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Speaking from experience: The Quilted Bear

The Quilted Bear supplies a comprehensive range of craft lamps and magnifiers, as well as a wide selection of patchwork, quilting and craft accessories. They strive to give their customers high quality products at a competitive price.

Can you tell us a bit about the background of your business?

The Quilted Bear has been in operation for over 20 years. Initially the business exhibited and sold at specialist craft shows around the UK. Since then we have developed into an online business. We still attend regular exhibitions, but our products are now bought through our Amazon store by people all over the world – from the UK to Indonesia.

What made you decide to start selling overseas?

There were three main factors that helped us to make the decision to expand internationally. Firstly, it’s important to be seen by as many customers as possible – entering the European market allowed us to more than double the number of potential customers we could deliver to.

Secondly, the UK market is somewhat saturated and as a result pricing is very competitive. We found that overseas we were able to price our products more competitively – this was especially the case when we first moved into Europe, as the euro was much stronger at the time.

And thirdly, part of our success is down to the fact that we can provide such a wide range of products that our customers overseas are not able to source locally – there is a lot of demand coming from foreign markets.

What have been some of your biggest business challenges?

When starting the online business there were a lot of steep learning curves, and we haven’t always been successful, but we’ve never given up! We have used lots of different platforms and experimented to see what works best for our store. Expanding overseas was the key to making The Quilted Bear a success online, and the international Amazon sites allowed us to expand quickly into foreign markets and maximise sales.

How did you hear about Currencies Direct?

When I started to sell internationally with Amazon I wasn’t impressed with the rate of exchange I received when my foreign sales were converted back into Sterling. I contacted Amazon directly and they recommended Currencies Direct as a solution. Now we have e-tailer Collection Accounts located in Europe and the US, and Currencies Direct convert our sales at a better rate.

What do you think about the service you receive from Currencies Direct?

The personal service I receive from my dealer Manan is one of the biggest advantages to using Currencies Direct. He does everything a good bank manager should do and looks after the interests of my business – saving us time and money. Manan actively calls me to keep me informed of currency movements that would affect our business profits.

Over the years we've developed a relationship and now when I wish to make a transfer I know that it will be taken care of exactly the way I want. Knowing this gives me peace of mind and allows me to focus on the areas of the business that are most important.

Would you recommend Currencies Direct to a friend?

I would, and I do recommend Currencies Direct to anyone who is selling on international marketplaces. I’m highly satisfied with their service and I know I have got a partner to rely on.

Gadi Davidowitz, Company Director

Do you have a story like The Quilted Bear's? We'll share your online seller success stories with other e-tailers on our Knowledge Hub.

Is there something you’d do differently if you were to start a new business? Or a brilliant pearl of wisdom that experience has taught you? Get in touch and your business could be featured in a future article!

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