Today’s savvy shoppers and connoisseurs of bargain-priced products may have a plethora of options to choose from when it comes to purchasing power, but few consider the heavy labor and labor required to require low prices and a large selection of products.
While services like Amazon and eBay promise the best prices and the fastest possible delivery, an unresolved problem exists, how do you approach the sellers in order to obtain the best possible products at the best possible prices? “It’s almost impossible” says Terry McGinnis of the British Online shop.
“In order to have the best and the most products at the best prices, you have to put all the sellers against each other in the hope that this competition will lower the prices and increase the margins of the marketplaces but not of the sellers. .”
Full-fledged marketplaces have always pitted sellers against each other to get the best value for customers while charging exorbitant fees to achieve growth at all costs. The online store, as a marketplace platform, attempted to address the issue and provide a more ethical approach to online shopping. From humble roots, the company has experienced impactful growth in the UK in the past few months alone.
“We started with something very special, a way for anyone to quickly launch their own store, then we expanded that idea into a marketplace forum rather than a colosseum, we thought about it a lot and we came to the conclusion that bringing traffic to small businesses and freelancers like hobbyists was a great way for them to make more sales, we invested everything in organic growth and tools, but even with our ethical approach, we We’ve had to reduce the offering market because we’ve seen too many big companies trying to undermine small independents, and that’s not who we are,” Terry continued.
Terry McGinnis, who was born in Lithuania but spent most of his youth in Malibu, has seen technologies emerge and the concept of “wifi money” introduced, as young technologists and entrepreneurs use their digital skills to create and solve the technical problems of many.
“There’s no better place to be surrounded by innovation than California, everyone wants to create and make something, and since I was a kid, I wanted to do just that – solve problems, no matter how complex. .” Terry continued.
Terry is one of Britain’s top tech entrepreneurs helping to shape the country’s future, from investing in old, reserved and conservative companies to a more enthusiastic and pioneering approach taken by American venture capitalists, whose vision of the future has helped shape the way the technology has been adopted across the world since the early 1980s, thanks in large part to tech giants such as Microsoft, Apple, AMD, Intel and Dell for n to name a few, which have defined a more enthusiastic approach to technology and its use in today’s modern society.
The online store was one of the first companies in Britain to adopt a ‘remote only’ approach, meaning young CEOs like Terry could attract talent from a wide range of individuals.
“I think COVID-19 has really accelerated the futuristic vision of a digital nomad. I saw that when we had few other businesses going when I lived in Japan for a while, with me and my business partner Joe [Joe Todd] having a start-up in San Jose while living on two different continents and having an international team at the same time,” Terry continued.
“We’re now in a time and a place where anyone can do anything, from anywhere. And that’s absolutely wonderful. We have people from the US, UK, from Lithuania, Ukraine, South Korea, Italy, Spain, Canada and even Germany working with us provides us with previously unseen talent pools and has helped accelerate our growth towards a unicorn, hopefully, and of course all of our talents are also enjoying the benefits of working remotely, which means less stress.” Terry continued to add.
This work ethic has provided the company with the tools to employ some of the best talent in the world, including one of Britain’s top-ranked engineers, Siraaj Ahmed as CTO and ex-influencer Michelle Byon as creative and marketing director. The talent doesn’t stop there, the company now boasts two of the world’s greatest entertainment executives, Ziad Barakat and Alan Zadeh who help some of the world’s top music and entertainment talent rise to infamy and stardom.
“I’m very excited to be part of history, to be part of something big, and to contribute my skills and expertise to help the company reach more young people and leave a resonant and beautiful legacy that all the world can be proud of. One of my main goals is to provide young people and students with the support they need to start, grow and accelerate their business, whether it’s a DIY store or of a new underground fashion brand just getting started and creative teams in a new era of retail and technology.” commented Michelle Byun.
The company is returning to its original plan of providing the tools for organic growth with the addition of Web 3.0 technologies and investing heavily in educating average consumers about the necessities of supporting small businesses and independent contractors rather than the steps.
“It’s a tough call, it’s ethics versus profit, we’ve never sought market dominance, it’s just happened here in Britain. But with the advent of everything happening to digital, we are seeing more and more small businesses closing their doors. , we sat down with our board [board of directors and trustees] for many nights to think about this return to our original idea, and we had to make the call, which we are in the process of implementing and making. It’s tough, numbers and forecasts on paper may be good for a marketplace model but ethically it’s bad for sellers. I see it in a very simple way, your mother, your father, your friend or even your cousin, it would be unpopular to claim that they are employed by a large conglomerate like Amazon, or Online Shop, or even eBay.. .statistically speaking, a country’s economy is built on small and medium-sized businesses, which employ and provide job security to the aforementioned, not massive or giant conglomerates that drive traffic to sellers and push them to undermine each other. Not that I put us next to Amazon or eBay, they outrank us by a big and strong margin. Most people don’t like to use such services for the same reason, but they have little or no choice, but if they had a choice, supporting a small business or a local business, isn’t it? it not? We’ve found that most people would and that’s why we’re going back to our original idea and completely opening up our tools, software, services and expertise to the world, to build a strong and resilient community we can be proud of. A collaborative effort that will help everyone and not just the few who can offer the best prices or the fastest delivery, where every product bought and sold goes from the right suppliers to the right people, supporting local economies. That’s what we strive to achieve and do, without exception.” Terry added.
The boundaries pushed by the online store team resonate with these technologists and engineers who embarked on the new digital age in the 1980s and 1990s, where freedom of thought, expression and passion combined to create beautiful things and services that many of us take for granted today, from firefox at Google, where passion came before business intent with CTO, Siraaj Ahmed comments “I’m really happy with our engineering team, everyone is passionate and ecstatic, it reminds me of the good old days before everything on The internet is commercialized to the point of no return, I think we’re doing a great job of getting back to our roots, of what made surfing and using the internet great and fun, that’s what we’re looking for to do, build a very strong community of passionate developers, marketers, designers, e-commerce gurus, business owners, hobbyists, etc… that will not be commercially directed, but open and useful for all.”
The company is responsible for bringing back community-led development and support, with the goal of providing open-source code where appropriate, to create a community of developers who are passionate about making e-commerce less proprietary and more open. It is also in talks with several notable Silicon Valley funds to provide significant funding to accelerate its growth in the US market after the pivot, with Britain a testing ground for customer and business acquisition. while leading the community aspect open to international from the start. .
The transition period has already begun with the migration of several notable international brands and independent sellers to the new offering which tout its “ease of use” and “flexibility”.