TORONTO--(BUSINESS WIRE)--Hubba, the largest B2B commerce network connecting buyers and brands, today announced the launch of Hubba Flares. Hubba Flares is a powerful new tool that allows buyers to easily send requests for specific inventory and receive relevant product suggestions directly from brands who are able to meet their set requirements.
On Hubba today, buyers can Search for brands and have brands recommended to them. Hubba Flares, however, is a way for a retailer to explicitly communicate an immediate need for a type of product they are looking for and have submissions come to them in an organized and efficient way.
Over the last ten years the number of packaged goods introduced to the market more than doubled. A similar influx of new products has been seen across all categories as barriers of entry for craft brands to bring their products to market are eroding.
“In this new world of commerce, one of the greatest challenges buyers face is keeping up with product trends, market changes and discovering the right products (new products) to meet customer demand,” says Ben Zifkin, CEO and Founder of Hubba. “Hubba Flares makes the process of discovering and engaging with new brands simpler and more efficient for buyers building their assortment.”
Buyers today are dedicating an average as much as 30 days to the product discovery process when launching a new category or building planograms. Initial beta test of Hubba Flares has seen buyer's initial discovery for relevant product submissions reduced by 83%.
The initial beta test introduced a select group of buyers both on and off the Hubba Network to Hubba Flares. In this testing phase alone, buyers put out requests for specific products and discovered on average 5 new relevant product submissions for each successful Flare. 16% of these product submissions resulted in new business relationships with some companies already initiating the ordering process.
With the ability to customize requests based on product attributes, geographical specifications, and shipping stipulations (amongst others), buyers are able to attract the attention of brands that meet their specific inventory needs and timelines.
Brands are also seeing benefit from Hubba Flares as relevant requests surface highly qualified buyer leads.
New Efficiencies in the Buyer Brand Relationship - About Hubba Flares:
- Hubba Flares is a new feature that is free to both buyers and brands on the Hubba network.
- Buyers, whether retailer, distributor or broker, are able to create Flares in a few easy steps, and within minutes receive submissions from tens of thousands of brands in the Hubba Community.
- Buyers are presented with products that specifically match their requests and can easily dismiss or accept those submissions.
- Brands are able to search through requests submitted by buyers and decide if their products meet the buyer’s specification and instantly connect to begin the conversation.
With +60,000 members, Hubba is the leading business network designed to empower independent companies to connect on opportunities to grow their business. The platform provides powerful tools for buyers to discover new products from some of the world’s most innovative and creative brands, and opens new avenues for product creators to expand their reach and build partnerships with retailers across the globe and over multiple categories.