Despite online retail becoming the major – if not exclusive – sales channel for many businesses, certain sectors have been noticeably absent from web-based retailing. This was something Bulgarian-born Zed Klingenberg noticed about car tyres.
“If you look at the whole market, it's a $5 billion market, but almost no tyres are sold online so we thought, why not?,” explains Zed about the foundation of his business, Tyroola.
As Zed has discovered, selling products online that has not traditionally been done so can be a lucrative revenue stream or even a new business opportunity. However, doing so requires a strong understanding of exactly how you can offer prospective customers a superior shopping experience.
Education and offering time savings are two such means of achieving this, given that many people search for information online before making a purchase, and virtually everyone is seeking to reduce the time spent at the checkout or in transit.
“There's a lot of people looking around [online for] product information on tyres. You have some of the major manufacturers spending tens of millions a year on online marketing, but there wasn't really a good platform that puts everything together,” he says.
“It's not that people are not interested at all for good product, quality, good service at the right place, it's just that there wasn't a platform to facilitate those needs.”
For Zed, combining product information with a sales function has enabled Tyroola to become a one-stop-shop for tyres, monetising the leads that are derived from online information searches.