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How online marketplaces can affect the potential of your brand
It's a well-known fact that modern e-commerce seeks to develop a cross-border trend. And the logical consequence of such conduct is the growing importance of online marketplaces in international trade.
(The Roobykon Software experts have recently presented the article "To Meet Global Ambitions, Look To Local Marketplaces"
Last year, we had the following prediction about cross-border e-commerce:
The growth of global cross-border e-commerce to $1 trillion by 2020! As the result – the growth of well over 300% in comparison to as recently as 2014.
Other researchers indicated that two-thirds of shoppers would already choose to purchase from a marketplace.
And according to this, we can conclude that marketplaces are not merely growing on the back of a trend towards e-commerce, but are also have an increasingly dominant share of the overall e-commerce pie! And such behavior also affects to shoppers, namely the increase of their attention to online marketplaces (https://roobykon.com/
But what is the main thing that attracts merchants to marketplace platforms?
Marketplaces represent a proven pathway towards global expansion for retailers and brands – thanks to the high levels of trust they enjoy in the markets they operate within, and the repeat custom they encourage by providing a familiar, convenient environment in which shoppers can expect always to find what they're looking for.
It's worth pointing out that when we speak of marketplaces, we don't imagine the ubiquitous megaliths like Alibaba and Amazon. For example, in New Zealand, the most popular marketplace is Trade Me – the site which has more registered users there than Facebook, but such its popularity in New Zealand can't be applied elsewhere.
And this type of platforms is no exception for other regions. With the help of such deeply-embedded local and regional platforms, brands and retailers can both find target audiences and continue to plant themselves in the consciousness of consumers across the globe.
Given the competition for trading environmenеt, online marketplaces offer to win this war with a powerful weapon, in the quality of which they provide advanced marketing features. With properly setting of marketing tools within their platforms, sellers and brands get in front of the eyes of the right consumers!
Marketplaces around the world naturally reflect the pre-existing retail landscapes of the places in which they operate.
So, in Southeast Asia, they act as 'virtual shopping malls', fulfilling the same broad remit that might be placed upon physical retail spaces, but catering to the millions of consumers who don't live near a big shopping hub.
Europe and the US have a trend towards marketplaces with particular specializations – whether in technology products, clothing, or hobby supplies.
China and the Middle East, local marketplaces have popped up to serve the growing demand for high-end fashion brands.
In our ever-globalizing world, the old-school cachet of traditional European brands is more alluring than ever to consumers around the world. For those that are prepared to seize the moment, the opportunity is huge: the likes of Burberry, which a generation ago was a small elite fashion house, have become global luxury empires – not least with the help of marketplaces like Ozon in Russia and China's Taobao. And all of this isn't only about luxury brands!
There are still many examples of world-known online markets which have been started like local brands.
The point is, online marketplaces are a powerful partner in your journey towards taking the unique joys of what you have to offer to people all around the world.
Roobykon Software/Julia Chernykh