KUALA LUMPUR: Baloy, an e-commerce platform for grocery shopping, is offering essential products at cheaper prices — about three to 10 per cent lower than competitors.
Chief executive officer and co-founder Yen Chee Yung said by combining both “consumer to manufacturer” (C2M) and online to offline (O2O) concepts in Baloy’s business model, the company has effectively differentiated itself in the local retail space by offering the lowest price possible.
“With current household income statistics, Baloy’s business model offers a solution to lowering food-based inflation, by improving consumers’ purchasing power, and for small traders to carry out their businesses,” he said in a statement.
He reckons that Baloy’s innovative ecosystem not only benefits all layers of the supply chain but solves some of the common challenges such as cost efficiency, logistics, and delivery capacity.
To achieve this, Baloy has rolled out an instant trade credit programme that assists traders as well as small and medium enterprises (SMEs) to empower them towards recovery from the economic impact of the Covid-19 pandemic.
“We have high hopes for investors that wish to make a change in our community to join us in this equity crowdfunding (ECF) campaign on Ethis as well as make monetary returns in the long run as we continue to expand and grow over the long term in this food and groceries retailing industry,” he added.
For more information on Baloy’s ECF campaign, visit https://ethis.co/my/project/baloy/.
Check out the platform at Baloy – Bernama
