PalletTrader tops one million pallet transactions, announces service expansion with PalletTrader+

PalletTrader, which launched last October as a new online platform designed and built exclusively for the sourcing, buying and selling of pallets, has expanded its product offering with the launch of PalletTrader+. The launch coincides with the platform this month surpassing one million pallet transactions in its first eight months of operation, the company added.

PalletTrader+ is a “managed service” offering, combining an industry-standard online collaboration platform and digital transaction processing, with dedicated resources and expertise to manage pallet sourcing, acquisition and supply on behalf of a business. The offering responds to demand from enterprise customers who typically are operating more complex supply chains with multiple manufacturing and distribution sites needing consistent pallet supply, and want a more comprehensive “outsourced” solution, noted John Vaccaro, president of Bettaway Supply Chain Services, which built and operates PalletTrader as an independent, neutral ecommerce site.

“This is the natural evolution of a marketplace,” explained Vaccaro. “PalletTrader+ is for those large enterprises who want to take advantage of dynamic market procurement opportunities but don’t want to staff or manage it,” he explained. “They want a hybrid model where they have control but engage with a dedicated expert specialist to operate and execute the function for them at arm’s length.”

Vaccaro noted that PalletTrader+ is following a familiar logistics outsourcing playbook. “It’s the same concept as a business hiring a third-party logistics provider to source and manage their freight trucking needs or operate a warehouse on their behalf.” Typically, a managed services client would provide a daily, weekly or monthly forecast of pallet needs. The PalletTrader+ team would then do the blocking and tackling to execute that plan, coordinating and communicating regularly with the client to manage and address changing needs.  

Vaccaro added that the platform was initially built and launched as a comprehensive self-service tool, enabling the hundreds of mom-and-pop pallet depot operators, typically sellers of pallets, to digitally engage with a wide range of buyers and gain access to new buyers.  This market segment had little to no access to ecommerce technology to streamline the buying and selling of pallets. At the same time, he anticipated that as the platform gained traction, a market would emerge among larger customers for a next-level service.

“Reaching one million pallet transactions in less than eight months, and successfully onboarding hundreds of pallet buyers and sellers during that time, far exceeded our expectations,” Vaccaro said. “As we got more feedback from users, it was clear that larger businesses were interested in a more robust offering, providing a planning and execution component that they could launch quickly, and leverage value from both enabling technology, and skilled personnel with deep market expertise. That’s what we’re providing with PalletTrader+.”

The other key “ask” that Vaccaro and his team received from corporate users, the company added, was for larger enterprises to have a credit option. In the current “do it yourself” model, buyers and sellers post, bid, negotiate, settle a sale and execute payment immediately as a single transaction. With PalletTrader+, qualified corporate users gain access to a line of credit. Under this program, the platform captures and consolidates all pallet transaction activity. The system then sends a consolidated invoice capturing all activity during the designated period.

“This offering is good for any company that operates or is responsible for pallets at multiple locations and is especially ideal for those businesses that operate in both a company owned and outsourced warehouse co-pack network,” Vaccaro concluded.

Bettaway funded, built and is operating PalletTrader as an independent, neutral online business platform.