Merchant Bay, an online platform to connect buyers with the sellers/exporters, was launched in Bangladesh recently.
Subsidiary of garment exporting company Sayem Group, the online platform besides helping connect global buyers/retailers with the exporters will also facilitate digital verification of work orders.
This platform would expedite the export procedure as audit and verification of brands/retailers and suppliers will be done digitally, underlined the Managing Director of Merchant Bay, Abrab Hossain Sayem, at the launch event while adding that over last 1 year, around 1,000 members have registered with Merchant Bay.
Merchant Bay would primarily charge a monthly fee of Taka 1,500 while also offering annual package of Taka 20,000, explained Abrab, adding medium, large, small and micro (all sizes of apparel units) can do business through this platform.
Attending the event, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Dr. Rubana Huq, reportedly, said that online market place was very important for the country as coronavirus pandemic has proved Bangladesh’s limited contact with global businesses while adding that apart from B2B platform and keeping in account the changed consumer behaviour subsequent to the outbreak of the COVID-19 pandemic, the country’s apparel manufacturing sector also needs a business-to-consumer online platform.