Connect your business to online marketplaces

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Transform your online business

Online marketplaces now make up over 20% of worldwide retail transactions. If you’re unaware of why businesses are moving their products into these vast behemoths of international commerce, read on.

Transform your online business
What are online marketplaces?

What are online marketplaces?

Websites such as eBay, Amazon and AliExpress took the bull by the horns and created online stores filled with products from retailers around the world. At The heart of their business is simply the connection between the retailer and the shopper. Using algorithms to provide the best quality matches between a product search and a results page, marketplaces are able to provide the highest quality of products in an instant.

An online marketplace is by its very definition a virtual, labyrinthine market featuring millions of stalls selling every item you could possibly imagine, from Christmas trinkets to luxury SUVs. The sheer volume of traffic these websites receive puts pressure on retailers to show their products in online marketplaces.

Many businesses would prefer to manage their own sales through their native channels, but the reality is that shopping is changing and retailers need to follow the behaviour of 21st century shoppers.

The future of retail

Bricks and mortar stores are changing their fundamental purpose. Rather than being the checkout, they are becoming the showroom, essentially a hugely important part of the marketing and branding of a company.

Go to any Apple store and you won’t see piled up boxes of stock ready to be bought, but a clean, light, ultra-slick showroom of their products displayed perfectly for the shopper to test, hold and enjoy. The actual purchase in the store is the same as a purchase you make on an online marketplace, with the product delivered to your door in less than 48 hours.

For manufacturers and distributors, the ability to manage many thousands of daily purchases and deliveries is key their ability to compete. Having processes to manage their product catalog across online marketplaces provides a boost that is slowly moving away from their physical stores.

  • Online purchases now make up 13.4% of worldwide retail

    Online purchases now make up 13.4% of worldwide retail

  • The GDP from online retail worldwide will reach $4.8 trillion by 2021

    The GDP from online retail worldwide will reach $4.8 trillion by 2021

  • In 2021, there will be 2.1bn digital shoppers worldwide

    In 2021, there will be 2.1bn digital shoppers worldwide

How to connect your business to online marketplaces

How to connect your business to online marketplaces

Though businesses understand the importance of digital transformation, many are yet to implement the right strategies to make sure that the same fluidity that existed in the past is transferred to their modern retail practices. Having bi-directional connections to online marketplaces streamlines the process of maintaining product information across multiple channels, and provides the security you need, allowing only the right people access to the core information of your business.

There are now hundreds of marketplaces across the world, and the number will continue to grow. Each marketplace has its own way of defining the information required for every type of product, and each one has its own information templates. For businesses to manage the upkeep and delivery of this information takes a huge effort. PIM provides a tech solution that can connect multiple versions from a single source of truth to fit the exact fields each marketplace demands.

Once complete, any changes made to the core silo of product information is reflected across all of the connected sales channels automatically.

PIM with Marketplaces

With a product information management solution, a single source database holds all of the vital information of your product catalog. From here, you can now connect it to any marketplace worldwide and manage your connections to exactly reflect the requirements of each marketplace. Your product information will be updated automatically from the core of your PIM software, taking out the pain of constant seasonal and annual updates.

PIM with Marketplaces
Cómo un software PIM impulsa tu estrategia en marketplaces

Here’s how PIM software can supercharge your marketplace strategy

  • Sync your products directly to your sales channels

    Sync your products directly to your sales channels

  • Benefit from secure, shareable product information

    Benefit from secure, shareable product information

  • Control the visibility of your products in your marketplaces

    Control the visibility of your products in your marketplaces

  • Customize your entire catalog specifically for each marketplace

    Customize your entire catalog specifically for each marketplace

  • Maintain all of your product information with a Single Source of Truth (SSoT)

    Maintain all of your product information with a Single Source of Truth (SSoT)

Discover the magic of PIM with our product management consultants

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