Tag Archives: marketplaces

Happy Holidays! Tis The Season For Trusted Product Content

As Halloween passes and the smell of Pumpkin Spice surrounds you, you see Christmas decorations appearing in stores. We say it every year, “Already, it’s the beginning of November?” Stores seem to remind us earlier and earlier every year that Christmas is coming.

The shopping season has already kicked off, 30% of shoppers plan to do holiday shopping between Halloween and Thanksgiving (Forbes 2017). It is no longer a Friday & Monday sales event, but a week plus long shopping extravaganza, online and in-store.

As the Christmas decorations light up the streets and stores. We get ourselves ready for family dinners at thanksgiving. Retailers are preparing for their biggest few months of the year with what started as a single shopping day in Black Friday and has transformed into over a week of consumer frenzy shopping.

For years, the Black Friday trend was huge competition for retailers to provide the best deals to bring consumers in the store. Consumers would burn off the prior day’s feast by fighting through crowded lines, battling traffic and in many cases darting into store after to store to avoid the cold weather.

Lazy Black Friday

Why would you go through that when Siri and Alexa can do it for you? Over the past several years Cyber Monday has become the online version of Black Friday shopping. Many thought it would only be a trend, but online holiday retail sales will grow by 12% in 2017, accounting for over one-quarter of total US e-commerce sales for the year (Forrester 2017).

We used to wake up from our food comas at 5am in order to make it to the many stores who would open early or even open on Thanksgiving Day. With the growth of online shopping, many stores have begun the opposite trend of staying closed on Thanksgiving in-order to focus on online sales.

Consumers are no longer relying on Black Friday to get their shopping done as there are an abundance of online specials enticing them to stay at home. Online holiday sales are predicted to break the $100 billion mark in 2017 after Cyber Monday 2016 became the biggest day in the history of U.S. e-commerce and 2017 could top that with a predicted $5 billion in sales. (Adobe 2016).   

No matter if you stay in and shop online or venture into the stores this year, retailers will do everything they can to keep you shopping the entire season.

Compete With Trusted Product Content Consumers Can Count On

60% of shoppers use their phones to do research even when in store to look up product information, do price comparisons and check online reviews (Retail Dive 2017). Consumers expect rich and trusted product content on all channels: desktop to mobile. Getting accurate and detailed product information in front of consumers is crucial.

1WorldSync believes that trust and transparency are key components that account for a successful transaction.

As a leading provider of product content solutions, 1WorldSync helps brands and suppliers organize their product content and gets their products listed and in front of millions of new shoppers.

1WorldSync helps you easily publish your product content to key marketplaces such as Walmart and Amazon by:

  • Streamlining the item setup process with 100% accurate data and complying with industry standards.
  • Gaining exposure and managing all your product information via one solution.
  • Reducing operational time while increasing your online presence and penetrating new markets.

Are you prepared to get your products selling before the holidays?

It’s not too late! 1WorldSync can help you get your products on Walmart & Amazon!

Learn more at http://solutions.1worldsync.com/getyourproductstomarketplaces.

References

https://www.forrester.com/report/US+Holiday+2017+Outlook+Digital+Sales+Grow+Boosting+Total+Retail/-/E-RES140075

http://news.adobe.com/press-release/marketing-cloud/media-alert-adobe-data-shows-black-friday-breaks-online-sales-record-3

https://www.retaildive.com/news/how-shoppers-use-their-smartphones-in-stores/444147/

https://www.forbes.com/sites/nikkibaird/2017/11/06/positive-and-negative-factors-that-could-impact-retail-holiday-2017/#43a95bf113b9

 

Upcoming Webinar: Tap into new market potential with Alibaba!

With China’s GDP being $11 trillion, the Asian giant is now comfortably the second-largest consumer market in the world boasting of a massive population of consumers who have a lot of cash to spend.

Are you ready to get your products in front of the Chinese consumer?

Enter Alibaba, a popular destination for online shopping with more than 450 million utilizing their platform delivering upwards of 57 million packages per day! Alibaba has empowered everyone from entrepreneurs to established brands to grow their business in China and around the globe. 

Alibaba is excited to announce it will begin sourcing product information via the GDSN with their content strategy partner, 1WorldSync making it easier for US suppliers to get their products listed on their marketplace.

Alibaba is now able to receive enriched, standardized product content from your company through the data synchronization process. Alibaba is striving to improve the accuracy and trustworthiness of product content protecting brands against counterfeiters.

Join us for an upcoming webinar on Thursday, November 16th at 9 am ET/ 6 am PT to learn more about how you can get your products on the Alibaba platform and ensure the completeness and quality of the product content supplied via the GDSN.

In this webinar, you will learn how:

  • Alibaba’s platform works and why you should be doing business on this platform
  • 1WorldSync can help provide an automated process to manage and distribute your product content to Alibaba
  • To increase sales on the Alibaba platform
  • To leverage your GDSN product content and get your products published and selling in China

To Marketplace, To Marketplace..To Buy And Sell! – Part 1

Today we sat down with Bert Gregory, 1WorldSync’s Community Manager to discuss the importance of marketplace and the path to purchase.

What is a marketplace?

An online marketplace is a website or app that facilitates shopping from many different sources. The operator of the marketplace does not own any inventory, their business is to present other people’s inventory to a user and facilitate a transaction. eBay is the ultimate example of an online marketplace, they sell everything to everybody. There are many other types.

What is the difference between e-commerce and a marketplace?

Well to be fair, marketplace is a component of how e-commerce is evolving.  If we look at the original model for e-commerce, the process went like this.  Supplier sold product to the e-commerce site who warehoused the items and put them up for sale to the end consumers.  Marketplace takes 2 big components out of that process, 1. The products are sold to a 3rd party [either a distributor or other ecommerce player] and 2. The product sold on the e-commerce site are supported and fulfilled by the 3rd party and not the site itself.  But marketplace is not limited to goods, Airbnb is actually a marketplace, just with temporary housing as the items being traded.

What types of marketplaces are there?

Well that depends on what is being sold or traded.  

  1. i) There are switch marketplaces – which are peer-to-peer, VRBO and Craigslist are great examples of this.
  2. ii) There are also vertical or industry specific marketplaces like Trivago and Hotels.com which offer very specific products to end consumers

iii) Then there are the retail marketplaces, also known as global.  Best examples of these are Alibaba, Amazon and Ebay.

What pros and cons do marketplaces pose for end consumers?

Data gathered from the Internet Retailer 2016 Top 500 Guide shows that, collectively, the 26 retailers that disclosed their sales from online marketplaces brought in 14.4% of their total $3.1 billion in sales in 2015. That’s up 42.9% worth of goods sold through marketplaces in 2014 for the same 26 retailers.

Marketplaces represent an opportunity for sellers to expand their reach to more consumers, both nationally and internationally. With a plethora of online marketplaces available, merchants can choose sites that make the most sense for them.

End consumers benefit a couple of ways from marketplaces, they have extended selection of goods and services, the ability to comparison shop the ecommerce site rather than leveraging search engines and also the potential for lower prices due to increased competition.  There are however some challenges for the end consumer as well.  They may not realize that the product they are buying is not actually being sold to them from their trusted site, which can complicate communication and returns.  Another challenge/con is the concern over counterfeit goods.  Marketplace sites and sellers strive for perfection with this challenge, however the sheer number of products being sold can cause items to slip through the cracks.

How have marketplaces evolved over the years?

Quite a bit actually, I remember when Amazon was just selling books, and would allow an end user to sell their used books to others hence a peer to peer system.  The same can be said for Ebay as peers were selling their goods digitally to others.  This has evolved to major retailers, etailers and distributors now selling their products via the marketplace platform.  Oh and let’s not forget that marketplace has also change how end consumers find hotels/lodging, buy airfare, shop for clothes and even go to rummage sales.  Yep, even the weekend activity of shopping other people’s stuff has turned into a digital marketplace.  Ebth.com [Everything but the house] and LetGo are perfect examples of this.