NEWTECHSTORE.EU – AN INSPIRATIONAL SUCCESS STORY

NEWTECHSTORE.EU – AN INSPIRATIONAL SUCCESS STORY

I never thought of becoming a start-up founder in my 20s or 30s. However, I dared to take a leap of faith in my late 40s when Silicon Valley entrepreneurs got ready for a successful exit. Although I have studied video game programming and was always intrigued by new technologies, innovative products, high-tech gadgets, and systems that make our lives easier, I had played it safe in my life. 

In 2017, all this changed while I searched for various new technology products. It took me countless hours to find only half of the products I was looking for. Therefore, I decided to turn my frustration into innovation, nothing radical or too far-fetched.  My simple, innovative idea was: “Why not to gather all new technology products on a single website to help people find what they are searching for easily?” Newtechstore.eu was founded with the purpose of fulfilling the needs of people interested in innovative new technologies but don’t have the time to look for them.

I didn’t need much capital. I required less than 1,000 euros to create my website, Newtechstore.eu, and buy a few items as stock. Initially, my company sold small but innovative technology products, like flying fairies with infrared control, NFC rings connected with smartphones, Bluetooth gloves, and robot toys. Although the budget for promoting my website was not more than 100 euros per month, people who visited my website showed great interest in new technology products. Most were buying my products, which motivated me to move one step forward! I introduced more expensive new technology products like Smart Vehicles, Levitating Objects, and Artificial Intelligent Robots, and new technology systems like Holograms & Digital Signage, Professional Drones, Smart homes, and Green Technologies.

Two years later, Newtechstore.eu started to install new technology systems. This was a great accomplishment, and we were grateful for the opportunity. We started to install interactive systems on playgrounds, smart windows films in big shops, and LED Curtains in Pharmacies. In 2022, we expanded our clientele and customers beyond what we could have dreamed. We cater to construction companies, restaurants, playgrounds, traders, hotels, janitorial cleaning service providers, and exhibition centers. We have managed to assume works from the government of Greece like 3d Mapping of the Parliament of Greece, Interactive Tennis in the International Exhibition of Thessaloniki, and 3d Mapping at the Ancient Tower of Oinoi (Central Greece).

Companies that produce new technology products and systems contacted our company to add their products to our website and promote them to our clients. These companies include some from China and Europe like AEKLYS from France, Botanium from Sweden, and Esmovil from Spain, among others. Through these 5 years, Newtechstore.eu also got multiple offers from global platforms to upload our products to their platforms and supply them to other retailers. Considering all offers and their contribution to the potential success of my company, I have chosen to cooperate as a Supplier with the Appscenic platform, which has over 40,000 retailers worldwide.

Although we started with one warehouse in Greece, the success of Newtechstore.eu throughout these years allowed us to expand our warehouses to Hungary, Poland, France, Germany, and Spain. Newtechstore.eu has come a long way. When the website was first created in 2017, it had less than 100 products and not more than 10 categories. Our website has expanded significantly and currently contains over 1,500 products and almost 70 categories of products and systems. The website is translated into 5 languages: English, French, Spanish, Italian, and Greek, to attract the global market. We have received the Trustmark of the German company Trusted Shops, and we insure purchases up to 2,500 euros. Therefore, our customers can complete their purchase without hesitation or fear that they will lose their money or the products will not be delivered.

We also ensure that our customers enjoy amazing online retail and wholesale service through our rich content and user‐friendly website. We source most of our products directly from Manufacturers and Distributors. As a result, our e-shop can offer product warranty and the best prices. We aim to offer convenient online and in-person payment options and comprehensive customer services. Every New Tech Store customer is equally important and unique to us. Striving to always improve our service, we have also upgraded our nationwide logistic platform to include a last-mile delivery network in conjunction with leading courier companies. This ensures swift and efficient delivery to our customers. As a technology-driven company, we have invested heavily in developing a highly scalable proprietary technology platform, which supports our rapid growth and enables us to provide value-added technology services. Our team of professionals understands the customers’ needs, and we strive to fulfill these needs timely.

Our work has not been easy, and we have faced challenges throughout these years. One of the biggest challenges was Covid-19 in the year 2019. Clients became wary if they should proceed with new projects since the market faced many difficulties. There were no new events and few investments in 2020 and 2021. This year we are facing new challenges. The war in Ukraine and the energy crisis have affected the cost of petroleum and consequently, the shipping costs of all products have risen. This has inevitably led to an increase in our products’ prices. However, Newtechstore.eu is committed to make it through these difficult times. “Necessity is the mother of invention,” and our dedicated team always thinks of changes to meet the market urgency.

Currently, we are keeping an eye on new opportunities brought by the many new products and systems developed daily that can satisfy the needs of all customers. Fortunately, the market for new technology products is expanding, and the new opportunities open our company to new and innovative technology products. We are confident that we have earned our customers’ trust, and they will continue to support our new products that can make their lives easier or more entertaining.

Our vision is to expand a New Tech Store branding in all European countries and US states. Through the right choice of the local distribution channels mix, our vision is feasible. We also aim to remain a leader in affordable wholesale and retails of quality new technology products. That will broaden our customers’ reach and ensure constant sales dynamics through multiple collection themes per year.

Through this expansion, our main goal is to convince people with innovative ideas for new technology products to join our new technology community. Our company’s website is the most suitable to help producers promote their products and help them receive funding from investors to implement their ideas. We want our company to host various new technology ideas and to help inventors realize their ideas with the help of crowdfunding platforms.

To anyone who wants to start something innovative, you can do anything if you stick to it long enough. When nothing goes right, try again until you succeed. If you have no capital, remember the history of WhatsApp’s founder Jan Koum whose mobile managing app sold for a staggering 19 billion in 2014. From a household on the outskirts of a small village in Kiev where his family struggled to make ends meet, he had big dreams. When he migrated to the US, he got a job at a young age as an infrastructure engineer at Yahoo and got his first iPhone in 2009. The difference is that he didn’t only use it but quickly realized the amazing possibilities of the app industry. If you don’t have the finances to start big, you can propel yourselves beyond the impossible. All you need is wits, the sheer force of will, creative thinking, and maybe a little luck!

Our company started with a budget of only 1,000 euros and in 5 years has managed to retain 6 warehouses, list more than 1,500 products, handle big installations (from big companies and governments of countries) and is listed in platforms of wholesale suppliers!

DON’T BE AFRAID TO DREAM BIG! But remember, go out there and take calculated risks. All businesses have risks.  

Mental health expert
MS, University of Latvia

I am deeply convinced that each patient needs a unique, individual approach. Therefore, I use different psychotherapy methods in my work. During my studies, I discovered an in-depth interest in people as a whole and the belief in the inseparability of mind and body, and the importance of emotional health in physical health. In my spare time, I enjoy reading (a big fan of thrillers) and going on hikes.

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