Online marketplaces have been a significant trend in retail for over a decade. Three of the world’s biggest e-commerce firms – Amazon, eBay and Alibaba – are all based on marketplace platforms. Many brick-and-mortar retailers have launched their online marketplace, attracted by the value proposition of increased product choice, competitive pricing and a superior customer experience, without the restraints of inventory and logistics. The National Retail Federation’s “State of Retailing Online 2015 report” notes that thirty-two percent of retailers planned to spend more on online marketplaces in 2015 vs 2014, as online marketplaces play a prominent role in customer acquisition.
Embracing the Shared Marketplace Economy: How Tech Vendors Are Changing the Face of Retail
The multi-billion dollar Uber and Airbnb entities are running the always-in-the-headlines, oh-so-sexy shared economy we’re seeing today, and they have tapped into a secret, scrumptious sauce that has consumers renting out their living rooms and sharing rides around town, producing revenues worthy of the Three Comma Club. But that secret sauce isn’t so secret anymore, and the on-demand tendencies of society today have bled into virtually every major consumer-focused industry. If you’ve been paying attention to ecommerce starlet Jet.com lately, you’ll know why online marketplaces (no, Amazon and eBay are not the only ones!) have the power to turn the online retail model as we know it on its head.
Why B2B Sellers should consider marketplace according to Adrien Nussenbaum
As business buyers spend more online, B2B sellers face pressure to give them more of what they want in a single online destination. One option for sellers is to turn their websites into online malls.
The Auchan Marketplace project: an example of digital transformation of an historic retailer
Customer service: one of the pilar of online marketplaces success
Customer service is an indisputably important factor when it comes to online retail. Good customer service can be the greatest sales asset a retailer can have, encouraging loyalty and word-of-mouth recommendations. But bad customer service cannot only see a particular sale lost in an instant, but long-term irreparable damage done to the brand.