An Odezy
Since we live on the internet and the streets are just too busy to even go out for any mandatory outings it just all kinds of make sense that the solution would be right there. Well its is! There has been a uprising of online shopping sites in the last year and Odezy.com is here to make its mark as a key player. I sat down with Omar El Sahy the founder and listened to what he had to say about his newest baby.
What is Odezy & is there any significance with this name in a particular?
It’s a unique online marketplace where design is affordable, creative and very different.
O, being a sign of disbelief at the beauty of the designed products, DEZ is a calling for design, and the Y represents the word “my” being the designer who now has a platform to market his or her creations to the world…
To be brief, the name Google worked so why not Odezy…
How does it work?
1. Visit Odezy.com and Join by becoming a member.
2. If you are accepted, check out all the frequently changed boutiques.
3. Pick out any item that you like.
4. Place your order, delivered inside 3 business days.
5. Pay when you receive it.
6. Enjoy…
Why is it different to other shopping sites?
Although there is no current direct competitors, particularly in Egypt aside from traditional e-commerce sites. The primary concern will be Private Flash Sales Sites in the region. However, flash sales businesses are approaching an inevitable impasse due to shrinking supply of inventory and growth in users and competitors. In response, they will eventually begin going down-market to lesser-known brands, offering smaller discounts, and even expanding to full-price offerings.
Odezy.com differs from the traditional flash sale businesses in several ways, not just in its focus on design.
1. Perhaps the most significant difference is that Odezy.com is not reliant on excess inventory. Less than 5% of sales are liquidation, and brands will be able to eventually make to order.
2. Odezy.com holds minimal inventory as 90% of brands drop-ship. This results in low working capital requirements and enables simplified scaling.
3. 90% of suppliers are small independent producers. These brands view Odezy.com as a new retail outlet and marketing vehicle.
4. Odezy.com compensates brands such that each sale is profitable. Consumers value Odezy.com for product discovery as much if not more than for discounts.
5. Odezy.com has minimal sizing issues. Most sales are final, leading to very low return rates
Does it cater to international boutiques or just Egyptian?
The boutiques are from all around the world, including Egypt. Good Design is the single factor we limit ourselves to when products and boutiques are being selected.
Do you deliver internationally?
Odezy.com initially will only cater only to the Egyptian market. Although we will be expanding into Saudi Arabia, UAE, Lebanon, Jordan, Morocco, Tunisia, Kuwait, and Qatar, each country in general will house independent design inspirations.
What was your inspiration behind this? And is it your first venture in to the online world?
Prior to Odezy.com, there was no single destination for the MENA region for design online. Prior to Odezy.com people had to buy their products from abroad and wait for weeks and unknown custom expenses or they had to go to dozens of websites and physical retailers to uncover interesting design objects, inspirations, and sales. We’ve brought that all into one place. Our vision is for Odezy.com to be synonymous with design throughout the MENA region.
Design is a horizontal market, cutting across numerous vertical categories. Good design can be found in all sorts of products ranging from furniture to tabletop to electronics to bikes to desks to handbags to luggage to jewelry to art, food and more. And we’re selling it all on Odezy.com. What’s great about this is that our product range is bounded only by good design, not by category.
Design is social. People love sharing their latest design find and people love getting inspiration from design. People love a great deal on design. Our unique cost model with viral/social invites, low working capital requirements, and more predictable demand and inventory, enables us to pass along extraordinary savings to our members — far better than what they can achieve at any offline retailer — while still enabling suppliers/designers to make money to support their ongoing creativity and product development. Suppliers and designers love Odezy.com because we provide them with a direct to consumer marketing channel like they’ve never had before.
Our business model scales based on the relationship we are developing with our customers, enabling us to (hopefully) obtain significant lifetime customer value vs. traditional e-commerce. This coupled with low customer acquisition costs and our social/viral invite model, and this business could really scale up nicely.
Is this your 9 to 5 or more of a baby on the side?
It’s my 24/7…
WE SAID THIS: Business & Passion, Always The Best Mix!
