01732 759725 46 E-COMMERCE The need for businesses and consumers to act more sustainably, allied to growing interest in the circular economy, are creating a thriving market for used technology products. In last month’s issue, we explained how Tech Data was encouraging partners to use its trade-in services to incentivise mobile phone sales. Here, we look at a rival solution that targets end users directly release the economic and environmental value trapped in them by revamping traditional e-commerce through the application of data science and proven business models to the benefit of buyers, sellers and the planet. TR: How does the Doji platform work? BK: Sellers list used goods using a combination of preset product profiles and pictures and by answering a few questions to determine the appropriate quality grade. They can then set an asking price for the product or choose to be matched instantly with the highest bidder for an immediate sale. Shipping is via Doji’s nationwide logistics partner. Buyers always see the lowest price for their searched item and can set their own desired buy price by making an offer (placing a bid). This logs their bid anonymously in a transparent order book and gives them the flexibility to buy at a price and a time that suits them. On the Product Pages are the Buy Now prices, the latest Bid and Ask prices (updated in real-time), as well as Buy prices from other platforms – to help the individual decide what price to buy or sell at. TR: How will Doji help drive the sustainability agenda? BK: Every year consumers and businesses throw out millions of tech devices, including mobile phones. These either end up in landfill and pollute the environment or get dropped in a drawer and forgotten about. It is estimated that 55 million phones with a combined value of £16.5bn are lying dormant in UK homes. To date, attempts to champion the circular economy by empowering people to make smarter buying and selling decisions have been hampered by lack of information about the value of used products and what consumers should be prepared to pay or receive for them. Unlike traditional commodities, such as coffee or sugar, the gap between the buy and sell prices of these items is extreme, hurting consumers and discouraging supply/demand and sustainable At the end of last year, Doji launched a ‘next-generation’ marketplace for used mobile phones and secured $3.8 million in seed funding from Brazilian venture capital firm Canary and other investors. Founded in January 2020 by entrepreneurs and investors Bilal Khan, Fernando Montera Filho and Satyen Fakey, who met on a Masters programme at the University of Oxford, the Londonheadquartered start-up aims to disrupt the market for used tech products. In this Q&A, co-founder Bilal Khan tells us more about the platform and why it has the potential to benefit buyers and sellers of used technology products, as well as the planet. Technology Reseller (TR): What is Doji? Bilal Khan (BK): Doji is the only online marketplace that uses a trading platform to let people buy and sell used tech products. Similar to the proven stock exchange model, the platform uses realtime market information to give users a frictionless buying and selling experience with none of the inefficiencies associated with other marketplaces for used goods. TR: What is the main drawback of existing solutions? BK: To date, both buyers and sellers of used goods have been forced to settle for less value than they originally expected to receive. In fact, approximately 80% of UK consumers choose not to sell their used mobile phones, either because prices are too low or because selling is too time-consuming. Doji aims to unlock latent supply and demand for used tech products and Introducing Doji l to r: Doji Co-founders, Bilal Khan, Fernando Montera and Satyen Fakey
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