ShoreTrade: Transforming the Seafood Industry into the Digital Age

Introducing ShoreTrade – Transforming the Seafood Industry

ShoreTrade is the seafood industry’s first global digital trading platform. The logistics scale allows a fishermen, cooperative or processor to expand into new markets, reaching buyers across Australia and internationally.

Understanding the Seafood Supply Chain

For decades, the seafood industry has interacted with their products the same way. However, the industry has changed, and it’s time to solve the problems that exist in the supply chain. Currently, most fishermen send their catches to be auctioned off to a small group of buyers. These buyers then pass the products through various wholesalers before they reach the end consumer. Each time they are passed along, the prices get marked up an additional 15-20%. By the time the products reach the consumers, they have not only lost 1-2 weeks of freshness, but the prices have skyrocketed.

Shifting the Power to the Fishermen

Shoretrade gives the power to the fishermen. For the first time, fishermen will have access to thousands of buyers at their fingertips. ShoreTrade allows fishermen to expand into new markets; first across Australia and eventually globally. Sellers will have access to average prices in a multitude of cities and countries, allowing them to choose their own prices and list their products in areas that work best for them.

Consumer Benefits

From a consumer’s perspective, ShoreTrade will promote ease of access to fresher products at cheaper prices. By purchasing catches direct from the fishermen, products will no longer be passed through so many hands before reaching the end consumers.  ShoreTrade’s traceability features allow consumers to know exactly where their products are coming from and where they have been every step of the way.

Revolutionising the Industry

ShoreTrade will transform the industry from a pen and paper world to an open marketplace. The current seafood supply chain is outdated and inadequate. ShoreTrade will bring the industry into the digital age and transfer the power and money into the hands of the fishermen and their customers.

 

To learn more about ShoreTrade, check out this article in this month’s Australian Financial Review, or visit ShoreTrade’s website here.

 

Written by Emily Nagy