How to Create a Strong Seller Strategy for your Marketplace & Dropship Platforms
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This eCommerce Expo session brought to light valuable insights on creating a robust seller strategy for marketplace and dropship platforms. Let's dive into the key takeaways from the session featuring Michael Joules, Head Of Marketplaces at Pertemba, and Tom Evans, Head of Retail UK/IE & Nordics at Mirakl.
Key Insights:
1. The Growth Trajectory of Marketplace and Dropship Businesses
In 2022, marketplace and dropship businesses witnessed a staggering 38% growth, outpacing overall eCommerce growth by 6X. Consumers are increasingly seeking value and variety, while retailers and brands are exploring third-party inventory strategies for enhanced revenue and profitability.
2. Meeting Customer Expectations through Marketplace Models
Tom Evans underscored how marketplace and dropship models enable retailers to expand product selections, meeting diverse customer demands. Major retailers such as B&Q, Decathlon, and Superdrug exemplify the success of these models in improving profitability, inventory management, and brand assortment.
3. Global Expansion and Rapid Onboarding
Michael Joules shared Pertemba Global's journey, highlighting their rapid onboarding across 120+ global marketplaces. Diversification from heavy reliance on Amazon to strategic expansion underscored the importance of choosing reputable marketplaces.
4. Tailoring Strategies for Marketplace Success
The emphasis on tailoring product assortments to suit each market and leveraging local expertise from marketplace account managers was a key theme. Mirakl marketplaces showcased a quick 3-4 week integration timeline, demonstrating the efficiency of turnkey technology.
5. Focus Areas: Data Quality and Collaborative Engagement
Sellers were advised to prioritise data quality and work closely with operators to enhance marketplace success. Proactive engagement between operators and sellers emerged as a crucial factor in driving assortment growth and overall marketplace success.
Conclusion: Crafting a Successful Seller Strategy
The session concluded with a compelling narrative on the transformative power of marketplace and dropship models. As eCommerce continues to evolve, embracing these innovative strategies becomes imperative for retailers and brands seeking not only to meet but exceed customer expectations. The journey towards a strong seller strategy involves meticulous market selection, data-driven decision-making, and collaborative efforts between sellers and operators. The future of retail lies in the hands of those who can adeptly navigate the marketplace landscape and leverage its potential for sustained growth.
🎥 Watch the Full Session
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