The online aviation marketplace Locatory.com has been growing fast with some innovative tools.
Every year now, over 8 million unique part numbers go through Locatory.com’s system in transactions, notes new CEO Dainius Meilunas. “Since the start of operations, we had a stable year-on-year growth of transaction numbers.” Compared with 2015, Locatory.com’s customer pool grew 45% while income increased 65% in 2016.
Meilunas says commercial aviation parts take the lion’s share of transactions, 62% of all parts. “Components for cargo operations and general aviation aircraft take a tad over 30%.” Rotables are sold by close to 58% of customers, consumables by 54%, avionics by 53%, airframe parts by 51% and engines by 46%. Ground Service Equipment accounts for 18% of sales.
Reactions to Locatory’s new online shipping service has been positive and surprising. “Right after the services launch, over 70% of all consumers have expressed their interest in the shipping option,” Meilunas says. “No competing marketplace offers a similar service.” Locatory.com’s shipping is a fulfilling element of the supply chain and further optimizes procurement. Users are attracted to competitive pricing and getting quotes for one or multiple parcels online. Locatory.com also offers a customs clearance service so clients can track shipping status online and book couriers to pick up at the same place.
Fully 54% of all buyers now prefer to use another Locatory innovation, Amber Artificial Intelligence, to search for spare parts on its database. And 12% of all buyers use Amber to distribute RFQs to Locatory.com supplier members.
All these services are provided by a small staff. Locatory employs about 30 specialists: account managers, web developers, designers, marketing professionals, analysts and so forth. It expects this number to grow by 30% in 2017, mainly in customer support and IT.