Cross-border commerce is cumbersome. Rob explains why, and how he is addressing the issues.
Sramana Mitra: Let’s start by introducing our audience to Flow Commerce and to yourself.
Rob Keve: I am the Co-Founder and CEO of Flow Commerce here in Hoboken, New Jersey. Flow Commerce is a turnkey solution to help any online merchant sell beyond their domestic market.
>>>Sramana Mitra: Can you give me a sense of how much people are paying for things like that? What’s an average deal size? What ballpark is the pricing?
Barry Adika: A company like Adidas has 77 people that’s doing price monitoring every day. They have two lawyers on staff. With our software, they can have two lawyers and another three or four people.
>>>Barry Adika: Amazon decided to freeze some accounts that don’t have proper documentation. For these sellers, to photoshop an invoice is not a big deal. There’s no enforcement on Amazon’s side. That’s why they have six million members currently.
Long story short, those guys got smarter. Let’s say you have a big Amazon account. It’s millions of dollars in inventory and millions of dollars in pending payments.
>>>Barry Adika: The second algorithm we built was for counterfeit detection based on image recognition. We teach the AI what to look for. There is such diverse information that we teach this AI to look for and bring us results.
On some occasions, because search is built by many elements like price, quantity, and reviews, we need to know how to sort this data to get to where you want to be.
>>>Barry Adika: We didn’t just look for seller information on Amazon. We looked for counterfeit products, quantities that people post online that can raise a red flag for brands.
>>>Brand fraud is rampant in e-commerce. Barry discusses brand protection.
Sramana Mitra: Let’s start by introducing our audience to yourself and to Brandefender.
Barry Adika: I’m the Co-Founder of Brandefender. We focus on brand protection in general. We are experts in cyber security. I used to be in retail and wholesale. I’ve been engaging with the big shift that’s happening in retail over the last few years.
>>>Sramana Mitra: What is the business model for you? Are you on a marketplace commission business model?
Talha Sattar: We have a few different revenue streams. One is, we charge service fees or convenience fees. The average consumer might pay somewhere between $2 and $5 per transaction. That’s one revenue model we have.
>>>Talha talks about trends and opportunities in pharmacy e-commerce.
Sramana Mitra: Let’s start by introducing our audience to yourself as well as to NimbleRx.
Talha Sattar: I’m from Pakistan. I’ve been in the US for 10 years. I run a company called NimbleRx. Our company enables online commerce and delivery for pharmacies around the country.
>>>