Business Tip: E-trading

Mr business tips himself, Ed Scanlan, wrote a post about E-trading in our Florismart Florist Facebook group. At Florismart we want to make sure that you buy the best quality flowers for the best prices. E-trading is the second best option for buying fresh flowers, after using our Pre-order system. Read more below to learn how to benefit froam E-trading.

Ed’s post:

I loved watching the E-trading process over the weekend, the flower clock counter had gone from 6,000 batches to over 20,000 batches… but how can that be when there is no auctions on Saturdays or Sundays?

E-Trading (Electronic trading) is what it’s called. The growers cut the flowers, because they never stop growing. They inform all the exporters in their regions that they have  an x amount of flowers for them to try to sell before going to the auctions. This activity also makes your fresher flowers cheaper, as there is smaller trading fee than at the auctions.

Every day the E-trading starts at 3pm until 11pm. All unsold flowers head to the auction the next day. You can see now where extra costs come into play. Auctioneers fees, staff wages, haulage and so on. They (the auctioned flowers ) are then hauled back to the exporters which is ironic, because  this is in many cases next to the growers.

* Note for the weekends it starts at 3pm on Fridays and continues until 11pm Sunday.

 

Prime time

If you’re buying from the Live Shop there is something called prime time. This is between 3pm and  11pm ,when the flower choice will be the highest because all of that day’s flowers that are auctioned are online.

Ed illustrated this by checking  yesterday’s flower stock at several moment during the day. He first checked the Live Shop at 11.30am, half an hour after the opening of the auction, with an availability of 11,030 flowers. He then again checked the availability at 12.15pm: 12,072 flowers.  And at 1.30pm there was a choice of 12,371 flowers. But then at at 3pm the choice grew to  16,318  and at 4.15pm to 17,242 flowers.

e-trading

Understanding this principle will make you a better buyer. Because as the choice grows, there will more flowers to look at, and in that extra choice will be some great better prices.

 

How to recognize E-trading

So how do you know if the product you’re looking at is from the E-trading lot? In that same post Jake Nicholson-Lailey  gave this great tip:

‘The E-trading pictures generally have a brand logo or a Dutch book stock photograph as the image. Generally, if the quantities are really high, and you can often see two or more exporters showing the same quantity, that’s a tell-tale sign it’s an E-trading lot. It’s super fresh as it is being basically promoted by an exporter on behalf of a grower’.

E-trading is the second best option to buy flowers after Florismart’s Pre-order. Pre-ordering is better, because you know the flowers will be there, also you will know the prices in advance. Most importantly your flowers are cut fresh from the grower and sent directly to you without anyone in between.