Interview with Luis Carbajo, CEO of SoloStocks.com

Luis CarbajoCEO SoloStocks.com, tells us about the possibilities that eCommerce has for B2B companies and about the internationalization possibilities that small and medium-sized companies have in the current scenario.

Luis Carbajo has been CEO of SoloStocks.com since mid-2012. Previously, he worked as Head of Online Marketing for Europe at Vistaprint, the world leader in the online sale of printing products for SMEs (2010). Prior to this position, Carbajo assumed different management responsibilities within the Operations, Finance and User Experience departments of Amazon.com in the US, a company where he worked for almost six years and where he became the head of the department of User Experience worldwide.

Actualidad eCommerce: For those who still do not know it, are thinking of jumping to the online market and / or are considering the possibility of internationalizing their business, how does SoloStocks.com work?

Luis Carbajo: SoloStocks.com offers a reliable online buying and selling channel for companies and professionals. We are leaders in Spain in the B2B (Business to Business) segment and we have a strong international presence, mainly in Europe and Latin America. We have almost 2 million items, from more than 50.000 trusted suppliers globally, that guarantee the security of transactions. Thus, we provide SMEs and freelancers with everything they need to acquire for their business, while offering them an efficient and secure sales and promotion channel to market their products on the Internet, both to individuals and to other companies.

In addition, thanks to our international presence and collaborations with ICEX Spain, companies can sell their products abroad in an easy and safe way, without the need for any additional infrastructure and ensuring that their products are visible to a much larger audience than they can be achieved by other means (SoloStocks.com receives more than 3,5 million visits per month globally, 2,5 in Spain).

AE: Since its founding in 2000, SoloStocks.com has seen tremendous growth. What are the factors that have most influenced this growth? What are the forecasts for the near future?

LC: The experience acquired during these 15 years and the constant investment in new technologies and functionalities to improve the user experience have been the factors that have most influenced our growth.

Our goal is to consolidate our leadership in Spain, to continue growing in all the markets in which we operate (Brazil, Mexico, Argentina, Colombia, Chile, France, Germany, Portugal, Italy, Poland and Morocco) and to constantly improve the customer experience so that you are totally satisfied at SoloStocks.com.

AE: You came to SoloStocks.com in 2012. What changes has the platform undergone since then? What other news or improvements do you plan to implement?

LC: With the change of direction, the portal underwent a change in strategy, going from a B2B directory model with a very important part of the income that came from advertising, to an online store or ecommerce model. Since then, not only has invasive advertising for the user been reduced, but a 100% secure shopping platform has been implemented that provides sales for supplier companies and much greater satisfaction for buyers.

In addition, we have adapted the portal and all our communications to the growing traffic from mobiles and tablets. As a result, we have a website designed under adaptive design criteria (Responsive Web Design), which allows all functionalities to be optimal when accessing SoloStocks.com from any type of device. On the other hand, this year we have worked to improve the presence of supplier companies within SoloStocks.com, giving them the option of having a complete and personalized website within our platform.

And, looking to the future, we have many challenges, such as continuing to help Spanish companies export abroad and improve the techniques to offer our buyers proposals according to their preferences and interests.

AE: What are, in your opinion, the factors that have made SoloStocks.com a leader and a reference in online sales in the wholesale market?

LC: As I said before, the support of 15 years of experience in continuous development has boosted our growth and positioning, both in content and audience and in market knowledge.

In addition, it is important to note that for a long time we were the only portal truly specialized in B2B, which allowed us to differentiate ourselves greatly from possible competitors with strategies aimed at the end consumer, as well as from other international competitors who do not have the deep knowledge of the Spanish market that we have.

In addition, thanks to the work of the entire team, especially the technical areas, product positioning and development and e-commerce consulting, we can offer a safe and quality service. Our main objective is to guarantee the security of the transactions. We work as mediators between buyers and sellers, we verify that the suppliers are trustworthy and we investigate any type of anomaly, factors that differentiate us from the competition.

AE: The study Trends in B2B Online Commerce in Spain shows that the self-employed in the B2B sector are much more active than Limited Companies, and the growth of their online activity has been greater. What is the reason for this, in your opinion?

LC: Small companies and specifically those formed by the self-employed and entrepreneurs have less notoriety and resources compared to the large corporations that dominate the market. For this reason, more and more freelancers are turning to marketplaces like ours to reach an audience that they would not reach by themselves, and thus be able to offer their clients advanced technology without the need to make large investments. SoloStocks.com has helped many companies to sell for the first time on the Internet and even to explore markets in other countries.

It should be noted that the self-employed and entrepreneurs are a fundamental part of the Spanish business fabric; They are the main engine of the economy in Spain, and it is estimated that they represent up to 95% of active companies today. Therefore, the rise of this type of company on our portal, leading the ranking of companies that most offer their products on the Internet, only confirms this trend.

AE: According to the study, Spanish exports have increased by 21%, being the main destination of the same Latin America. What is the key to this increase?

LC: Latin America is a market with a very close relationship with Spain and that provides many synergies for exports, both in terms of language and culture and because of the developed structure they have for trade with Spain.

In addition, this year the value of the euro against the US dollar has fallen considerably, which has benefited European exports in countries that either have this currency, or tend to import products and / or services from countries with US dollars. . Prices for European products are now more competitive than ever.

AE:  The most exported products have been, according to the study, those in the categories of machinery and equipment, fashion, food, construction, and home and garden. What do you think is the reason for the success of these products?

LC:  Companies in these more traditional sectors have lost their fear of opening new business channels. The Internet has proven to be as or more effective a source of business contacts than the usual sales channels.

Compared to companies from other countries, for example China, which are betting heavily on entering Spain, Spanish companies are reacting quickly and positioning themselves in electronic markets like ours. We have numerous success stories that confirm this trend.

AE: Interestingly, the products most demanded by users do not correspond to the best-selling categories. Why do you think that technology products related to mobile phones, tablets and accessories, wedding gifts, or electronic cigarettes are products in such demand in the wholesale sector?

LC: According to our data, the most popular sectors of activity among Spanish companies that decide to sell their products and services on the Internet are machinery and equipment, fashion, food, construction, and home and garden (that is, most of the companies that decide sell your products on the Internet are part of these categories). On the other hand, technology –mobiles, tablets and related accessories, such as screens–, wedding gifts, or electronic cigarettes, among others, are some of the products most demanded by users. We talk about supply and demand.

The most demanded products usually coincide with the sectors that have the most sales, although not in all cases. Sometimes a product becomes fashionable so quickly that it is hard to keep up with demand. The most recent example is Apple's new Apple Watch: it has created a demand among users that neither Apple nor the rest of the smartwatch manufacturers - who have seen their sales increase due to the call effect - have been able to satisfy. However, it is a temporary and brief situation until companies pick up the pace. In our study, with the case of electronic cigarettes, an initial boom that lasted a year and a half is observed and which is now a standard in the catalog of any wholesaler.

AE: Could you offer us some practical advice for all those wholesalers, manufacturers and producers who have not yet made the leap to e-commerce? Could you offer us your personal vision on the opportunity that eCommerce offers for them?

LC: The most important advice I would give them is that in order to win over the public that buys on the Internet, establishing a relationship of trust is key. One of the brakes of ecommerce is the lack of security and trust, the fact of not knowing the seller personally and not being able to touch the product before buying it. This creates a certain suspicion on the part of the buyer, which is accentuated if we take into account the cases of scams that arise through the network. Therefore, the company that wants to sell online must do everything possible to create a good reputation. Including references from your clients, awards or badges obtained during their career or offering customer support with the most personalized treatment possible by phone or email can help in this process.

A company that is selling its products in a marketplace such as SoloStocks.com must be transparent, attend to your orders and inquiries on time and offer a pleasant treatment, since most of the electronic markets we usually have a system of evaluations by users .