Marketplaces: an opportunity for every brand - Cedric Donck
In the midst of the vibrant ideas and innovations that characterised the BAM Marketing Congress, Cedric Donck stood on stage highlighting the future of e-commerce with unprecedented clarity. His talk on the rise, growth and growing importance of selling through online marketplaces shed new light on the future of e-commerce.
E-commerce is dead
In a world where digital commerce has grown exponentially, Donck wonders whether the label “e-commerce” has lost its relevance. Is e-commerce actually still a defined field, or has it become so all-encompassing that it should simply be considered commerce?
The term “e-commerce” originally suggested a distinction between traditional commerce and its digital counterpart. However, with the boundaries between online and offline blurring, it seems we are witnessing the end of the e-commerce era as we once knew it. It is no longer just a specific branch of commerce; it is now simply commerce in all its glory.
Why this change? The scale of digital transactions has reached unprecedented levels. We do not just shop online or offline; we seamlessly navigate between the two worlds. Retail giants and small entrepreneurs no longer operate exclusively in the physical or virtual sphere; they have united in one big commercial playground.
Traditional e-commerce is on an iceberg. The iceberg is melting. - Cedric Donck
Marketplaces: not a matter of ‘or’ but ‘and’
Within the evolving landscape of e-commerce, marketplaces play a crucial and increasingly intertwined role. What once started as an option alongside traditional e-commerce has now evolved into an ‘and’ story, with businesses no longer having to choose between having their own webshop or a presence on marketplaces, but rather embracing both approaches.
Marketplaces such as Amazon and Bol.com no longer act as mere complementary channels; they have become essential links in the wider e-commerce ecosystem. Consumers have preferred the convenience of finding various products in one place, while sellers benefit from the reach, trust and visibility that marketplaces offer.
Thus, the ‘and’ approach means that companies need to cultivate their own online platforms as well as have a presence in various marketplaces.
While e-shops trigger community building, brand perception and engagement, a physical shop contributes to brand visibility. Marketplaces, on the other hand, are mainly focused on generating volume. These three elements combine to form a balanced retail strategy: e-shops for engagement, physical shops for visibility and marketplaces for scalability.
Fusing its own online presence with the dynamics of marketplaces is the key to success in the modern e-commerce era.
How can 4P square help you?
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