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Opportunity of a Market PLace with a integrated Delivery Ecosystem
•According to research based on data gathered from Statista, the Caribbean B2C e-commerce market is valued at US$5 billion annually and is growing at approximately 25% a year. Although this market is huge and growing, not all businesses can participate because of the complex nature of online payment integrations in the region, in other words; most businesses can’t accept integrated payments online.
•With the recent growth of First Atlantic Commerce and now WiPay Caribbean, e-commerce platforms now have an opportunity to increase online payments from 40% currently to 100%. The issue is the gateway payment platforms are still expensive for micro and small businesses. Ease of payment especially in the Jamaican market where standard debit card allows for online transactions.
•The last-mile delivery is also an issue for the growing number of online transactions. No efficient and effective delivery network. There has been an increase in the number of entrants in the courier business, but the efficiency levels are still not addressed. Consumers are still getting their packages delivered with delays or too costly.
Our Solution
•A marketplace that will offer an economical means of getting brick and mortar and social media sellers to join an online marketplace platform that is cost-effective and with the ability to accept payments much easier at a lower cost. In addition, this will be supported by a delivery network platform that will allow for last-mile deliveries to the customers.
•Integrated and Automated solution from payment online to delivery of products from each merchant
•Phase One is to build out the Jamaican network in Year One. Then phase two, work with 5 other leading Caribbean markets over the next three years. (Jamaica’s online sales is estimated at USD$195M USD per annum. We are looking to house 15% of those transactions – USD$29M USD p/a).
Interested to find out more and the role you could play as an investor? Contact us at info@summersdistribution.com.
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