UDM.MARKET annual report for 2021 and strategic plan for 2022
On December 16, 2021, within the framework of the Third Export Council under the Head of the Udmurt Republic, the CEO of Made in Udmurtia Trading House and the international marketplace UDM.MARKET Denis Dmitriev announced the results of 2021 and plans for 2022. Watch the video from the live broadcast.
We have held a huge number of training events on e-export trade for sellers and buyers this year, and we have had great results. UDM.MARKET is now a platform where any manufacturer or its official representative can set up a free wholesale and retail store and sell their products or services to the whole world.
We focus on three sales models: B2B wholesale sales, D2C - direct to consumer, when the manufacturer sells directly to consumers, for example, Nike and Adidas already sell more than 40% of their products directly to consumers bypassing distributors and stores. And the M2M model, thanks to which we already place our manufacturers' products on such major marketplaces as eBay, Etsy, SberMegaMarket, OZON, Wildberries, Yandex.Market, and Aliexpress.
For 2021 we placed 3400 products from 450 sellers on UDM.MARKET, as well as Russian and foreign marketplaces. At the beginning of the year the figures were 1,251 items from 136 sellers. During the year the growth was 4 times!
The companies received orders from 35 countries to the amount of more than 200 million rubles (2,714,000 USD), from food products to mechanical engineering. Some companies achieved results of almost half a million rubles in a week. View a screenshot of correspondence with a customer from Romania, who orders an induction boiler VIN from the company Alternative Energy.
This year we have launched the "Made in Udmurtia" brand store on the largest international marketplace of handmade goods Etsy, where we already sell eco fur coats made of Green Fur, stylish and high-quality sportswear for women OX.LION SPORTSWEAR, natural leather bags Nado Nado, as well as souvenirs from Udmurtia, orders for which have already been sent to the USA, California and Great Britain, London. Marketplace Etsy marked our store with a badge of honor for quick responses and timely dispatch of orders.
In the summer of 2021 we placed UDM.MARKET in the largest data center in Russia - Yandex.Cloud, which allowed us to take leading positions in search engines and provide quick access to the site from any country. UDM.MARKET traffic is growing and now our marketplace is ready to withstand any load.
As of December 2021, UDM.MARKET was visited by buyers from 138 countries, with Russia's neighbors Ukraine, Kazakhstan, and Belarus leading the pack, but the top 20 also includes distant countries such as the United States, Singapore, Germany, France, Sweden, Turkey, and Ireland.
UDM.MARKET is supported by Russian Trade Representations in 19 countries. This year we met in person and held online conferences with trade representatives in Norway, Denmark, Great Britain, Nicaragua, Argentina, Egypt, and Sweden. Thanks to Mikhail Khomich and Valeria Antonenko for their support. Especially we want to note participation of UDM.MARKET in e-commerce conference in Singapore thanks to support of Trade representative of Russia in Singapore Alexander Svinin. Entrepreneurs were so interested in our platform that they decided to place their products as well, so already 11 manufacturers from Singapore are launching their brand stores on UDM.MARKET
UDM.MARKET took an active part in the Udmurtia E-commerce Accelerator, where we trained over 600 entrepreneurs. At one of the presentations we explained in detail how to enter export and marketplaces in 1 click with UDM.MARKET, what free tools there are for working with marketplaces, how to analyze demand for your products before entering marketplaces, how to correctly prepare photos, videos, descriptions and make correct translation of the names of products. We have posted the training at https://udm.market/export and will be adding other useful tools to this page.
In 2022, we will focus on the development of services in FinTech (financial technology) and E-com (e-commerce). These are the most profitable areas in the world. We already have our own international wholesale and retail marketplace, our own studio for preparing content and live broadcasts for the whole world, and our service for accepting register payments for the housing and utilities sector and education has attracted clients with a monthly turnover of more than 1 billion rubles (13,570,000 USD).
UDM.MARKET's next projects will be:
+ "Digital Consumer Cooperative", which will allow shoppers from all over the world to get better prices on goods from Russia, discounts can be 20-30% thanks to tax incentives. We are already combining experience with UdmurtPotrebSoyuz, one of the largest cooperatives in Russia.
+ We will create an application for automated work with marketplaces around the world that uses Artificial Intelligence to help take studio-quality photographs at home, make sales videos, automatically create texts describing products, and upload this content to well-known marketplaces and receive orders from all marketplaces in one application.
+ Having gone through our own experience with investments, we will create an online venture exchange for startups, where entrepreneurs will be able to raise money to start a business from private investors from all over the world without the involvement of banks, this will greatly accelerate the development of small businesses in Russia and other countries.
For the development of services, we are creating a joint stock company, through which anyone can become an investor and co-owner of UDM.MARKET, it will allow to attract more than 500 million rubles (6,785,000 USD) of investment in projects which we plan to turn into 4 billion rubles of assets in 2024. We already have the first 35 applications. Interested persons can contact the Investor Relations department by e-mail at invest@udmmarket.ru