{"id":2914,"date":"2024-07-18T10:53:56","date_gmt":"2024-07-18T09:53:56","guid":{"rendered":"https:\/\/storfund.com\/?p=2914"},"modified":"2025-01-22T11:08:21","modified_gmt":"2025-01-22T11:08:21","slug":"marketplace-growth-brings-huge-opportunities-for-sellers","status":"publish","type":"post","link":"https:\/\/storfund.com\/en\/marketplace-growth-brings-huge-opportunities-for-sellers\/","title":{"rendered":"Marketplace growth brings huge opportunities for sellers"},"content":{"rendered":"
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From High Street to Marketplace<\/h2>\n\n\n\n

\u2018Attention Shoppers: Internet is open\u2019. Few who read that New York Times headline 30 years ago could have imagined how much ecommerce would transform the world. Retailers have had to adapt and now their inroads into marketplaces represents big opportunities for sellers.<\/p>\n\n\n\n

The best retailer marketplaces focus on giving consumers what they want \u2013 a frictionless buying experience, value, and choice. Choice is critical and that is where verified sellers, or \u2018partners\u2019, are having a huge impact.<\/p>\n\n\n\n

The results have been impressive for retailers, and it is worth considering how their marketplace ambitions can fuel seller growth too. Here, we take a look at B&Q, a large UK home improvement retailer, as it is a good example of what is possible.<\/p>\n\n\n\n

Retail Marketplaces \u2013 Doing It for Themselves<\/h4>\n\n\n\n

B&Q launched DIY.com<\/a> in 2022. By the end of 2023, its marketplace had attracted 320 million visits, generating a notable contribution to the core business. In January 2023, DIY.com\u2019s marketplace sales represented 22% of the retailer\u2019s total online sales. Within a year, that percentage grew to 38%, and it is on track to keep growing.<\/p>\n\n\n\n

Whilst this is no doubt good news for the retailer, these new marketplaces offer sellers three new sales avenues.<\/p>\n\n\n\n

1. Brand new debut<\/strong><\/p>\n\n\n\n

With strong brand recognition amongst consumers, retailers able to maximise their store presence with an efficient marketplace are now a force to be reckoned with.<\/p>\n\n\n\n

The good news for sellers is that they are open for business<\/a>. DIY.com for example, has 1.2 million products available from 1,100 sellers and as it aims to expand to include 2 million home and garden products, it is actively seeking to recruit more sellers.<\/p>\n\n\n\n

As consumers gravitate to the online offering of high street names they are familiar with, marketplaces are maturing, with more players offering greater growth potential.<\/p>\n\n\n\n

2. Geographic expansion<\/strong><\/p>\n\n\n\n

Sticking with B&Q as our example, its parent company also owns Castorama and Brico D\u00e9p\u00f4t in France and it operates in Poland, Iberia and Romania.<\/p>\n\n\n\n

Castorama also has an ecommerce marketplace and B&Q has stated it is looking to introduce international sellers to its DIY.com platform. It is actively exploring how to manage cross border shipping and tax implications.<\/p>\n\n\n\n

Retailers with the ambition and infrastructure to expand their geographic reach represent a clear opportunity for sellers to expand with them.<\/p>\n\n\n\n

3. Broad appeal<\/strong><\/p>\n\n\n\n

DIY.com encompasses items for the garden as well as the home, a vast scope, attracting customers looking for everything from cement mixers to cushions. This breadth has led to retailers showcasing items in their marketplaces that their stores would never have stocked.<\/p>\n\n\n\n

Tristan Commecy, Head of Marketplace at B&Q, admitted: \u201cWe were very surprised to see products that we probably would not have ranged ourselves if we had to buy them for stores, still selling.\u201d<\/p>\n\n\n\n

DIY.com\u2019s much wider range has also pulled in a broader mix of consumers. Last year, 50% of its shoppers had never previously bought from B&Q. This creates yet more momentum for sellers and retail marketplaces.<\/p>\n\n\n\n

Three retailer marketplaces looking for sellers<\/h4>\n\n\n\n