An app that allows buyers to choose cattle and sheep for sale nearby has reached 1000 downloads by producers and graziers in Australia.
The app – STOCKD – developed through funding at Ray White Rural and Livestock, with the company’s head of innovation Lyndsey Douglas at the helm, aggregates cattle and sheep for sale.
“STOCKD is a simple-to-use app that allows livestock agents to mass-market their livestock listings to a broader audience than conventional quoting. It’s quicker than blasting an email to a database, and more timely than placing a classified in a weekly newspaper.”
“Comparing the user-experiences in property sales and livestock we discovered disparities; namely technology, efficiencies and transparency. There are digital advantages for agents, buyers and sellers in property marketing that could easily be replicated in the livestock sector,” Ms Douglas said.
“It’s a central marketplace, in its infancy, for buyers to see cattle and sheep available for sale near them, and a way for agents to amplify their quoting process to more buyers, creating greater competition and better price outcomes for their vendors.”
“None of the traditional methods of marketing livestock allow the buyer to see the entire market, or the agent to easily find buyers he or she doesn’t already directly know.”
Future improvements include video capabilities allowing the agent to record their comments about the quality of the pen from the paddock, voice-to-text, Uber-style freight booking, and pre-approved financing of the transaction.
“The key benefit for vendors is broader marketing of their livestock, not limited to the number of prospective buyers the agent knows and calls, and therefore greater price competition for the lot.”
“The key benefit for buyers is the ability to choose preferences like location, breed, and number of head, and in the future receive timely notifications to alert them similar lots for sale.”
The app is in market today, with over 200 listings having been loaded by agents and 1000 downloads. It has been rolled out to the Ray White Livestock network where agents are using it both actively (loading direct from the paddock) and passively (via a direct feed from AuctionsPlus, an online saleyard).
“The challenge of implementing change in a such a traditional industry is not lost on us but STOCKD can bring significant benefits to the key players in the restocking supply chain and that gives us determination to persevere,” Ms Douglas concluded.