The growth in ecommerce is allowing smaller sized apparel firms in markets like India to sell directly to consumers worldwide.


Global payments solutions provider Payoneer recognized 1o entrepreneurs as it celebrates its 10th anniversary this year.

The recipients of the Payoneer 2016 Entrepreneurship Awards span the market, and include apparel suppliers, software engineers and digital marketers from across the globe. The recipients are: Ana Maria Vaccaro of Argentina; Eslam Nagy of Egypt; Jade Jade De Vivar of the Philippines; Khoi Nguyen Tran Minh of Vietnam; Kyrylo Kuzin of the Ukraine; Md Yahia Khan of Bangladesh; Shreemukha Sullia of India; Owais Afaq Akhter of Pakistan; Yoshua Sugandhi of Indonesia; and Zoran Milin of Serbia.

Scott Galit, chief executive officer of Payoneer, said due to the growth of e-commerce and solutions that foster cross-border transactions, entrepreneurs are reaching new customers all over the world. “If you are talented and have something distinctive, the path from concept to customer is shorter than its ever been,” Galit told WWD. “It’s a true democratization of access to the market.”

Galit said fashion apparel and goods has emerged as a key segment as consumers — especially Millennials — crave authenticity as well as the narratives behind the products, which is why smaller, artisan-type producers are thriving. As a result, Galit said Payoneer clients are experiencing “double- and triple-digit gains” in revenues.

The ceo noted that e-commerce platforms such as Wish for Merchants is also making it easier for entrepreneurs, merchants of all sizes and manufacturers to connect to consumers globally. “Wish is like a combination of Pinterest and Amazon,” he said adding “engaging platforms” such as Wish allow consumers to access high-quality yet low-priced goods.

Subsequently, Galit said his company is responding to the growth in global e-commerce by making investments in infrastructure in places like India and Japan. He noted that the growth is “occurring in developed and developing countries as well.”

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