The future of metals trading is digital!
A recent study by Google found that within the last 2 years the share of “digital natives” involved in a B2B buying transaction has doubled! It is now over 50%. Digital natives are between 18 and 35 years old, are used to do their private shopping online and expect the same in B2B commerce.
We call this the „consumerization of B2B trade“. 94 % of these digital natives conduct internet research during the purchase process and 74% do this even before the first contact with a sales manager.
Metalshub's first quarter live
Metalshub looks back at its first quarter “live”. We have summarized some facts and figures.
In total, 171 users have registered for Metalshub. In addition to that, Metalshub has more than 700 followers on LinkedIn. Not bad for the first quarter! Figure 1 shows a breakdown of Metalshub users by category.
Until March 2018, our users have created 78 listings. The most popular categories with the most listings were titanium (17), manganese (14), molybdenum (11) and nickel (10). Figure 2 shows the number of listings by product category.
New Metalshub features and roadmap
In the meantime, our product development team is working hard to improve the user experience and add new features. Thank you all for the constructive feedback. Recently we added the following features:
- Pound sterling (GBP) can be selected as a new currency for the price
- New payment terms, e.g. cash against conditional release can be selected
- Buyers can add their individual “purchase order number” to the contract
- Sellers can add their individual “sales confirmation number” to the contract
- Users can invite parties outside Metalshub to see their listing
The next big product milestone: transaction credit insurance. We are going live next week! Moreover, the team is working on a relaunch of the negotiation screen to improve the user experience.
Thank you for your support to get Metalshub off the ground. The future of metals trading is digital. As Trafigura veteran Maha Daoudi stated in an interview with Human Capital: “To put things into perspective, the commodities trading industry is still very much behind in terms of technological development. I think that our industry will need to join the technology game.”