Should I Consider Adding a Marketplace to My Business Model?

Ecompromo | January 19, 2021 | Web Marketing

As we continue to assess the implications of the COVID pandemic on consumer buying behaviors and expectations, brands will need to constantly evaluate their Go-To-Market strategies in order to remain relevant and be successful. In light of these new realities, Gartner has analyzed the market implications and published predictions you should consider as application leaders in their Predicts 2021 Report.

So far we have addressed recommendations from the report that speak to the use of digital commerce platforms for B2B companies, shifts in product offerings and multiple go-to-market approaches. Up next, we will focus on the marketplace prediction. Gartner states “By 2023, 30% of enterprise marketplaces will transition into a majority third-party seller model for better profitability.”

What is a Third Party Seller Model?

The emphasis on “enterprise marketplaces” is very crucial, because this doesn’t speak to our more renowned online marketplaces like Amazon, eBay and Alibaba, but rather to businesses that have mostly operated in analog mode before entering the digital space like Walmart. These types of businesses have or will essentially change their business model to open their ecosystem, provide new capabilities, and generate new sources of revenue. However, in the report, …read more

Related Posts