Nowadays, people trade textiles online using platforms like TEXchange Global. Before this, those who make woven fabric used to buy and sell unfinished fabrics through middleman companies like Damodar Menon. Traditional textile trading, where people did business in person, was common a long time ago, way before digital platforms and advanced technology came into the picture.
However, an online trading account on TEXchange simplifies textile trading. Apart from providing an international marketplace readily available at your fingertips, there are several other key benefits of using digital textile trading platforms.
What is Online Trading on TEXchange?
Online marketplaces like TEXchange are online textile trading applications for B2B textile businesses that allow the buying and selling of greige fabrics worldwide from a smartphone or PC and an internet connection.
These modern digital tools address the dynamic challenges textile businesses face in sales and marketing by providing the exact solution for their offers/inquiries.
All the features and functions are designed and developed keeping ease of use, business security, and transparency in mind.
What is Offline Trading at Damodar Menon?
Offline trading via Damodar Menon involves communicating your order details to a textile trading expert who executes the order on your behalf. However, this method comes with its own set of challenges. A small group of non-woven material suppliers still choose to trade offline due to their close relationship with their broker and unease with using online platforms.
Let’s see the key difference between online trading and offline trading for TEXchange.
Online Trading Versus Offline Trading
Trading Efficiency
With an online trading account, users can place their orders without the need for a third-party trader. It empowers them to undertake all the transactions based on their preferences, reducing the dependency on traders.
Online trading also offers greater convenience for negotiating, closing deals, and transacting quickly. All you need is to register on the app and have an active internet connection.
With an offline account, users must rely on an agent to place orders as specific instructions are given to them. You might need to constantly follow up with the agent and visit their office time and again to make decisions and complete transactions.
However, through their expert guidance, you might secure the best deals at cost-effective values and also establish personal relationships for the long term.
Technology and Platform
For those with internet access who prefer managing greige fabric transactions from home or the office, online trading accounts are ideal.
Alternatively, users without internet access or tech confidence can place orders via phone with their brokers. Our online marketplace empowers textile businesses to reach a global audience with tools like TEXauction® and TEXbulletin®, eliminating the need for extra branding or marketing efforts.
With traditional methods taking days to months, TEXchange streamlines the process, reducing deal closure time from weeks to hours using the internet, the most powerful business tool in 2023.
Cost Involved
Becoming part of TEXchange comes with no subscription expenses or charges, which can boost your per-transaction profits. Conversely, when engaging a trading agent, you may be required to pay a percentage of the transaction amount. This fee covers their provision of highly personalized services and dedicated attention to your needs.
Real-Time Processing
TEXchange, a innovative real-time platform designed to modernize global textile trading. Gone are the days of relying on WhatsApp, emails, phone calls, brokers, and traditional sales teams. TEXchange offers a complete solution, available 24/7, ensuring seamless operations across the globe. Its mobile-friendly interface allows users to access it anytime, anywhere. TEXchange facilitates direct connections between businesses and international customers. With its real-time product broadcasting feature, inquiries can quickly be converted into sales orders. This ensures optimal pricing and efficiency, eliminating the time lag and limited data availability often linked with traditional textile trading.
Which is The Best Place to Sell Fabric – Online or Offline
Buy Fabric Online from India can benefit a lot from the TEXchange Global trading platform. Online trading brings undeniable benefits, streamlining transactions for ease and speed. However, some still prefer offline trading, particularly when they have a trusted, long-standing relationship with an agent like Damodar Menon. Offline trading offers a personalized touch and the potential for high-quality investment advice from experienced agents.
