Case Study – 24×7 Mercantile House Pvt. Ltd
The emerging e-commerce industry allows online buyers to compare various products along with the prices, eliminating the travel time. Cross-border e-commerce is not only beneficial for the buyers, but the sellers are reaping good fruit out of it as well.
The sellers can directly sell their product to their valuable customers via various marketplaces like Amazon, eBay, Wadi, Flipkart and lots more. This, in-turn, cuts down the middle-men.
However, there are few challenges in relation to Cross Border Trade (CBT), ranging from logistics to payment. Although, there are feasible solutions to these challenges that have further pumped up online buying. It all comes down to ensuring a good customer experience.
Not a lot of entrepreneurs can transform their hobby into a profession. One such lucky individual is Naveen Pamnani, Director, 24×7 Mercantile House Private Limited, whose hobby of restoring vintage bikes tuned into a burgeoning business. Having started as a Marketing Executive firm WWI, he went on to become the Director of Sales and Marketing at Cordial Merchandising India (CMI). He traveled all over India training more than 3000 marketing executives.
Pamnani’s interest in restoring vintage vehicles began in his early teenage years when he was in class IX. He restored an old Vespa, and ever since then, he developed a knack of restoring vintage vehicles. By the time he was in college, he had restored a vintage Fiat! Realizing that the internet could be his gateway to reach the global buyers in search of vintage parts, he decided to clout his interest and knowledge in the field into a viable business proposition.
However, the idea of selling spare parts for vintage automobiles seemed a little too absurd to the business veterans, he also contacted several other manufacturers to help him develop his business plan but no one seemed interested. Yet, he was fully convinced that his idea would work and so he went on to list out his products on eBay and the results were overwhelming.
Experience with PayPal
While sharing his experience with PayPal, he mentioned that “A 70 year old man called from Florida for enquiring about vintage spare parts for his bike and was over the phone listing out parts he required to restore the bike. When the sales executive told him that he will send an email with the list of the auto parts, he smiled and told that he does not know how to use a computer. The sales executive took the order and informed him that the parts would be shipped within 3 working days, but he will have to pay the invoice before the parts were shipped. The gentleman said, “Send me the PayPal invoice and I’ll pay immediately.” This shows that a person who doesn’t know how to use a computer still trust PayPal.
He wishes to share, inspire, and educate other entrepreneurs and export houses who want to enter the ecommerce world.
Just like Naveen Pamnani, Vdezi has enabled a lot of Merchants live their dream of selling Internationally and enjoy the benefits of the International Market.
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