PriyoShop Empowers 32,000+ Micro-merchants

Mr. Rahim, a 32-year-old retailer from a local area of Dhaka, serves his local community with daily commodities. He starts his day by opening his shop, and passes all day serving his customers. He has different types of customers who have different types of necessities and demands. To fulfill their demand, Rahim needs to go to different sources (brands, distributors, manufacturers) to purchase goods. As he is a one-man army in his shop, he needs to close his shop while sourcing the products. He also has to purchase at a higher price to entertain customers, leading to further losses. Additionally, transportation cost is a significant expense for him, resulting in lost money and business hours. These gaps in the supply chain are causing him to lose up to 30% of potential revenue.

Like Mr. Rahim, there are 5 million retailers who cater to 170M people. With these huge numbers of retailers, the retail industry is growing every year with the addition of 70,000 retailers. 97% of retail transactions in Bangladesh are contributed by small retailers like Mr. Rahim. PriyoShop is an on-demand B2B marketplace in Bangladesh that connects retailers directly to suppliers, fixing the fragmented supply chain. PriyoShop has brought brands, manufacturers and MSMEs together on a single platform to make a better channel for MSMEs. They now have access to a digital catalog which allows them to stock an inventory full of popular branded items without the requirement for a physical warehouse, resulting in a 20% increase in sales.

Bangladesh's economy has expanded considerably in recent years. Bangladesh's GDP is USD 460.8 billion, with a growth rate of 7.1%. With this expansion, Bangladesh has become a tiger among Asian nations, as no other country on the continent has expanded as much as it has. MSMEs provide about 40% of this in this expanding economy. The country boasts a robust small business environment, with 5 million MSMEs in operation including 0.6 million restaurants and 4.4 million mom-and-pop stores.

Bangladesh's thriving MSME industry reflects the country's economic progress. According to the Bangladesh Bureau of Statistics (BBS), the number of MSMEs has increased by 235% over the last 20 years, with a market value of around USD 191 billion. There is a market and thousands of scopes; but the sector has substantial supply chain gaps that prevent it from reaching its full potential.

One of the remarkable problems of this industry is, most of the MSMEs are a one-man army, and they must go to different sources (brands, distributors, manufacturers) to purchase their goods, which is time-consuming and costly. They also have to purchase at a higher price to entertain customers, leading to further losses. Additionally, transportation costs are a significant expense for them. These gaps in the supply chain are causing MSMEs to lose up to 30% of potential revenue.

To address these challenges, PriyoShop has developed an innovative solution that caters specifically to MSMEs including restaurants and mom-and-pop shops by adapting them to technology. PriyoShop offers an easy-to-use app that enables them to browse and order products from over 160 brands, with delivery services directly to their stores. This approach streamlines the supply chain and enables MSMEs to save time and money, boosting their revenue potential.

Currently, PriyoShop is operating its MSME operation in Dhaka, sub-Dhaka and Chittagong with plans to expand to other regions. The company is dedicated to creating a positive impact on all MSMEs from Teknaf to Tetulia. By leveraging technology and providing a streamlined supply chain, PriyoShop is helping drive growth and success for MSMEs across the country.

In conclusion, Bangladesh's thriving MSME ecosystem is a testament to the country's economic growth and development. However, there are still gaps in the supply chain that are hindering the industry's full potential. PriyoShop's innovative solution is helping bridge these gaps and support the growth and success of MSMEs in the country. As Bangladesh continues to emerge as a major economic powerhouse, solutions like PriyoShop will be instrumental in supporting the continued growth and success of the MSME sector.