A Top Selling Building Material in the E-Commerce Marketplace
Steel – A Top Selling Building Material in the E-Commerce Marketplace
Market places are increasingly going digital, and the building material industry, including the steel market, is not an exception. Construction-steel manufacturers and makers of construction material can only become relevant and competitive, once they make their presence felt in the online market place.
e-commerce is a selling strategy that steel sellers must adopt, for selling to a vast multitude of consumers who are looking for building material solutions online. It is essential for startups in this space to establish an online presence so that their business can succeed in today’s digital-driven economy.
In both B2C and B2B markets, e-commerce is now everyone’s expectation. It is best for steel sellers to stop viewing the online steel market as competition and think about how they can increase market share, grow relationships, create new sales opportunities, and grow demand for their building material via the online construction-steel market. Building material makers who do not realise this and do not come to terms with this new reality will get left behind.
Customers of construction grade steel are flocking at the online e-commerce space because it is easy to use, provides solutions for their entire customer base and offers the best products from multiple sellers. They can view multiple offers, watch product demo videos, select only what they need and add building material products directly to their cart — all from a single e-commerce website, at the mere click of a mouse.
Leading building material products
Construction steel,cement, concrete, construction chemicals and construction equipment are some of the products that are the most sought-after by the building/ construction industry. These are the core products that form the backbone of the construction industry. Construction steel is perhaps the most critical among these.
As per IBEF, the demand for steel is expected to increase by as much as 17%, driven by the upsurge in construction activities across India. As per Ministry of Steel, the building industry consumes more than 12% of steel produced in India. This number is likely to triple over the next 10 years, taking sector’s steel consumption to 120 Mn MT (10x growth).
The requirements for construction steel are currently supplied by a fragmented manufacturer-middleman-seller base that is mostly determined by geographic location. Startups in the online steel e-commerce marketplace can aggregate demand and forge partnerships with manufacturers and extended economies of scale benefits to their customers.
Benefits of online steel strategy for startups
The online platform offers several benefits for sellers and manufacturers of steel
- The online steel market seamlessly connects various stakeholders involved in the steel supply chain
- It provides a platform for multiple brands and grades of steel, sourced from vendors across the country.
- It offers steel at real-time market prices, in addition to several value-added services and offers
- Sellers and buyers can trade in TMT Bars, MS Rounds, Binding wire, fabrication steel, light structural steel and heavy structural steel
- Platforms like Steeloncall have around 350 registered steel vendors offering top quality steel for construction
- Steel is sourced from the manufacturer and the supply chain network ensures that it is delivered without any hassles, at the buyer’s location, by the stipulated date
- Competitive prices, quality as per specification and timely supply of steel leads to lower project cost and faster completion of the construction project
- Nationally trusted online ecommerce platforms that sell construction grade steel always verify their suppliers and offer a quality certificate for the products that they sell online
Types of steel available online
Depending on their applications, different types of steel products are available on online ecommerce platforms. These include structural steel, steel plates, galvanized sheets, steel wire rope, hot-rolled steel, cold-rolled steel and more