Its virtual marketplace boasts over 1,000 items, from fresh produce and baked goods to condiments and...
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Its virtual marketplace boasts over 1,000 items, from fresh produce and baked goods to condiments and frozen goods categorised according to dietary requirements, which includes, among others, vegan, halal, keto and gluten-free diets. CEO and co-founder Teh Yong Lin explains how the idea behind Kraave came about. "My mother makes amazing pumpkin jam, which our relatives and neighbours love," he tells FMT. "Since money has always been tight, I suggested she start selling her jam to make some additional income. I tried to help her with sales but found it was hard to grow the business." The e-commerce site was thus created in 2017 to make it easier for people like Teh's mother to run a business from their kitchens, and, at the same time, connect them to consumers who want to support homemade products. Kravve offers more than 1,000 food items, this ginger garlic sauce among them. "Before this, when people want to start a food business, they think about opening a stall. Now they no longer have to," says the 28-year-old. According to Teh, it won't take more than 10 minutes for small business owners to set up an e-store on the platform, "even if they're not computer-savvy". "It's completely free for everyone," he says, adding that 100% of the profits goes back to the sellers, who receive a unique link that can be shared with potential customers. Sellers can also opt to sell through the Kravve Marketplace, which charges a 15% commission for every sale but provides marketing services as well as ways maximise production and the efficiency of the home business. When it comes to deliveries, Kravve works closely with several logistics partners to ensure orders arrive expediently and in good condition. Frozen foods can even be delivered to East Malaysia. Bestselling vegan food items include these Indian-spiced patties. The pandemic has caused sales on the platform to skyrocket. "Many people who lost their jobs have started food businesses from their homes, so there is a lot of supply of homemade food products," Teh explains. "At the same time, demand has also increased, especially with the 'kita jaga kita' and 'buy Malaysian products' campaigns." In spite of this, some people still don't know where to find local goods and end up going to grocery stores and supermarkets. "This is where we come in," Teh says, citing a memorable moment during the first lockdown last year: "We helped a hawker in Taman Tun sell 5,000 rice dumplings in just 10 days." Halal food items such as these meat products are also available. Kravve also helps connect home businesses with the corporate sector in Malaysia and Singapore. "More and more companies want to support local businesses it's now part of their brand value. "During festivals, these corporations usually buy gifts and hampers for their clients and partners. Kravve helps connect them with local sellers so their gifts become a little more meaningful." On that note, Kravve is currently taking orders for their mooncake gift boxes in conjunction with the Mid-Autumn Festival next month. Besides supporting the local economy, Teh says consumers benefit from purchasing homemade products as they are free from preservatives and additives. "You basically eat the same food that the sellers make for their own children and family," he says. 1. How could Kravve use social networking analysis to help organizations function more efficiently? Its virtual marketplace boasts over 1,000 items, from fresh produce and baked goods to condiments and frozen goods categorised according to dietary requirements, which includes, among others, vegan, halal, keto and gluten-free diets. CEO and co-founder Teh Yong Lin explains how the idea behind Kraave came about. "My mother makes amazing pumpkin jam, which our relatives and neighbours love," he tells FMT. "Since money has always been tight, I suggested she start selling her jam to make some additional income. I tried to help her with sales but found it was hard to grow the business." The e-commerce site was thus created in 2017 to make it easier for people like Teh's mother to run a business from their kitchens, and, at the same time, connect them to consumers who want to support homemade products. Kravve offers more than 1,000 food items, this ginger garlic sauce among them. "Before this, when people want to start a food business, they think about opening a stall. Now they no longer have to," says the 28-year-old. According to Teh, it won't take more than 10 minutes for small business owners to set up an e-store on the platform, "even if they're not computer-savvy". "It's completely free for everyone," he says, adding that 100% of the profits goes back to the sellers, who receive a unique link that can be shared with potential customers. Sellers can also opt to sell through the Kravve Marketplace, which charges a 15% commission for every sale but provides marketing services as well as ways maximise production and the efficiency of the home business. When it comes to deliveries, Kravve works closely with several logistics partners to ensure orders arrive expediently and in good condition. Frozen foods can even be delivered to East Malaysia. Bestselling vegan food items include these Indian-spiced patties. The pandemic has caused sales on the platform to skyrocket. "Many people who lost their jobs have started food businesses from their homes, so there is a lot of supply of homemade food products," Teh explains. "At the same time, demand has also increased, especially with the 'kita jaga kita' and 'buy Malaysian products' campaigns." In spite of this, some people still don't know where to find local goods and end up going to grocery stores and supermarkets. "This is where we come in," Teh says, citing a memorable moment during the first lockdown last year: "We helped a hawker in Taman Tun sell 5,000 rice dumplings in just 10 days." Halal food items such as these meat products are also available. Kravve also helps connect home businesses with the corporate sector in Malaysia and Singapore. "More and more companies want to support local businesses it's now part of their brand value. "During festivals, these corporations usually buy gifts and hampers for their clients and partners. Kravve helps connect them with local sellers so their gifts become a little more meaningful." On that note, Kravve is currently taking orders for their mooncake gift boxes in conjunction with the Mid-Autumn Festival next month. Besides supporting the local economy, Teh says consumers benefit from purchasing homemade products as they are free from preservatives and additives. "You basically eat the same food that the sellers make for their own children and family," he says. 1. How could Kravve use social networking analysis to help organizations function more efficiently?
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Cost Management A Strategic Emphasis
ISBN: 978-1259917028
8th edition
Authors: Edward Blocher, David F. Stout, Paul Juras, Steven Smith
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