{"id":46605,"date":"2017-08-30T07:00:40","date_gmt":"2017-08-30T07:00:40","guid":{"rendered":"https:\/\/www.akeneo.com\/blog\/multi-vendor-marketplace-2\/"},"modified":"2024-07-01T05:39:17","modified_gmt":"2024-07-01T05:39:17","slug":"multi-vendor-marketplace","status":"publish","type":"post","link":"https:\/\/www.akeneo.com\/de\/blog\/multi-vendor-marketplace\/","title":{"rendered":"Multi-vendor marketplace: Is it right for you?"},"content":{"rendered":" \n \n
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\n Product Experience<\/span>\n <\/div>\n

Multi-vendor marketplace: Is it right for you?<\/h1>\n
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Amazon and Alibaba have created massive marketplaces where buyers can purchase virtually anything they want from any location. To compete, many compan…<\/p>\n <\/div>\n <\/div>\n <\/div>\n

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Amazon and Alibaba have created massive marketplaces where buyers can purchase virtually anything they want from any location. To compete, many companies are looking to expand their product assortment and geographic reach by incorporating multi-vendor marketplaces into their existing eCommerce stores. There are risks to this strategy but most experts think the potential benefits outweigh them. For an in-depth look at both the pluses and minuses of a multi-vendor marketplace strategy, read on\u2026<\/p>\n

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What\u2019s Keeping You Awake at Night?<\/h2>\n

The biggest competition in today\u2019s online eCommerce market is the massive multi-vendor marketplace. In the early days, the big A\u2019s – Amazon and Alibaba – helped to increase online shopping, getting consumers and business customers alike accustomed to buying online. Their victories were your victories.<\/p>\n

But today, that balance has shifted. Now, eCommerce executives need a strategy to compete with – or risk becoming little more than suppliers to huge multi-vendor marketplaces. The Big A\u2019s compete on product, price, and volume, offering a large range of product options through a product inventory that is almost impossible to match. Amazon accounted for the majority (53%) of the growth in US e-commerce sales for last year<\/a>…. and that phenomenal growth was largely based on the marketplace model, where third-party sellers offer products alongside Amazon\u2019s own.<\/p>\n\n

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Tactics to best compete with Amazon and Alibaba are on the minds of many eCommerce executives these days. As well they should be.<\/p>\n<\/blockquote>\n

Adopting the Multi-vendor Marketplace model with a product quality focus:<\/h2>\n

To remain competitive, many large and mid-size companies need smarter approaches to merchandising. One promising approach is to transform a traditional eCommerce site into a multi-vendor marketplace by offering an increased range of higher-quality products without the risk of inventory, logistics, or servicing investments. This approach provides a unique competitive advantage against the Big A\u2019s. Another approach is to shorten the value chain, bypassing wholesalers and buying directly from brands.<\/p>\n

Two technologies are key to a successful marketplace: a marketplace management platform for onboarding and managing sellers, and a product information management (PIM)<\/strong> application. A PIM ensures that the right mix of products are presented in the most efficient and effective way possible, giving customers the best value for each product category.\u00a0For maximum efficiency, the marketplace platform and PIM application need to be tightly integrated. Using the Mirakl<\/a> marketplace management platform in combination with Akeneo PIM can make the move to a marketplace strategy efficient and highly successful.<\/p>\nWhy is product information a key driver for a successful marketplace?\n