Companies collaborate on best practices eBook: “Setting Yourself Up For Success When Building a Marketplace”, available now as a free download
DENVER–(BUSINESS WIRE)–#commerce–Web Force 5, Adobe and Marketplacer, three leading companies with enterprise-grade expertise and proven success working together to help build digital commerce sites and marketplaces, have collaborated on an eBook featuring best practices and commonly asked questions as a guide for retailers and companies looking to launch and run their own marketplace.
It’s reported that $3.23 trillion is spent globally on the top 100 marketplaces with the top 49 U.S marketplaces reporting $919 billion in sales (Digital Commerce 360). Interest in operating a self-owned marketplace is on the rise from established retailers looking to drive revenue and create sustaining commerce strategies.
Retailers are actively looking for ways to drive revenue and are facing decisions about how best to build and optimize their tech stack. We’ve had so many conversations with merchants who’ve wanted to develop a marketplace in-house, but custom building always comes at a much higher cost to build and maintain over time, and in hiring and training staff,” says Lou Fabian of Web Force 5. “This is one reason we collaborated on this informative guide for retailers evaluating a marketplace strategy and what to look for in a partner. We know how to help them answer the questions they have.”
Creating a marketplace strategy enables retailers to expand catalog offers and branch out to new brands and markets with less investment risk, while mitigating supply-chain concerns. Scale becomes easier to achieve when evolving past a drop-ship-based business and building a seller-driven strategy. Marketplaces also increase customer engagement and grow customer lifetime value and loyalty by connecting like-minded buyers and sellers in your community.
“With a good marketplace platform, you’ll get a host of features that help you easily add and manage sellers and transactions from end to end,” says Jim Stirewalt, President, Marketplacer US. “On a marketplace, sellers will manage their own inventory, shipping, and returns behind the scenes, creating a much more seamless shopping experience.”
The eBook, available as a free download, features:
“Online marketplaces account for a significant share of the world’s overall ecommerce market. Since they can be a great asset for an ecommerce business and retailers, brand manufacturers and distributors need to decide whether they will sell on someone else’s marketplace or if they will operate their own,” says Ed Kennedy, Product Marketing Manager at Adobe. “In this eBook, we share insights from working with thousands of brands’ on their digital marketplace strategies, including listing their products on 3rd party marketplaces from within Adobe Commerce, powered by Magento, or launching their own marketplace storefront.”
The Setting Yourself Up For Success When Building a Marketplace” eBook is available as a free download at: https://marketplacer.com/resources/setting-yourself-up-for-success-when-launching-a-marketplace/
Marketplacer is a global technology Software as a Service (SaaS) platform equipped with all the tools and functionality needed to build a successful and scalable online marketplace at speed. To date, Marketplacer has helped over 95 businesses build and deploy their very own successful marketplace strategies and connected over 25,000 businesses worldwide. The Marketplacer platform exists to make growth simple, from implementing marketplace strategies such as shipment from drop-ship sellers, adding new categories or third-party range extension, through to consolidating markets and rolling out modern revenue models such as recurring memberships that allow businesses to grow faster and beyond the constraints of capital inventory.
Born and bred from the award-winning BikeExchange, the biggest online marketplace for anything and everything bike, founders Jason Wyatt and Sam Salter saw the opportunity to license the online software platform and apply it to new marketplaces. Marketplacer is responsible for powering business transformations of companies around the world. Visit www.marketplacer.com for more information.
About Web Force 5
The combined force of digital experts from 5 continents. That’s Web Force 5. It means our teams across the globe can be working for you while you sleep. Your website doesn’t rest, neither do we. Our industry revels in ambiguity, enabling bad tech, poor service, and price gouging. We know. We’ve done a lot of relationship rescues. And when someone’s been badly burnt, you have to be twice as good to win their trust. We had enough of being in bad relationships ourselves. It’s why we left our companies to start Web Force 5. We deserved better, and so did clients. Life’s too short. We treat our staff, our suppliers, and our clients all with the same respect. Right from the start, we took ambiguity out of the equation. We spend time doing crazy detail up-front. It can be painful, but it pays off. It gets our clients online, on time, on budget, and still on speaking terms. Now that’s something to revel in. Reach out to Lou and Web Force 5 for a complimentary consultative session at Webforce5.com.
Radix Collective for Marketplacer
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