© 2016 D. Vega / R. Men
Most people, if you were to ask them, would say that e-commerce is an incredibly difficult industry to break into. After all, the major players in the sector—eBay, Amazon, Alibaba, and Walmart—are massive companies with gobs of market share.
The truth is that there is more opportunity online than people might think. While each of the four big online retailers above has their distinct business models, they make a living by, essentially, selling a little bit of everything. From TV’s to automobiles, you can buy it on eBay, Amazon, or Jd.com (in China). This lack of specificity in operations is where the relatively new economic theory of the long-tail comes into play.
The long tail states that, as the number of overall products and buyers in our worldwide economy increases, the number of products and buyers that aren’t at the “head” of the distribution curve (where the most popular of all products and purchases live, think toilet paper, bread, and smartphones) increases along with it, opening up business opportunities in niche markets.
More discerning buyers, who are shopping in a very narrow bandwidth of products, will seek out retailers that specialize in a certain products. While the regular joe may be satisfied with picking up a $7 bottle of wine at Walmart, the dedicated wine collector will head to a dedicated wine retailer or auction site like WineBid or CellarBid to pick up that rare vintage that they are searching for.
There is a never ending list of e-commerce businesses that have launched thanks a to a specific niche or idea that has proven to resonate with customers. One of the companies that has made this proliferation of online entrepreneurship possible is Merkeleon, a software engineering company headquartered in Austria
that builds online trade platforms for businesses.
Merkeleon provides the software that forms the backbone of a number of e-commerce business models, and allows entrepreneurs to skip the extremely costly process of developing an online sales platform so that they can get right to work. The company’s three main products are its Online Trading Platform, Online Auction Platform, and its Cryptocurrency Exchange Platform. All three are designed to solve the common problems that e-business entrepreneurs face before they ever arise. For one example, Merkeleon’s platforms include software to deal with currency exchanges for international transactions right out of the box.
With international sales and marketing located in Austria, and Software Development operations centered in Minsk, Belarus, Merkeleon is an international company with partners all over Europe. Its clients include large global companies like Western Union and many start-up sites with different supported formats such as penny auctions, reveal auctions, reverse auctions (in which contractors can bid to take on work) and online storefronts. Merkeleon’s affordable solutions allow entrepreneurs of any size or capital expenditure plans to easily get their businesses running and profitable quickly.
Merkeleon, as both an innovative software engineering company and an international marketer of its e-commerce platforms, utilizes a quality management tool known as Key Performance Indicators (KPI’s) in order to keep the different divisions of the organization on task and on point. KPI’s utilize one key metric to focus improvement on, with knowledge that the metric in question has a profound effect on the organization as a whole. This means that the marketing department could focus on improving ROI of advertising spending while the software team could focus on reducing the number of reported crashes, for example, directing each division of the company towards improvement in the areas that truly matter for overall quality.
ABOUT BID AND THE CENTURY INTERNATIONAL QUALITY ERA AWARD:
BID is a private and independent organization founded in 1984, whose primary activity is business communication orientated towards quality, excellence and innovation in management. A leader in the broadcasting of Quality Culture, BID recognizes those companies and organizations which lead the most important activities in the business world, and is considered the founding organization in the broadcasting of the Culture of Quality, Excellence and Innovation in 179 countries. The trophy symbolizes a pledge to the principles of Quality Culture. The QC100 Total Quality Management Model, together with the Quality Mix program, media coverage of the convention and its impact on the community and business sector, create an unmatched platform for continuous improvement within the organization and awareness of the achievements of the company at an international level. Awards are given only to those who are committed to improving their Quality Culture based on the principles of the QC100 Total Quality Management Model. Candidates are proposed by the leaders of previously awarded companies who they consider worthy of the award. Especially meritorious candidates may also be nominated. The International BID Quality Award Selection Committee then chooses the winning companies who will receive the award in New York, Paris, Geneva, Frankfurt, Madrid and London.