Multi-merchant marketplaces are now a bigger part of online retailing in the U.S. than ever before. In fact, 97 percent of U.S. consumers who shop online do so on marketplaces in 2019, that’s up 85 percent from the previous year. B2C Marketplaces are like an online mall. Rather than being about just one thing or type of product, such as electronics or home goods, these marketplaces carry many different product lines from many different suppliers, all carried under one roof. The bigger retailers offer far more products without the cost of purchasing or stocking them. For smaller businesses, they’re a great opportunity to reach a new audience at a low cost. In most cases, suppliers fulfill their own orders, then pay the marketplace a fee for bringing in the business. J. Crew and Urban Outfitters in the fashion space, Best Buy in consumer electronics, and Crate & Barrel in home furnishings are few retailers seeing the success of today’ marketplaces segment. Marketplaces help retailers expand into new market with low risk and reach wider customers base.
B2C Marketplaces provide competitive prices, wide range of products/services and variety of shipping options from different suppliers. The marketplaces provide the customers the freedom and flexibility to browse, read reviews and compare prices before making their decision.
Maximize your B2C Marketplaces using IdyaFlow’ features:
– Simple & Intuitive Suppliers On-boarding
– Advanced Search & Filter Capabilities
– Delivery & Shipping Configuration
– Brand Reputation
Today’s marketplace is competitive. With one-click shopping, speedy delivery and free returns, it feels like almost impossible to keep up. Increasing customer retention by just 5% can boost profits anywhere from 25-95%. Customer Loyalty is a huge factor in the longterm success of B2C marketplaces.
Here are few critical features we offer to build customer loyalty: