MyCurrency can open a new avenue to B2B trade
Business to business commerce is an underrated type of trade but it is actually a profitable low-key source of revenue for businesses.
When you launch a business, obviously your intention is to profit from having a lot of consumers as customers. In their preoccupation with attracting consumers, most business owners overlook other businesses as potential customers.
In fact, a significant volume of B2B trade occurs every year. For example in bazaars/flea-markets, during their off peak hours, pop-up store owners tend to browse the items of other businesses, and often make purchases. The stall owners are themselves one of the biggest groups of customers.
During the lockdowns currently being imposed by governments, there are entire communities of families that are unable to leave their subdivisions. Many of these families have resorted to temporarily opening businesses catering to the subdivision residents to help support themselves. Many are only offering their products/services because of the demand that has emerged from within their community, as consumers have lost access to stores outside the subdivision.
This sudden emergence of a large number of small-business owners results in a lot of the transactions in locked down subdivisions becoming B2B.
And of course, the most common type of B2B trade is between wholesale suppliers and retailers, and constitutes much of trade that occurs in an economy.
MyCurrency trades can allow for two businesses to trade their own store currencies, and in doing so, guarantee that they both buy from each other.
Once you have transferred your store currency to another business in a currency swap, your counterpart’s options are to either to spend your store currency at your business or they trade it to someone who will. Either way, you have a guaranteed sale. Likewise, the currency you received will either be spent by you back at your counterpart’s business, or traded with someone else who will.
Another added benefit of swapping store currencies via MyCurrency is that, in the event that your counterpart trades away the store currency they receive from you, they are also indirectly advertising your business to whoever they end up transferring your currency to.
So MyCurrency makes barter-like trade between businesses better, by making it easier to conduct, and thereby can help businesses boost their B2B sales.
