Marketplace readiness is a question of technology and data.
If you are reading this, you know that retail has been in a state of flux for years. Many formerly strong brands have run into problems because they have not managed to future-proof their business model with online sales. On the other hand, in the e-commerce market big players like Amazon, Otto, Etsy, and Shein dominate, constantly expanding their assortments. This also endangers small online stores, as they only have a limited, often niche product range.
That’s why, for years now, there has been a clear trend towards selling on established marketplaces or even venturing to build one's own. For both companies aiming to run a marketplace and companies that want to join a marketplace as merchants, there are lots of factors to take into account.
What does it mean to be marketplace ready?
Get the full Spotlight to read about:
- Why a Marketplace?
The advantages of marketplaces for customers and merchants, such as increased product variety and revenue streams.
- Critical Factors for Marketplace Success
Key elements like competitive product offerings and high-quality product data for successful marketplace operations.
- Demands for Marketplace Operators
Technical requirements for operators, including infrastructure and data management for an optimal shopping experience.
- Challenges for Merchants
What merchants face in meeting quality requirements and ensuring efficient data exchange within marketplaces.
- Key Risk Factors
Common risks associated with data management and legacy IT systems that impact marketplace projects.
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