STX ‘TrollyGo’ Leads Global B2B Trade Digital Innovation
- seoultribune
- 1월 31일
- 3분 분량
STX’s newly launched global B2B platform, TrollyGo, is rapidly transforming traditional trade practices. Introduced in November 2023, the platform is pioneering digital trade innovation by shifting raw materials and industrial goods transactions from offline to online.
50 Years of STX’s Digital Trade Innovation
TrollyGo is the world’s first B2B digital transaction platform operated directly by STX, designed to address information asymmetry and trust issues in the existing trade market. Unlike simple intermediary platforms, TrollyGo facilitates transactions based on STX’s established credibility, ensuring safe financial transactions, cost reduction, and faster deals compared to traditional offline trade.
In the B2B trade sector, where transactions involve large sums and long delivery periods, trust in counterparties is crucial. Previously, deals were primarily conducted between companies with pre-established relationships. TrollyGo shifts this model to a digital platform, creating a faster and more efficient transaction environment.
Three Main Transaction Methods on TrollyGo
Market: An open marketplace where users can easily purchase registered products.
RFQ (Request for Quotation): Enables businesses to request purchase or sales inquiries to STX if specific products are unavailable.
Bidding: Facilitates bulk inventory sales through a global auction system.
TrollyGo streamlines the corporate membership process and provides company information transparency, enhancing trust in transactions. The platform also features real-time price tracking, automated contract & invoice generation, maximizing convenience.
Companies transacting on TrollyGo can automatically register their business information using their corporate registration number. Additionally, they can verify basic details of their trading partners, ensuring reliable transactions.
$106 Million in Transactions in Just One Year
Within a year of its launch, TrollyGo surpassed $106 million in total transactions, quickly establishing itself in the B2B trade market. Currently, it operates in 188 countries and lists over 290 products. The transaction distribution by category is:
Mobility: 31%
Non-ferrous metals: 30%
Steel: 27%
Energy: 7%
TrollyGo is expanding beyond its traditional focus on raw materials and industrial goods. Recently, it introduced new categories such as art, K-beauty, and food, enhancing its global competitiveness. Recently, it facilitated a coffee bean trade, aiding South Korean food companies in entering international markets.
The platform’s traffic has also surged. As of last month, 43,000 visitors accessed TrollyGo, marking a 730% year-over-year increase. This growth is attributed to multilingual support, automated contract & invoice generation, and various payment options.
A Booming Global B2B Market… What’s Next for TrollyGo?
According to Grand View Research, the global B2B e-commerce logistics market was valued at $7.904 trillion in 2022 and is projected to grow at a CAGR of 22.3% through 2030. Aligned with this trend, TrollyGo aims to achieve $500 million in cumulative transactions by 2026.
Initially designed for USD-based transactions, TrollyGo will introduce KRW payment options in 2025 to facilitate domestic transactions among Korean vendors and buyers. Additionally, it plans to integrate AI-driven automation and big data analytics, positioning itself as the standard platform for global B2B trade.
Looking ahead, TrollyGo will further enhance its B2B trade competitiveness by integrating financial services (such as trade insurance and credit evaluation) and developing a direct-matching system between overseas buyers and domestic vendors.
TrollyGo: A New Era of Digital B2B Trade
With its rapid growth, TrollyGo is not just disrupting traditional trade but also setting new global standards for digital B2B commerce.
Seoul Tribune (c)
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