Global B2B ecommerce sales to reach $12.7T by end of 2024
Online marketplaces will account for $3.6T (iBe TSD Ltd)
More products and brands means more opportunities to find your website. It also means more marketing opportunities through search, building a larger email database and potentially offering the ability for sellers to buy placement on your site.
There is less financial risk in launching a marketplace. And, since you don’t take on any inventory, you can add new sellers quickly and with little risk.
A marketplace platform enables sellers to manage their products/or services on your site in a self-serve manner. It requires very little oversight on your part. Allowing the seller to manage the aspects of inventory, pricing, logistics, etc means less resource investment, saving both money and time.
Because you aren’t investing in inventory, a marketplace allows both you and a seller to test which products are gaining traction. It is then easier to determine what, if any, products you want to take an inventory position on.
A marketplace allows you to expand beyond your core business quickly. This helps reduce the risk of market volatility for specific categories.
Amount of businesses expecting increase in marketplace purchases in next 1 to 3 years (UPS)
Many companies will expect their tech providers to offer their services via a marketplace approach
Millennials leading wave of new buyers
73% provide input and 35% are decision makers
Comfortable with B2C ecommerce model and view B2B in similar way