With the rise of superfoods, nuts have become a popular and healthy snack option. There’s a good chance some of your favourite snacks have come from Olam Nuts, a division of the Olam Group: among the world’s leading food and agri-businesses. Olam Nuts is one of the largest suppliers of bulk nuts and seeds, operating in over 60 countries. These foods continue to grow in value and demand, with the edible nut market accounting for USD 88.94 billion in 2018.
As a significant global supplier, Olam Nuts’ business model catered to huge manufacturers who buy nuts in bulk and wholesale quantities by the truckload (or larger). To add liquidity and tap into new markets, the company wanted to open up its offering to smaller manufacturers and businesses like bakeries, caterers and restaurants in the U.S. and Canada. The challenge lay in reducing product quantities and increasing sales without affecting profitability. This wasn’t possible through the traditional off-line business model, where the sales team manages one-on-one relationships.
Instead, Olam Nuts set out to disrupt the industry by introducing eCommerce with OlamNuts.com. By developing an online store designed to facilitate sales and fulfillment for smaller businesses, the company could expand its customer base without taxing its sales managers. When selecting the best platform, OlamNuts.com chose Magento Commerce hosted in the cloud due to its robust B2B functionality, expansive ecosystem and scalability, working with solution partner, Redstage.
The new site would be the first of its kind in the industry to offer wholesale nuts and seeds in quantities as large as 35,000 pounds. OlamNuts.com and Redstage understood that success depended on creating an online experience for B2B customers that emulated consumer retail sites. Because it was introducing a new business model to a traditional market, website design and an intuitive experience were critical to getting existing customers onboard while also attracting new ones.
“Thanks to the online experience delivered with Magento Commerce, we’re enjoying higher liquidity, serving more customers from more verticals and operating more efficiently,” says Nikhil Tandon, Senior Director of Trading at OlamNuts.com.