In the margins of this week’s World Retail Congress in Madrid, I caught up with Chris Wilson, a UK based onliner by profession but who has spent lots of time in Europe multi-channelling bricks-and-mortar. He’s passionate about marketplace.
The Future of Retail – turn your store into a marketplace with PayVide – Buying at the point of inspiration http://brightgeeks.co.uk/payvide/
“Physical stores are struggling on today’s high street and online marketplaces could be the answer for many. Marketplaces take retail and e-commerce to another level by offering customers even more convenience and choice whilst leveraging the “brand” and maximising online fingerflow” - Chris Wilson, Principal Partner Bright Geeks, UK Ltd
Could such an approach be a catalyst for bringing the store and the e-shop together to deliver what millennials are looking for? This could well be the case!
Customers can save time and money by benefiting from greater price awareness in a single marketplace location. Remember, in today’s market price wins over loyalty and convenience is king. They can buy products at the point of inspiration without the need of trawling through multiple websites to find the best suited product and offer. This saves customers valuable time and increases website and brand loyalty whilst enticing them to return more frequently and to buy more and more!
That's not the only benefit. Marketplaces can extend product catalogues without limits which also has a very positive impact on SEO. Furthermore they can build new customer-profiles due to a better understanding of buying behaviours as analysis and analytics become ever more important. They additionally build new traffic and stronger relations with their current customers. The benefits continue to grow and seem endless.
Bright Geeks offer a variety of marketplace solutions that don’t require advanced or expensive integrations and can be implemented quickly and easy. There are two models:
- the classic marketplace that connects shops with retailers and/or wholesalers or something totally new and fresh which is the affiliation marketplace
- the affiliate marketplace solution, which connects a webshop with an affiliation site with almost zero integration from either side and keeping all the benefits of the affiliation model.
The experts at Bright Geeks offer tailored marketplace solutions to fit all business strategies. From the classic solution to the new and fresh affiliate marketplace model.
Marketplace – creating upwardly mobile online and offline shopping experiences