E-Commerce

  • Why Alibaba and Amazon Can't Do What We're Doing Without Disrupting Themselves

    There is enormous latent supply of equipment and machinery in China across a wide range of industries. The amount of arbitrage happening in the China-to-US machinery and equipment space seems almost too significant to not be disintermediated. Why has no one been able to tap into it, especially the marketplace giants, Amazon and Alibaba?

     

    High-Touch or Low-Touch?

    One reason is the unique high-touch service needs of equipment and machinery industries. High-touch means that customer service issues are often more complex, but the business involves high value customers. In contrast, most consumer goods follow a low-touch customer model.

    From operating call centers trained in technical advice and troubleshooting, to providing adequate after-sales maintenance and repair, the need for high-touch customer service from end to end is unavoidable in the world of big-ticket machinery and equipment purchases. Few Chinese manufacturers can afford to operate a dedicated US-based team to fulfill this for US customers.

    If traditional cross-border intermediaries such as trading companies and OEM buyers can fill this need and profit handsomely, why couldn’t a horizontal marketplace platform step in and steal their thunder (along with billions of dollars of profit)?

    As Alibaba and Amazon's marketplace platforms have been built out around consumer goods, these incumbent players follow highly entrenched low-touch service models. This because the relatively low value of consumer purchases prevent a high-touch model from ever being profitable. However, conversely, a low-touch model greatly limits these platforms’ ability to accommodate Chinese direct-selling of industrial equipment and machinery the same way they have – to an extent – for Chinese consumer goods.

     

    One Man's "Innovator's Dilemma" is Another's...

    It would go against Alibaba or Amazon’s core business models if they were to establish a dedicated after-sales service team to answer customers’ various technical industry-specific questions, much less provide on-site maintenance services. But that is exactly what is needed by Chinese industrial sellers in order to sell to the US.

    A platform that provides high-touch English-language service is the very key that will unlock an enormous volume of latent supply. It is a key that may not seem intuitive at first due to the consumer models proven out by the giants, Amazon and Alibaba. But it’s one whose numbers make complete sense if you take a look at the US market from a buyer perspective, in conjunction with understanding the challenges and incentives from a Chinese seller perspective.

  • Ugly Christmas Sweaters and the U.S. Textile Industry

    Examining the growing ugly Christmas sweater market for SMEs and entrepreneurs on National Ugly Christmas Sweater Day, and the importance of the U.S. textile industry.

     

    CERRITOS, California- December 15, 2017- Since 2011 the U.S. has celebrated National Ugly Christmas Sweater Day on every third Friday of December to commemorate eccentric, gaudy, or vintage sweaters for Christmas and winter Holidays.  Two decades after these sweaters originally became popular in the 1980s, the once small ugly Christmas sweater market now generates millions of dollars year round.

    Toolots employees in their ugly Christmas sweaters.

    Ugly Christmas sweaters and related products can be categorized in the U.S. textile industry.  According to the National Council of Textile Organizations (NCTO), the U.S. textile industry collectively comprises “…yarn and fabric manufacturers, suppliers in the cotton, wool, and man-made fiber sectors, dyers, printers, and finishers, the machinery and textile chemical industries, [and] customers in the U.S. apparel industry.”  As the leader in textile R&D globally, the U.S. has increased productivity of its textile mills by roughly 52% since 2000 and had $74.4 billion in shipment value in 2016.  Aside from creating ugly holiday sweaters, the U.S. textile industry is also responsible for manufacturing and producing advanced fiber products such as antimicrobial fibers, recycled polyester fibers, fire-retardant fibers, and more.  Additionally, the U.S. textile industry provides U.S. Armed Forces with over 8,000 textile products including, but not limited to, uniforms, ship composites, ropes and cables, ammunition pouches, and parachutes.  Furthermore, the NCTO reports that the volume of items provided to the military can vary depending on activity and engagement, and most recently has ranged between $1.8 billion to more than $2.2 billion.

    Source: U.S. Bureau of Statistics Textile, Apparel, and Furnishings Workers (51-6099)

    Following severe imports during the 1990s, a significant number of the U.S. textile and apparel industry’s annual profit currently derives from holiday shopping at the end of the year.  Data collected by the U.S. Census Bureau for the 2016 Holiday Season found that 21.8% of Clothing Stores’ annual profit came from holiday sales completed in November and December alone.  Similarly, holiday sales were roughly 23.7% of Department Stores’ annual profit, and 22.5% respectively for Discount Department Stores in 2016.

    For SMEs in the ugly Christmas sweater business, a seasonal hobby that may have made them several hundred or several thousand dollars now has the potential to generate millions of dollars in profits.  Despite major retailers and fashion designers entering into the market, SMEs and entrepreneurs generate a significant amount of revenue by using e-commerce stores to sell their vintage, licensed, or customized sweaters.  For example, the Ugly Christmas Sweater Kit saw a sales increase of 1,000% just in 2013, the UglyChristmasSweater.com made $4.8 million in 2015, and the Tipsy Elves increased their revenue to $14 million last year from initial sales of roughly $900,000 in 2013.

     

    About Toolots

    Toolots, headquartered in Cerritos, California, offers an online marketplace and international distribution channel for factory-direct industrial tools, machinery, and manufacturing technology. Our user-friendly platform provides fast, easy access to high-quality, affordable equipment for manufacturers. More than a simple distribution channel, Toolots provides comprehensive services for companies around the world who produce the industrial machinery and equipment we sell, helping streamline the marketing, omni-channel sales, warehousing, fulfillment and after-sales service. On the customer end, Toolots simplifies the purchase, delivery, installation and warranty of industrial technology, machinery and components, and upholds product quality through a vetted network of vendors and service technicians. The company’s dedication to fostering international trade relations passes on cost savings to the consumer, contributes to reduced downtime, improves productivity and expands a manufacturer’s reach. Toolots has strategically located warehouses, showrooms, and offices across the United States, China and as of May 2017, has expanded into Taiwan. For more information visit us online at www.toolots.com.

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  • Toolots Announces $1 Million Lifetime Sales Milestone 

    CERRITOS, California- October 11, 2017- Toolots, an online marketplace and international cross-border platform for factory-direct industrial tools, machinery, equipment, and technology, announced it recently achieved $1 million in lifetime sales.  

    Headquartered in Cerritos California, the company was originally founded in May 2016 by CEO Jason Fu, who has 17 years of industry experience through his machinery supply company Bolton Tools. Through its innovative platform, Toolots aims to bolster the global manufacturing industry by helping SMEs overcome barriers, expand their businesses, and generate more revenue. 

    This is accomplished through Toolots' scalable, comprehensive services and ERP system currently being finalized. Vendors who partner with the company maintain their branding rights usually lost in traditional distribution models. In addition, vendor partners gain access to data allowing them to make transparent decisions and focus on daily operation tasks or overall business growth. Essentially, Toolots' model offers its customers quality equipment at competitive prices, thereby manufacturing SMEs to focus these funds on additional employees or services. Furthermore, the issue of after-sales services for purchased machinery and equipment, which often serves as a major concern to customers, is resolved through the company's network of service technicians on its YuuTool  repair app. 

    With the achievement of $1 million in lifetime sales, Toolots strives to support SMEs to strengthen cross-border relations and aid in the growth of the global manufacturing industry. 

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  • Toolots Hires New IT Manager to Revitalize the Company's Technology Infrastructure

    Streamlining and creating processes to increase productivity and efficiency throughout the company 

    CERRITOS, California- October 3, 2017- Toolots, an online marketplace and international distribution channel for factory-direct industrial tools, machinery, equipment, and technology, recently announced the expansion of their technology department through the hiring of Manny Aparicio as the company's new IT Manager last month.  

    "Everything IT, [and essentially] anything that plugs into a wall, I want to help with" Aparicio stated when discussing his personal ambitions for the role. 

    Aparicio joins the company with over 10 years of industry experience in various IT management roles including his previous role, where he was responsible for overseeing the Managed Service Provider (MSP) for a startup company in Los Angeles. When asked about his perceptions about the company, Aparicio stated he saw Toolots as an interesting, technologically involved company looking to improve its own processes, as well as those for its partnered vendors. He elaborated by stating he was impressed by the company's dedication and growth, and looked forward to helping the company make a bigger impact in the industry through the creation of streamlined processes. 

    "Streamlining the processes are key for production. I'm like a highway worker clearing out the lags and debris to make the road clean and solid for us to use," Aparicio said. 

    As the new IT Manager for Toolots, Aparicio will be responsible for implementing and maintaining the company's technology infrastructure while working with the current CTO William Andreozzi and his team. Moreover, he will be responsible for researching new technology that may assist in improving productivity and organization when implemented. As of now, Aparicio is auditing the company's current systems and assessing their outcomes to identify areas that are inefficient and can be improved. He stated that the goal of the audit is to assess what needs to be completed overall, while also determining what should be finalized by the end of the year. Aparicio described it as establishing "...what needs to be in place, [and] what makes sense for everyone" to standardize the essentials without overly complicating the processes for employees and merchants. 

    "I want to establish processes, standardization, and foundation throughout all levels of the company to make everyone's job easier and more efficient," Aparicio summarized. He elaborated by stating that the core function of an IT department is to ensure the company has access to the proper tools and resources for daily operation in addition to overseeing the security of data, backup systems, and network. Aparicio concluded that standardizing processes across the board would create simplified, clear cut ways for employees to do their job without creating excess work. 

    "My objective is to foster and help growth, whether its creating processes or consolidating servers, I really want to use my experience to help the company grow," Aparicio stated. 

    Infact, Aparicio cited the potential for growth and creation as two of the main draws that attracted him to Toolots. He explained the opportunity to build systems and processes from the ground up, in addition to the team oriented environment, was extremely special. Furthermore, with Toolots's international growth, the pending completion of its ERP systems, and the daily onboarding of merchants on the platform, Aparicio stated that he could see the department growing with the company in the future. 

     

    About Toolots  

    Toolots, headquartered in Cerritos, California, offers an online marketplace and international distribution channel for factory-direct industrial tools, machinery, and manufacturing technology. Our user-friendly platform provides fast, easy access to high-quality, affordable equipment for manufacturers. More than a simple distribution channel, Toolots provides comprehensive services for companies around the world who produce the industrial machinery and equipment we sell, helping streamline the marketing, omni-channel sales, warehousing, fulfillment and after-sales service. On the customer end, Toolots simplifies the purchase, delivery, installation and warranty of industrial technology, machinery and components, and upholds product quality through a vetted network of vendors and service technicians. The company’s dedication to fostering international trade relations passes on cost savings to the consumer, contributes to reduced downtime, improves productivity and expands a manufacturer’s reach. Toolots has strategically located warehouses, showrooms, and offices across the United States, China and as of May 2017, has expanded into Taiwan. For more information visit us online at www.toolots.com.  

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  • Toolots Further Discusses Industrial E-Commerce Opportunities With Top Jilin Officials and Manufacturing Executives 

    CHANGCHUN, Jilin-September 22, 2017- Toolots CEO Jason Fu and board member Dr. Peter Wei attended a business roundtable Wednesday in Jilin Province to discuss how Toolots can play a role in creating export opportunities for Jilin's industrial equipment manufacturers.  

    Toolots attends a business roundtable with top industrial supply business leaders in Jilin.

    Director of the European and American Affairs Office of Jilin Province Liu Zhijian speaks at the exchange.

    Toolots CEO Jason Fu describes the company's business model at the exchange.

    The exchange featured a panel of 18 manufacturing executives, including several top industrial supply companies in Jilin. Several heads of the Jilin Provincial Government were also in attendance, including Liu Zhijian, the Director of European and American Affairs Office of Jilin Province. Changchun City Foreign Affairs Office Deputy Director Ou Shuo, Changchun Bureau of Commerce International Market Development Director Suo Tie, Deputy Director Jiang Xutang, Siping City Economic and Trade Bureau deputy director Liu Dongyu were among the officials in attendance.  

    The 18 top manufacturing executives represented companies producing a wide range of industrial products, including automobile manufacturing, transformers, industrial automation, valves, power generation equipment, and other equipment. 

    Toolots was given the opportunity to speak about its business model and how its platform makes it possible for industrial equipment SMEs in Jilin to become export-ready, particularly as US manufacturing heats up and its demand for equipment grows. 

    "Toolots coming to Jilin is a win-win situation," said the Changchun Deputy Director of Foreign Affairs during the roundtable discussion. "It is always our goal to facilitate and build bridges when it comes to global trade, so we will do everything we can to support Toolots in helping Changchun industry explore export opportunities."  

    Deputy Director of Foreign Affairs Office of Changchun City Ou Shuo speaks at the exchange.

    After Toolots spoke about their platform, the Siping Economic Cooperation Bureau said that he was optimistic about the company's impact on industrial exports, and looked forward to spreading the word.  

    Deputy Director of Changchun Bureau of Industry and Information Technology Jian Xutong also expressed his full support of Toolots's business model, noting an interest in helping bring more companies onboard.  

    "The U.S. is bringing back manufacturing to the States, but Toolots has turned this trend into opportunity. China's industrial industry has accumulated a degree of excess capacity, yet there is a prevailing lack of know-how in terms of how to export it to U.S. manufacturers. Fortunately, this is precisely Toolots's area of expertise."  

    Deputy Director of Changchun Bureau of Industry and Information Technology speaks at the exchange.

    Toolots CEO Jason Fu spoke about Toolots's plans for the future:

    "Before October of next year, we will have onboarded 300 industrial equipment companies which will serve as business model validation, showing investors, local governments, and business leaders our platform's potential for incredible growth." 

    Toolots CEO Jason Fu speaks at the exchange.

    A Chinese translated version of this article can be found here.

  • Announcing New Toolots Vendor: May Tool, Inc.

    Toolots is excited to announce the addition of  a new vendor, May Tool, Inc., to our E-Commerce marketplace and Global Commerce Services initiative! Based in Los Angeles, California, May Tool specializes in blacksmithing tools for the metalworking and construction industries. May Tool’s products are currently available on Toolots.com for sale to customers located domestically in the U.S. and internationally in China.

    Family owned and operated since 1958, May Tool has over 50 years of experience manufacturing fundamental tools often used in paving, construction, demolition, and more. To ensure the quality of their products, May Tool also provides air tool repair and steel sharpening services with one week turn around. These services include free pickup and delivery to job sites or equipment yards for convenience, allowing customers to focus on getting their job or projects done.

    May Tool's 42" Circle Shear Machine is Made in the USA and equipped with back gauge for help positioning work.

    In addition, May Tool’s in-house shop includes several mills and lathes enabling their experienced machinists to perform custom machining and fabrication. May Tool is committed to providing quality products to fulfill each company or customer’s unique tooling and machinery needs.

    Toolots is proud to offer our domestic and international customers quality metalworking and construction tools through the inclusion of May Tool! For purchasing information, visit May Tool, Inc.’s marketplace on Toolots.com.

  • Announcing New Toolots Vendor: Helmel Engineering Products, Inc.

    Toolots is happy to announce the addition of a new vendor, Helmel Engineering Products, Inc., to our E-Commerce marketplace and Global Commerce Services initiative. Based in Niagara Falls, New York with an office in Anaheim, Calif., Helmel Engineering designs, manufactures, sells, and services coordinate measuring machines (CMMs) and software for use in the automotive, aerospace, and general manufacturing industries. Helmel’s products are currently available on Toolots.com for sale to customers located domestically in the U.S. and internationally in China.

    Originally founded in 1973 as Helmel Engineering Co in Rochester, New York, the company assisted in the design of General Motors automatic assembly lines, and completed machine customization for large printing companies such as Xerox and Kodak (Helmel). Now Helmel’s CMMs are built using a proprietary mechanical bearing system which is extremely useful for design and production applications requiring a high level of reliability. Furthermore, Helmel specializes in surface grinding straightness which increases consistency and allows the company to build CMMs with higher levels of accuracy. To optimize the precision and proper use of their machines, Helmel uses lasers to calibrate machines before shipment, and sends in-house technicians and engineers to perform machine installation and product training.

    Toolots is excited to offer our domestic and international customers quality CMMs and software through the inclusion of Helmel Engineering. For purchasing information, visit Helmel Engineering Product, Inc.’s marketplace on Toolots.com.

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  • Vendor Spotlight: Atosa Catering Equipment, Inc.

    Atosa Catering Equipment President Michael Shao said his company's product quality and emphasis on service sets them apart from competitors.

    BREA, Calif. – July 3, 2017 – Atosa Catering Equipment, Inc., a leading provider of commercial refrigeration, gas equipment, food warmers and smallwares, didn’t start out as a global business. But by focusing on providing excellent customer service, reliable equipment at aggressively competitive prices, and by funding research and development to enable product innovation, Atosa Catering has established a wide ranging customer base that has allowed them to extend sales to more than 100 countries so far.

    Founded in 2003 and based in Hangzhou, China, the family-owned company now led by President Michael Shao started small. Ten years after it was founded, Atosa expanded its sales into the United States marketplace. Today, Atosa Catering Equipment now has 12 facilities stretched across the United States, all staffed with in-house technicians to provide after-sales service – an aspect of the business model Atosa leadership takes seriously.

    Atosa first expanded its reach into the U.S. market four years ago, and now utilizes a network of authorized distributors to get its efficient and long-lasting refrigeration equipment in the hands of American commercial consumers, including on Toolots.com through a distribution agreement with Toolots’ sister company, Bolton Tools. Shao said customers have relayed that the quality of Atosa products greatly exceeds their expectations and that their extensive service network, with technicians available in 12 states and on-demand across the country, help ensure long-term sales into the future.

    “Nobody in this industry has this kind of service,” he said. “Customers tell us they’re extremely happy with my company’s products and service. The American saying goes ‘you get what you pay for,’ but with Atosa Catering Equipment, you get more than you pay for.”

    As a testament to the company’s emphasis on excellent service, the entire Atosa USA sales team has visited the company’s factory in Hangzhou, as part of an educational trip to help them become more familiar with not only the products, but the people and the technology behind them.

    One of many Atosa products perfect for commercial and industrial applications is the bottom mount three-door refrigerator - promising not only energy cost savings but also reliability, competitive affordability and longevity.

    “They were impressed by our China facility and were amazed at how much automation is available. The experience makes them more confident selling on the U.S. market,” Shao said.

    Since Atosa products hit the Toolots Merchant Center in May through the Bolton Tools agreement, sales of the global company’s products have increased, as have inquiries from new customers looking for durable yet cost-effective commercial refrigeration units.

    Speaking of Toolots Founder and Chief Executive Officer Jason Fu, whom Shao has developed an effective business relationship with since, he said, “Jason is a visionary businessman. What he is doing with Toolots is inspiring.”

    “With the help of Toolots, we’ll be penetrating markets we didn’t expect to be in,” Shao added.

    When asked what sets apart Atosa products from its competition, the company president said heavy, longstanding investments in research and development, striving for increased energy efficiency and durability, are a top priority. The company does not cut corners, but strives to serve as a responsible ambassador of what the best of Chinese manufacturing can truly accomplish.

    “You have to invest heavily in R&D. Your quality cannot be dropped,” Shao said. “You need to keep investing to do everything you can to defend your brand, your reputation. Conquer the problems in order to make your product better and better.”

    One of the challenges faced by many foreign companies considering entering the U.S. market, Atosa included, are the shifting legal standards, import restrictions, labor laws and many others. With Toolots’ help, Atosa has access to logistical, capital and other types of support that makes the manufacturer’s job easier.

    “Toolots allows them to focus on product development, education and guiding them to comply with U.S. laws and standards,” Shao said.

    Shao added he believes himself to be an ambassador for the Chinese manufacturing industry, taking pride in the heavy investments into research and development to make his company’s products more efficient year after year and of increasingly high quality. Additionally, an emphasis on growing the company’s service team, both from a customer service and technical perspective, has helped grow Atosa’s reputation, Shao said.

    Looking ahead, the Atosa Catering Equipment president added, “I am excited about the future of Atosa. I have great faith in Toolots. It has great leadership and a professional team. It’s an excellent platform for Chinese manufacturers to enter the U.S. marketplace."

    Atosa Catering Equipment Inc., products are currently available on Toolots.com and are distributed through Bolton Tools. For additional information, visit Toolots.com or contact our Customer Service Representatives at (844) 866-5687.

  • Toolots Founder Delivers State of the Company Address

    Founder of Growing Platform, Toolots.com, Aims to Revolutionize Industrial Equipment Market

    Toolots Founder Jason Fu addresses his employees in the 2017 State of the Company Address.

    CERRITOS, Calif. - May 22, 2017 - Toolots Founder Jason Fu is building much more than his business, a full-service online marketplace based in Southern California that fuels the global manufacturing industry. The early veteran of industrial eCommerce and chief executive officer said he is building an “ecosystem” with Toolots – a platform to revolutionize the eCommerce marketplace for industrial machinery, equipment, and technology.

    In remarks to all Toolots employees as part of his State of Company Address Friday, Fu outlined this message, envisioning the future of the company he formally launched in May 2016. The chief executive for Cerritos-based Toolots described his own personal journey as a business owner – the lessons learned, the ground gained, and effective strategies to push the enterprise far beyond a simple distributor of the tools of the manufacturing trade.

    Fu, also Chief Executive Officer for Toolots, outlines the fiscal growth of the company he launched in May 2016.

    With plans to streamline the current business model and develop nationwide brand recognition as the company’s international footprint expands, Fu pointed to recent growth in Asia, citing the establishment of Toolots Taiwan last month. The company has two additional facilities in China, located in Hangzhou and Ningbo, as well as a distribution center in Houston, Texas. But the growth isn’t limited to the physical realm. As part of the flourishing Toolots supplier network, Fu reported that more than 120 businesses from the United States and China have partnered with the California company to sell their industrial products – both domestically and internationally – on Toolots.com.

    “We are adding a lot of new products on a daily basis,” Fu said. “We are moving along very fast.”

    Providing genuine customer service is one of the most important components in any successful business, Fu said. As an immigrant from China who followed his dream of building businesses in the United States and becoming a U.S. citizen, the Toolots chief executive learned English, striving to be able to more effectively communicate.

    In his first State of the Company Address, the Toolots founder spoke directly to all his employees and outlined the company's expansion plans.

    When Fu arrived to the U.S. in 1996, he was motivated by his dream to open an online marketplace for industrial equipment. More broadly, he yearned to bridge the gap between U.S. and Chinese equipment manufacturers, fostering improved relations between both countries, he said. The language barrier leads to lots of dollars lost for companies, he said, and it demonstrates the need for clear communication – not only with customers and potential customers, but also employees and colleagues within the industry from around the world.

    “For us new immigrants, we hit the same roadblocks, but we all succeed when we try,” Fu said.

    The industrial space has additional roadblocks, the chief executive pointed out. Some customers are uncomfortable purchasing heavy machinery online, without the ability to see it in person, and are more accustomed to the traditional distributor model complete with segmented territories. Toolots changes that; the Cerritos showroom includes some of the most popular online items, and new machinery or stock is proudly displayed for walk-in customers, in addition to high-quality photos and videos of many products posted on Toolots.com.

    Toolots engineers install a robotic device on a plastic injection molding machine to greatly speed up production.

    Another roadblock for the industrial equipment industry, particularly eCommerce businesses, is providing effective warranty protection, service and maintenance to online customers in a simple way.

    “After-sales service is the biggest barrier for industrial supply” Fu said. With the release of its companion smartphone application YuuTool, Toolots is redesigning how online marketplaces provide after-sales services to customers. By connecting users of industrial machinery with qualified service technicians, in a similar manner to the way Uber connects those in need of a driver with a quick, affordable ride, YuuTool brings people together. This focus on service distinguishes Toolots from its competitors and other providers of industrial equipment, Fu said.

    “We’re providing big services through YuuTool. It’s all within the Toolots ecosystem, where everything has value,” he said.

    Toolots Chief Strategy Officer ZeMing Gao speaks to the company's employees May 19 during a companywide address.

    “The Toolots business model is revolutionary,” added Toolots Chief Strategy Officer ZeMing Gao, stressing how Fu intelligently constructed a vertical business that can be easily scaled to other horizontal markets.

    A business only succeeds with its employees, Fu pointed out. Addressing all Toolots employees in a video broadcast in Mandarin and English, the chief executive said, “You are all part of the foundation, what we build upon. It is on this foundation that we are constructing a building, one that went from zero to something that will bloom.”

    It is vital that each department within Toolots has a “good foundation,” he added, and strives to continually inject fresh vision through the hiring of powerful leaders.

    “New blood is bringing big experience, and this will help us in ongoing efforts to continue building a great team,” Fu said. In the coming weeks, Toolots will have significant announcements about new executives joining the enterprise. Those announcements will be released soon.

    Fu pivoted from discussion of Toolots, its business model and its growth to Alibaba, an eCommerce firm that has grown exponentially in recent years. Alibaba started as a simple directory of information, similar to Yellow Pages, to help manufacturers find and locate new suppliers. What began as a simple online platform created by Chinese national Jack Ma to provide an online marketplace of suppliers has evolved to become a behemoth as the world’s largest retailer, even surpassing Walmart in domination of the marketplace, according U.S. Securities and Exchange Commission filings in 2016. As of 2014, Alibaba had a market value of more than $231 billion.

    Explaining that the key to Alibaba’s success was creating a platform to connect businesses worldwide and fulfill their needs, Gao suggested that Toolots is on track to one day become an influencer in the global trade environment.
    “You want your platform to be so essential that you can’t imagine what life or business would be like without it,” Gao said, stressing the need to offer something completely original from your competitors. He is confident Toolots is that platform.

  • Advanced Manufacturing Webinar: Exploring Conditions in China and How Toolots Can Help U.S. Companies Break Into the Market

    To sign up for Toolots' free webinar for manufacturers on May 19, please RSVP via email to cfoy@toolots.com

    Toolots engineers install a robotic device on a plastic injection molding machine to greatly speed up production.

    CERRITOS, Calif. – May 15, 2017 – Toolots, Inc., a Southern California-based online marketplace for the latest industrial equipment, machinery and technology, invites interested biomedical and advanced manufacturing companies to join a no-cost educational webinar on the market conditions and outlook for original American products in mainland China. The webinar takes place Friday, May 19 at 1 p.m.

    As the company’s US-China Medical Device Summit approaches, taking place June 28-30, in Ningbo, China, the Cerritos-based company invites any interested firms, executives and representatives to participate in the second webinar in the series. Attendees will discover on the ground conditions in China, and learn how the online marketplace and the comprehensive services offered to Toolots partners can give companies a leg up in the market for innovative medical products. During the seminar, you will learn about the growing demand for US-manufactured medical devices, how much more Chinese customers are willing to pay for foreign-made health products, devices and advanced technology, and hear how your company can gain by attending the US-China Medical Device Summit next month.

    The US-China Medical Device Summit will be hosted by the leading national trade association in China for medical devices and biomedical products, and is co-hosted by Toolots. Toolots invites your participation Friday in our no-cost online seminar to learn more. To sign up for the webinar or for additional information, please contact Toolots Director of Public Affairs Chris Foy at cfoy@toolots.com. Private consultations are also available to explore how Toolots can help your company break into the lucrative Chinese market and elsewhere in the region, where Toolots has a growing international footprint.

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