Excess2sell was founded in 2016, as solutions based online platform for helping liquidate the unsold inventories of the large B2B sector in the country. Today the company boasts of having become India’s biggest online marketplace for aging assets that have a reach of over 200,000 B2B businesses. It has a registered seller-buyer base of over 24,000 players and roughly transacts 10,000 deals across 11 verticals and in more than 340 product categories. With a clear focus on Excess Inventory Marketplace, excess2sell is poised to become a critical enabler contributing to the India Growth story.
Conceived and created by Checkers India Technology, excess2Sell is led by a team of experienced industry professionals in Business Management, Product Management & Alliances, Techno-Sales, Marketing, and Distribution & Retail. The management has ingeniously created India’s largest pure B2B online marketplace for aging assets. The online platform offers a solution to the perennial overstock issue while bringing the large unorganized segment under the organized B2B e-commerce space.
“Excess2sell has launched three years ago with the aim to provide solutions to vendors, distributors, and wholesalers for managing their aging inventories; and in helping them unblock the paid capital of the supply chain. With over 10,000 product categories listed on excess2Sell.com, the site records approximately 200 active deals and receives anywhere between 70 to 80 new registrations per day. Our new partner registration rate has grown by more than 100 percent Y-o-Y. Excess2sell’s ‘No Inventory’ focus keeps the business model ‘asset light’,” says Mr. Rajan Sharma, Founder & Chief Executive Officer, Excess2Sell.com.
Early Days:
The idea of Excess2Sell was conceived sometime at the end of the year 2015. The idea was to find ways and means to take action on inventory that remained unsold. Prior to founding the company, in his last professional stint, Mr. Sharma faced a force majeure situation with the product inventory at the distribution points which affected an entire location. The aging inventory of stockists led to blocked capital and slow turnaround time for sales. This was a problem that almost all stockists and wholesalers in the country faced and it presented an opportunity for developing a solution to remedy this issue. Excess2sell began exploring ways and means to overcome this situation across channels and was conceived as a solution to overcome this problem faced by the large Indian B2B player base.
Leadership Qualities:
Mr. Rajan Sharma is a BE Graduate from the Mumbai University and holds a PG DMM from JBIMS.
Prior to founding excess2sell, Rajan Sharma was associated with companies including Priya Ltd. / PEAC SINGAPORE where he worked closely with Intel, LG, WDD when the PC market was in a very nascent stage. He has spent a major part of his professional tenure with D-LINK and GIGABYTE (erstwhile JV with Smartlink Holdings), where he was responsible for the business unit that was into the manufacturing and marketing of desktop motherboards under the brand – GIGABYTE and then later, under the captive brand – DIGILITE. This exposure helped Mr. Sharma gain extensive operational and commercial insights while working with major foreign MNCs like – PEGATRON and FOXCONN other than working for local OEMs like – HCL, WIPRO, ACER, and ZENITH, among others.
The Revolution:
At the time when excess2sell was formed, the segment was very fragmented and was largely catered to by the unorganized segment. Through the unorganized approach, the reach remained limited as deals occurred one-on-one with the sellers or buyers. As of today, specific to ‘excess inventory liquidation’, there is no other universal platform like excess2Sell.com in the country. The platform help brands, manufacturers, vendors, distributors, wholesalers, and dealers in liquidating their aging or excess or unsold inventory through our online e-commerce portal. Today, excess2sell.com is a one-stop platform for vendors, manufacturers, dealers, wholesalers, and distributors for offering their unsold – overstock, excess, aging inventory to buyers across various verticals. One of the biggest advantages which excess2Sell.com offers to both sellers and buyers is that they can transact Confidentially, Anonymously and Neutrally.
The Indian excess inventory market is estimated at the US $30 Billion across verticals and is an area of opportunity that remains underexplored. Overstock is a perennial problem affecting all industries, across sectors. A platform like excess2sell.com has opened up the possibility of not only allowing sellers who need to make decisions on unburdening their aging inventory, to free up the locked up capital but also organize the market. Over the last three years, the company has mobilized over $15 million worth of excess inventory and is aiming at bringing at least 90 percent of the total market aboard its online platform. Within the first year of operations, excess2sell mobilized over $2.3 million worth of excess inventory through the online platform. Since then the transactions have grown roughly 400 percent annually. The company recently introduced its mobile app which is expected to complement the growth.
Excess2sell’s journey:
Over the last decade, while e-tailing in India grew rapidly to become a $525 billion industry, the supplemental B2B e-commerce market failed to realize its full potential. Many B2B companies have begun building their own platforms to tap into this relatively less explored market that is expected to reach $700 billion by 2020. Within the B2B e-commerce space is a void that needed an urgent solution to address the unsold inventory issues faced by the 50 million strong B2B businesses that supply goods to the 14 million retailer base in the country. Excess2Sell.com’s entry successfully bridges the current gap to offer a solution to this perennial overstock issue while bringing the large unorganized segment under the organized B2B e-commerce space. With a registered partners base of over 24,000 pure B2B players, the company has a lead in the sector that connects close to 200,000 businesses through its online and app channels.
Excess2Sell.com has grown at 60 percent CAGR since its inception and has mobilized over $15 million worth of excess inventory. The bulk of transactions on the company’s online portal are generated by goods falling under telecom & mobility, computers and, electronic & appliances. Besides these, the company also helps liquidate other products that include lifestyle and accessories, footwear and apparels, home furnishings and edible & non-perishable items, among others.
Achievements:
Within a short span of three years, excess2sell has been recognized as India’s leading premier B2B platform focused on liquidating unsold inventories. It has been part of NASSCOM 10000, Uber Pitch top 100 NUMA France Finalist, and Start-up Challenge top 14.
Future:
Excess2sell is presently consolidating its buyer & seller ecosystem across the country and is poised to grow even more rapidly in the coming year. Apart from the established product categories on the platform, the company is focusing on promoting the newly added verticals which include apparels, electric goods, home appliances, LED lightings, accessories and other luxury items. The company is investing in building its Human Resources infrastructure to meet the growth challenge. This includes creating talent pools in various cities across the country with a focus on bringing on board the best technology talent. The company has chalked out a clear roadmap clear in terms of new features; supply chain integration and real-time buyer and seller connect, among others. Excess2sell is confident of clocking the US $50 million in sales revenue in FY20 to maintain its leadership position as the first choice for unsold, overstock, excess inventory liquidation.