In Part 1 and part 2 of this blog series, Joost Brugmans, our CEO and co-founder, spoke about our founding story, the vision & mission, and the first milestones of Orderchamp. Today we announce something new, which throws independent retail another bone to thrive in a competitive playing field: “pay after delivery” up to 60 days after purchase.
Exactly one year after the launch of our digital wholesale marketplace and a turbulent, but above all motivating period, we are excited to launch something new. With our vision to provide unique merchandise for every store, we add an important pillar to our proposition, creating even more value for both brands and retailers alike. After a successful pilot, I am proud to announce that as of today, qualified retailers can sign up for a spending limit with a payment term of 14 to 60 days.
In our mission to offer small and medium-sized retailers more tools and reimagine wholesale, qualified retailers can now pay after arrival on our marketplace - also from multiple brands in one checkout. This payment method applies to orders placed through the platform, where Orderchamp guarantees the payment to the brands. In doing so, we temporarily give our retailers extra liquidity - without the financial hassle.
Why we do this? There are many small and medium-sized entrepreneurs in our target market. These entrepreneurs often have to make choices to secure their cash flow, for example when they want to innovate their store, order additional stock or select and test new collections. Due to their temporary lack of liquidity, they are unable to fully carry out these activities. As a result, they do not achieve the ultimate shopping experience and distinctive assortment for their customers. We have already brought the order minimums of our brands to one of the lowest in the market, which made ordering more accessible to retailers, but it remains B2B and wholesale. With a slightly larger volume, retailers receive a larger discount from a brand, boosting their margins. We therefore encourage our brands to set quantity discounts per product or even a brand discount above a certain threshold. A win-win for both parties.
“Orderchamp has a fantastic range. I am very happy with the flexible payment term, which is applied across all member brands. This way I can purchase more products and test new collections without directly affecting my cash flow at the start of the purchasing season ”Natali Salvaggio from Gekaapt from Amsterdam
This proposition gives retailers some extra firepower in their way to the perfectly curated store, with a better business model. While this was previously only reserved for big-box retailers and chains, we offer this to smaller retailers. Due to the extra liquidity and cash-flow, these retailers will now be able to pilot products within our platform and put together a diverse catalog. They are also given the opportunity to sell the products within the payment term, so that they can invest their budgets into other innovative solutions that enhance the shopping experience for their consumers.
This is also beneficial to our brands; they receive fast and guaranteed payouts, we take over the administration of the payment terms and it saves time on keeping track of payments. On top of that, they receive an extra stimulus in sales and there is no debtor risk for them. Because we also offer this option to their existing retailers, on which they do not pay any commissions, we get more cross-pollination on the platform, which again facilitates a win-win. Our brands can innovate with the extra liquidity and add new collections faster, without having to worry about any outstanding payments.
“This is a fantastic proposition for us as a brand. In addition to the fact that orderchamp takes over the payment process, we can fully concentrate on optimizing the ordering process and thus increase customer satisfaction. ”Jantine Budding from the brand Fiskars
Will any retailer automatically qualify for this? It is intended for our active retailers and we will verify our incoming requests. The offered limit and payment terms can differ based on the previous order history, stock turnover rate, credit history, store location or the quality of the webshop. More information can be found on our specially designed support page or by contacting one of our representatives.
We wish all retailers and brands a fantastic start to the traditional purchasing season. Orderchamp's assortment is now nearly 1000 brands strong with more than 75,000 unique products. Happy shopping!