MARKETSNAPP ▪ ‘the digital marketplace’ NABMA ANNUAL CONFERENCE 2016
Introduction QUICK FACTS There are c. 4,000 • Roi Mengelgrein is the founder of Marketsnapp markets around the UK with hundreds of Thank you – NAMBA & OBE Graham Wilson thousands of stall INTRODUCTION traders Quick market background – 17 years experience About £1 in every • £100 spent by UK Trying to develop software to get markets up-to-speed consumers is at a with e-commerce and to help traders sales while at their market stalls A large market will • Hopefully you’ll be able to take something out of this have half a million presentation visitors a week ie ‘potential sales’ Any question, please let me know
Meet the Team Roi Mengelgrein is the founder of Marketsnapp SETTING THE Background - ‘Stables’ Camden Market/ Tooting SCENE – Market & MTC Consultancy FOUNDERS CV Team - 8 people (Web Developers, Social Media, Lead Investor & Consultant, Partner @ Tooting Market) Lots of Media Attention – ‘ revolutionise market shopping’
Who’s on board? Over 300 initial trader registrations in the pre-launch period (FCA REGULATIONS - PayPal) Success in recruiting a diverse mix of the quirky, colourful micro-businesses & On going discussions with markets... Curation GENERAL RETAIL FOOD & DRINK JEWELLER “ Marketsnapp is awesome! I’m telling all my customers about ART DEALER it” APPAREL ACCESSORIES CYBER- SERVICES DOG ERIC BAUTISTA GAMES BOOM BAP BURGER HOME
So why should you GO DIGITAL? What’s happening around us.... Blockbuster, HMV, Amazon, Ebay, Poundland, Increase in online sales globally Sellers: Encourage young tech-savvy audiences “ Marketsnapp is great for us. National audience & free & easy-to-use It’s much more affordable than eBay and Amazon and makes Generate an extra while at your stall/shops us proud that we are supporting local businesses” Draw people back into your shops with ‘Click & Collect’ Shoppers: Supporting local business Great value products / bargain hunter Explore markets / local areas Stakeholders/Market Landlords/Local Authorities: KATIE HYAMS Potential for your traders to earn more income STRAWBERRY SUNDAE You’re essentially boosting your markets online profile SEIS qualifying with income tax breaks
6. Our product discovery processes maximises trade OPERATIONS > PRODUCT LISTINGS Browse by category or market Keyword & location-based search Shopper ratings Clear imagery & Map & pin shows where & reviews pricing information the items are being sold
7. Our product discovery processes maximises trade OPERATIONS > PRODUCT LISTINGS Title & Description Zoom In Feature Social Media Sharing & for Product Asking Questions
8. Our sellers profile helps discover the traders OPERATIONS > PRODUCT LISTINGS Sellers Profile Picture Seller’s Bio Shopper ratings Map & pin shows where & reviews the items are being sold
The Marketsnapp clear-cut business model Metric Value Average trader annual turnover through Marketsnapp: £5,000 Initial commission-free period 6 months from launch Standard Marketsnapp commission: 9.5% 9.5% “ Marketsnapp is a great idea. It Affiliate partner commission share: 4.5% 4.5% believe that this could really help us traders and other markets too” QUICK FACTS Expected growth in the trader base over the forthcoming three years 2,500 36% Uplift in Sales via Affiliates Direct 2,000 £10,000 pa 1,500 KIKI EVANS & LAURA WARD 1,000 UNWINED 500 0 2016/17 2017/18 2018/19
What are the next steps? QUICK FACTS Web Development & Social Media Target Audience is: • Finding the right developers Already a market- Enhancing your existing website goer + Females 15- 45 are most active in Social Media “I recently set up my this segment account on Marketsnapp. I found it so easy-to-use and Growth (Organic vs Marketing) user-friendly. I would There is lack of • Networking with companies like ourselves definitely recommend it to affordable all my trader friends” Investing in heavy marketing commercial spaces New Business (Streets Team) Infrastructure (Retainers vs Employment) Government/L.A. • Improving Shoppers Services agenda to support small businesses Funding SEIS Compliant VICTORIA CHRISTIE GRAVENEY GIN Investing capital via crowdfunding Check our campaign on Seedrs
Marketsnapp Conclusion THINKING AHEAD TEAM – getting the right team, retainers, staff, social media, developers GROWTH – organic v marketing We’re all investing. AVOIDING LARGER PLATFORMS- expensive to use, Are you? getting lost, hard to stand out HAPPY TRADERS – improving sales & footfall with ‘Click & Collect’ INVESTMENT – Capital v Crowdfunding (SEIS) QUESTIONS
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