How retailers are using marketplaces to double their range and unlock double-digit revenue growth
Summary Of The Content
Online eCommerce is having a moment as organisations deploy strategies to emerge stronger and aim to increase market share post-pandemic. Indeed, while digital business has exploded since 2020, it’s also crossed a threshold from being an evolving sales channel to becoming the prime – and sometimes only – channel to stay selling and keep retail trade alive.
For bricks-and-mortar retailers, eCommerce now contributes a much bigger slice of total
revenue than it did just two years ago. For digital-only players, the addressable market has grown substantially as online shopping has become the default.
But retail remains a challenging space. It is traditionally capital intensive and relies on correctly reading the market and making or sourcing products that people want, at a quantity and price the market can bear.
Top-performing retailers recognise these challenges. Their answer? Set up a marketplace that seamlessly integrates with their existing eCommerce site for a unified experience, or that powers a standalone separate channel for growth.