Let’s spend some time focusing on digital marketplaces, not because that’s what Kemgo is, but, rather, because marketplaces are a solution that makes digitalization a little less overwhelming
Essentially, if digitalization is a path that you would like to go down, it can be very accessible through online marketplaces.
Some com panies are building a portal, setting up their own SEO, developing content to educate their customers, while others are simply signing up and searching for product or selling product through online marketplaces.
Would you believe that a large amount of chemicals and polymers are being traded on Alibaba?
They won’t share how much, but, if you do a search, there are certainly a large number of suppliers, some of which are verified and vetted. You can also see some trade being done in smaller quantities on eBay or Amazon.
Marketplaces specifically designed for petrochemicals have been in existence since the onset of the internet, but, didn’t fair too well, primarily because of the models used, and timing or adoption of technology in the industry at that time (not to mention the fact that they were being controlled by some of the bigger petrochemical com panies). But, for reasons mentioned previously in this blog series, we believe the time is now, and this is evident by looking at the sheer number of online petrochemical marketplaces that have been created over the past two years such as com ivo and Trademaya. You also have some regional players like Houston Mercantile Exchange and The Plastics Exchange and a few others that are playing a role. And, of course, not to mention Kemgo…