With the news that Amazon will acquire Wholefoods for $13.7 billion, industry pundits are weighing in on why the eCommerce giant would buy a chain of grocery stores. The theories are wide ranging:
Mirakl is proud to be sponsoring B2B Online because we firmly believe that every B2B company can benefit from a marketplace. Whether you are a manufacturer wanting to convert site visitors without upsetting your channel, or a distributor needing long-tail assortment and 100% inventory visibility across both internal divisions and external suppliers, a marketplace is the right solution for you. Come check out Mirakl at booth #304!
Earlier this month, a colleague asked me what I was most excited about regarding the upcoming Marketplace Summit by Mirakl. I have been heads-down on planning and coordinating that it seems I hadn’t had a chance to really step back and look at the event as a whole and take in all of the topics that will be hit on. Viewing the full agenda makes me realize just how ambitious this event is. Not only will we examine the strategic nature of the marketplace model and how it powers some of the world’s most successful platform businesses, but we will also highlight the operational benefits that Mirakl customers gain from their marketplaces. The summit is a chance to learn not only why businesses should launch marketplaces, but how they should do it. This event is a “must-attend” show because, as one of our expert panelists – Marc Vicente of Cdiscount – said, “marketplace is not some trendy, fancy project – it is the next generation of eCommerce.”
Let’s face it: Amazon Business is crushing it. Whether it be doing over $1 Billion in revenue in its first year of operation, or winning a $5.5 Billion public sector contract, Amazon is setting the standard for B2B procurement in the same way it did for B2C procurement.
Manufacturers contributed $2.17 trillion to the U.S. economy in 2015, according to the National Association of Manufacturers. With consistent growth, this sector is heralded as a major source of jobs, and economic development. But, many manufacturing firms and B2B distributors are faced with changes in the very fabric of how they do business - the way in which customers buy.
Gartner recently released the report What’s Hot in Digital Commerce in 2017* and it outlines many things merchants are doing to offer better customer experiences. Gartner analysts talk to a huge number of brands, manufacturers, retailers, distributors, wholesalers, and eCommerce professionals and have finger on the pulse of what kinds of projects are taking priority in digital commerce.
Running online promotions can be a powerful way to boost sales. Having a Marketplace where 3rd party sellers can offer promotions to your customers will increase sales even further. Not only are online sales sensitive to pricing, but a Marketplace is unburdened by the constraints of retail. Without worrying about inventory stock, or the pressure of profitability, you can run Marketplace deals, sales, and marketing campaigns that drive real impact - surprisingly significant impact. The first time a Mirakl customer in the fashion space applied promotions on Marketplace products using the strategies outlined below, they realized a 272% growth in month over month sales revenue.
What would encourage one of your customers to switch brands?
On every retailer’s to-do list in 2017 is surely a series of technology initiatives meant to improve efficiency, maximize opportunity, and ultimately grow revenue.
In a time when brick and mortar retailers are seeking new ways to attract new customers, and create loyalty among existing shoppers, the concept of a Marketplace has emerged as an ideal way to optimize a business’s cross-channel strategy.