 9 thousand registered customers. These include both legal entities and individuals, as the Company is focused on end customers in the B2B and B2C segments. MMK paid particular attention to user accounts when it was creating the marketplace, which began operating in 2021. When registering, customers can identify their status as either an individual or a legal entity. The separation of retail and wholesale sales and the availability of B2C user accounts set MMK’s marketplace apart from others on the market.
The marketplace enables customers to purchase products – be it a box of nails or large consignments – from MMK Group companies directly, without intermediaries, at wholesale prices and in a convenient format. Retail customers can pay by bank card, through the Faster Payments System or by account number. Legal entities also have the option of financing purchases using instruments offered by marketplace partners.
This year, the site was integrated with Gazprombank’s ETP and Finfactory, a financial platform. The Company is currently developing a mobile application, automating its buyer verification process and developing a full-featured auction module.
MMK plans to continue developing its platform by creating accounts for cooperative members, enabling the use of financial instruments and providing the necessary support, introducing new methods of payment, automating the calculation of delivery costs and putting a claims service in place.