6 Inspiring Marketplace Trends to Apply in 2023

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6 Inspiring Marketplace Trends to Apply in 2023

Marketplace indicators are growing rapidly. A sharp rise in e-commerce has been recorded during the pandemic. Shoppers have been forced to change their consumption habits, switching from offline to online shopping. But even now the trend is positive. Having made sure that buying on marketplaces is convenient and safe, users began to use them more often.

Buyers Choose Not A Brand, But A Platform

Users are accustomed to convenience and fast delivery, so now they are increasingly choosing marketplaces, even if there is such an alternative as the brand’s own online store. Channel loyalty is now higher than brand loyalty.

Sellers often share that maintaining social networks and developing their own online store is too expensive and time-consuming for them. It is much more profitable to completely switch to marketplaces that have already established storage, packaging and logistics processes. And most importantly, the marketplaces already have customers ready to buy.

Buyers Search On Marketplaces, Not Search Engines

Most buyers first look for products on marketplaces rather than search engines.

To receive an influx of new audiences not from search engines, you have to test new media tools. Promotion is the main source of knowledge about a product and a necessity for an entrepreneur. There are more and more sellers on the sites, which means there are also competitors in the same product group. On the one hand, a large selection of products ensures a constant influx of new audiences. On the other hand, winning the user’s attention is becoming increasingly difficult.

Focus On Analytics

Experienced sellers know that analytics can increase the number of orders several times. And earn much more for the same costs. Because analytics shows unobvious points of growth and provides a lot of valuable data.

To successfully trade on marketplaces, you need not only to collect data on profits and products, but also to be able to analyse them. Sellers who study reports and know which items are selling best are always one step ahead of the competition. They do not waste resources on supplying unprofitable goods and save money.

Multiplatform

The consumer is at the forefront of all business processes: the entrepreneur must understand the habits and behaviour of the client, know what he does every day, and make assumptions about where and how to attract his attention. With each additional connected sales platform, entrepreneurs’ turnover increases by 1.5-2 times. To develop a business on the Internet, you need to be open and try to cover as many channels as possible: sell on different marketplaces, have your own online store, accounts on all social networks popular among the target audience, and actively use recommendation services. In order for all sales channels to work as efficiently as possible, it is necessary to use the best frameworks for web development in your work. For this, it would be best to study and compare different options and choose the one that best suits your business.

Development Of Vertical Marketplaces

Universal marketplaces cannot always satisfy all customer needs: sometimes people need the ability to set up a multi-level search based on specific parameters. In addition, the expertise of the platform itself in a specific segment is important to them. This niche is covered by vertical marketplaces that specialise in one category and provide the buyer with a choice of products within the segment with deep detail of his requests.

Artificial Intelligence

Neural networks are already drawing illustrations for product cards and generating selling descriptions of things. Artificial intelligence automates processes, replaces full-time employees and simplifies the work of remaining specialists.

Based on smart technologies, various tools have already been created to help entrepreneurs increase the efficiency of interaction with consumers. Installing an intelligent chatbot will allow you to respond to customer requests around the clock and select quick solutions to their problems based on big data.

Conclusion

Small and medium-sized businesses that want to develop online must take into account all changes in the industry and evaluate opportunities for development: be present on all platforms, analyse consumer demand and popularity among the target audience of various sales channels, and also not be afraid to use new technologies and services to attract and retain customers.