December 3, 2018
Four Ways to Boost Marketplace Transaction Volumes During the Holiday Season and Beyond
Kahuna partnered with Altimeter Research and digital futurist Brian Solis on a first-of-its-kind research report on the state of digital marketplaces. This original research is based on a survey on managers and executives at 100 leading marketplaces. The survey questions spanned business strategy and execution questions, with the result compiled by the data science team at Altimeter. Brian Solis delivers a sharp narrative that connects the rise of online marketplaces to the emerging platform economy and the well-established evolution of customer experiences, the latter of which he has been a leading voice on.
Digital marketplaces represent a new and exciting frontier in online commerce, bringing together sellers and buyers in specific category in a online version of the Grand Bazaar. This represents a massive shift in how goods and services are bought and sold. Analysts estimate that marketplaces will account for 40% of all global commerce by 2020.
Two-sided marketplaces are being embraced by media companies as a strategic direction for their classifieds businesses. Established industries, such as car sales and real estate brokers, are moving online, and portals represent an integral part of how business is done today. The advent of consumer services and transportation is another frontier in marketplaces. Food delivery services are a unique form of marketplace, referred to as three-sided platforms, to represent food sellers, buyers, and the critical delivery component.
Marketplaces are experiences and consumers and sellers alike expect more from platforms. Just bringing together buyers and sellers is not enough, the research shows. Consumers want choice, simplicity, and value-added services, while sellers expect marketing tools, content generation, pricing optimization, and more.
The State (and Future) of Digital Marketplaces is available now for download. This research is a playbook for what you need to focus on in your digital marketplace and the “Must-Do List” provides valuable strategic advice on where you should focus your business strategy.
A Bi-Weekly Newsletter Focused Exclusively on Online Marketplaces