5 Trends all e-marketplaces Need to Follow in 2016 to Survive
For any startup, to scale up or not to scale up is not a choice anymore, it is a necessity. The global business circuit is suddenly experiencing a startup spark. With the support of economists and key decision makers a lot of people are taking the risks of entrepreneurship. One vertical in startups that has received maximum mileage from investors and the media alike is e-commerce now e-marketplace. Be it in losses, online shopping is going to stay. So, how should they gear up for the market and stay on the top? Here is a quick industry observation from us:
1. Go Hyperlocal
Hyperlocal is not an urban phenomenon anymore and yes, your potential customer is spoilt for choices. So, serve him everything on a platter. An e-marketplace model will have to adopt or go the hyperlocal way to provide ease of access to its customers. So even if the store is right at the corner of his residence or inside the complex, he should be able to order it through your website or app. Indian retail industry is still dominated by offline retailers and partnering with them through hyperlocal offering is a good idea, instead of trying to replace them.
Sellers need to shop as well. Although you cannot replace the retailers, what is the harm in dealing directly with the whole sellers? Scale up your platform or develop your business development team to work on getting Bulk Suppliers on board. Enable your e-marketplace platform to allow customers, retailers and bulk sellers to connect at one place.
This is a trend that is going to stay and might just become a normal offering for any e-marketplace model. Provide your sellers ease of access and avenues to promote their brand and interact with the customers seamlessly. Internet is rampant with stories of sellers getting irate over miscommunication from big e-commerce giants like Flipkart and Amazon.
The moment FB, twitter and now linkedin announced paid marketing opportunities on their platform, businesses jumped on it. And why not, although the user acquisition rate from social ads is placed at higher cost, it comes with tremendous branding and outreach opportunity. Not just market your products on social media, go in the niche groups and sell it. Hire community managers to handle each social media property and participate in real conversation.
5. Delivery Logistics
By going hyperlocal e-marketplace can actually remove the hassles of delivery and logistics to a certain extent, but not completely. With different delivery options like Bike-delivery, Cycle-Delivery, Shared-delivery and pick up services available, it would be a good idea for e-marketplaces to collaborate with them. Strengthening and streamlining the delivery is key to good user experience and retention.
We are trying to implement all of it in our offering, discover more about M1 App by writing to us here email@example.com. We connect bulk suppliers to retailers and retailers to direct customers.