Why an online live lobster real-time auction service? Who benefits – Buyers or Sellers? Great questions and it does not take us long to answer these and many others. First off, let's address Buyers and Sellers in general terms. The market is made of both. The market collapses without both. The look and feel of the industry is determined by both. There are not two sides to the seafood world. Buyers and Sellers are on the same team... the same side, working to enhance the image of their product as a high-end seafood offering, known all over the world. At the very least, Buyers and Sellers need to work together to maintain that image, or the market further deteriorates.
We looked at the seafood industry for many years. We have spent considerable time with salmon, halibut, cod, haddock, scallops and lobster. It dawned on us that things could be better in each of these markets. But lobster was near and dear to Maine, our friends and ourselves. AIKIDO Bay's unique approach to marketing can be used in any industry, anywhere... but we are starting with lobster.
Without going into the actual use of the secure web portal, here is what we can share publicly.
We offer the following:
marketplace where Buyers and Sellers remain anonymous
improved quality of the lobster
quality improvements in the industry
possibilities of investments in technology and quality programs
innovations in an industry not known for innovations
truly traceable system back to the source with in-depth reporting available to all users
enhanced logistical support in the industry
higher margins for Buyers and Sellers through improved efficiencies
work in concert with federal, state and international governing bodies
constantly evolving system to better accommodate industry needs
AIKIDO Bay will offer traceable product in a traceability driven world. Instead of constant consolidation of loads, a truly traceable product will be moved directly from Sellers to Buyers. The Buyer will know when and exactly what area their lobster was caught. There will be in-depth reporting available to all Buyers and Sellers. Both will benefit by being able to offer their customers at the reatil level a documented and traceable product.
Buyers will be able to determine if their purchases from Sellers in specific regions, or with refrigerated holding facilities, or at specific times of the year truly offered better shelf-life or better quality. Better quality decisions by Buyers will result in better quality product entering the retail market. Buyers may find that transportation services offered by Sellers are much more efficient than those same services the Buyer has traditionally supplied. Sellers will reap benefits here as well, as logistics handlers will improve, expand and enhance their services.
Buyers will be able to pay today what they can and not worry about end-of-year settlements. Often these settlements cause hardship to some Buyers, because they are paid months after the purchases, only after the company has determined whether they had a profitable year or not. Although every company has a clue during the year as to their profitability, none really know with accuracy until their fiscal year ends. What transpires between early and late season in the lobster market is dramatic most years. Buyers should love to have the unknown burden of how that year-end settlement will affect their bottom line removed from their list of worries. Purchases and sales on AIKIDO Bay will be outside of those long-standing obligations many Buyers find themselves with. What you pay at AIKIDO Bay is the final amount. No adjustments would be expected. Sellers and Buyers may see a higher in-season price but that is the market price. Both will benefit.
How much more could be invested in quality enhancing technology if a company knows their year-end profits are actually available for re-investments instead of being doled out for year-end settlements?
Sellers will be rated on the accuracy of their lot descriptions. The description detail required is in-depth. Buyers will be able to see at a glance all those elements important to making good buying decisions and the Sellers are held accountable for accuracy. Sellers will be accurate in descriptions and work with Buyers on issues to maintain their selling status on AIKIDO Bay. There are repercussions on Sellers who do not maintain minimum standards. Buyers are 100% responsible for assessing a Seller's performance. Bringing ethical and responsible representation of product to the marketplace is assured.
Companies generally have employees buying, selling, and many other things in a given day. The buying and selling process now takes the better part of a day especially when the market conditions are tough. With this open market approach large volumes of lobster will be available in a condensed time frame. Most auction-style lot sales take place in about a minute and a half from start to finish. And if a lot does not sell the companies still have the better part of their days to make those sales and buys, as they did in the past. Efficiency of buying and selling is automatic, freeing up Buyers and Sellers for the other important things that sometimes suffer. Talk about more bang for the buck... AIKIDO Bay will offer companies a much more efficient use of time by their staff.
Our excitement continues to grow as we hear from Buyers and Sellers, big and small across the region. We hear from lobster companies throughout the Northeast US and Canada daily. Everyone has questions, comments, and suggestions. Each day our team works to refine our sites based on the feedback we receive. We continue to evolve for the user. Our launch is fast-coming. Early to Mid-March! The simplicity of our user interface, our free online webinars and our 24/7 customer support line will ensure all users become quickly familiar with the ease of use. For more info visit aikidobay.com
The New Normal – that is what we believe Buyers and Sellers will call AIKIDO Bay – the new normal way to handle lobster buys and sales.