May 2022: With rising energy prices being announced worldwide due to a combination of international factors, digital marketplace ShelfNow shares how surging prices have impacted the business and how it has adjusted its logistics in order to support the trading partners on its marketplace, during this financially challenging time.
ShelfNow proudly operates across Europe in a post-Brexit economy, representing thousands of artisan products from food and beverage brands across 12 European countries and working alongside trade buyers across the UK from independent retail to foodservice outlets. Taking the reins on paperwork and logistics, ShelfNow handles the fulfilment of orders, payments and invoicing to enable its partners to dedicate their time to other aspects of business development. According to their preferences, the company also offers brands a new channel for direct sales while using machine learning technology to help them find the most relevant trading partner.
Now, when arranging shipping and courier services for its producers and buyers on the platform, ShelfNow has absorbed the financial surcharge for fuel at around 20% so that the business can continue fulfilling its SME partners and offer them support in navigating inflation as well as higher operational costs.
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As the nation waits for an additional hike in fuel prices this October, ShelfNow is also preparing for a further increase in prices later this year when existing contracts with logistics partners are renewed but has plans to counter this surge.
Head of Operations at ShelfNow, Sajid Ghani commented: “At ShelfNow we champion SMEs and artisan businesses which have been harshly impacted by recent policy changes such as post Brexit trading arrangements and soaring energy prices. Sadly, the pandemic also saw the closure of many small independent businesses that found it difficult to survive under such strenuous trading circumstances.
“Rising energy prices are currently another factor which will undeniably impact SMEs over the coming months. Therefore, at ShelfNow, we have decided to absorb and manage this financial pressure, allowing our SME and artisan partners to continue to feel supported by our online marketplace. We believe in the quality of the products we offer and we aim to make them the focal point for our buyer partners, as we strive to make logistics as simple as possible.”
