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15:51
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Originally posted by Fixit:
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I think of MYD and KGN as on line purchasing platforms. They may purchase and on sell some goods (retail) but for the majority of sales on MYD the goods purchased are dispatched from another supplier. The commission for the sale goes to MYD because the product was sourced through their platform. I've actually located the same item listed by different suppliers at different prices. The function of platform selling is more a tech function than retailing which requires much handling/storage/processing of goods. Lower overheads because pure retail has big increases in handling/warehousing costs as sales increase but this cost is born buy the actual supplier and not MYD. KGN has own brands and other products but I'm not convinced they are solid contributors to their bottom line. If MYD can do it well, make improvements to the platform and broaden supplier base it only then has to grow sales ans its money for jam IMO....
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Thanks for sharing your take on that. Definitely on my watchlist. Looking good at current price.
