How Brands Can Keep Or Catch Digital Marketplace Momentum

You can use the Digital Marketplace to find technology services and specialists for digital projects Digital marketplaces have migrated from media and entertainment, and retail and are more and more present in the business-to-business area, such as transport, logistics, manufacturing, energy and utilities. It’s a natural progression of these marketplaces through these various industries, a continuum. Rather than seeking to displace established players in the B2C space, we are looking at those industries where marketplaces will play a significant factor. Many legacy industries have a vested interest in maintaining the status quo.

Digital Marketplace Strategies And Mantras To Live By

These rich interactions, facilitated by a great product UX, can retain multiple players and generate a rich stream of transactions. It’s still early years for market networks, and I’m excited to see this sector develop. Focusing on reducing the friction on the above doesn’t just generate more revenue for the marketplace, but it’s also just a much better customer experience. Sellers will be more and more discriminating in which marketplaces they will compete. At the same time, watch out for consolidation, as smaller, local, niche, and disruptive marketplaces get acquired by larger players. As Jay-Z once wrote, “I’m not a businessman/I’m a business, man.” Today, this mantra applies equally to marketplace operators.

How Brands Can Keep Or Catch Digital Marketplace Momentum

As a retailer, you already have a brick-and-mortar presence that sells third-party products, and now you want to expand to a digital platform. All these advantages don’t apply equally to all the different types of marketplaces, but are an important consideration for any seller. For example, B2B marketplaces have their own unique challenges, such as payment, financing, logistics, and fulfillment needs that must be catered to differently. Successful ones such as Rekki and Faire understand these challenges and provide targeted solutions. Sellers can gain major advantages and save lots of money when the marketplace operator manages operational complexity. Sellers are relieved of the responsibility of warehousing, shipping, and payment collection – tasks all perfected by the marketplaces themselves.