WeMENA launches team buying for small businesses
WeMENA Teams is another innovation from the UAE-based online wholesale goods platform, which could not only help smaller business survive the pandemic but give them more purchasing power and increase margins. The new team buying concept means smaller enterprises will be able to join together via the platform to source and collectively buy bigger amounts of the products they need, taking full advantage of the economies of scale. The new feature comes when many smaller businesses are struggling due to the pandemic.
Pali Banwait, co-founder, says: “WeMENA is working around the clock to try and help SMEs to not just survive, but thrive. And we also know that this is a perfect time for smaller enterprises, operating in the same sector, to come together, combine their purchasing power and take full advantage of the convenience of online sourcing, purchasing and supply. We are helping to level the playing field so companies based in the UAE (and potentially beyond) can now enjoy similar purchasing power to that of much larger multinationals.”
He added that the team buying concept has been something that has been part of the original plan for the company and an important part of the business case to achieve its aims of helping smaller businesses grow better. The group buying concept has proven quite successful on several consumer focused e-commerce plays, especially in East Asia, but the WeMENA initiative is thought to be the first to apply it for an online B2B purchasing platform in the region.
The overall aim of the WeMENA platform is to make the B2B buying experience similar to that of a B2C platform which individuals are becoming more accustomed to. WeMENA believes many B2B buyers will start to expect a convenient purchasing experience similar to those offered by B2C e-commerce platforms.