UKT News’ Post

Luzern eCommerce and Marketplacer Join Forces To Disrupt Online Marketplaces. Luzern eCommerce, the leading European eCommerce Accelerator, has announced a strategic technology partnership with Marketplacer to revolutionize online marketplaces. By combining Marketplacer's connector for rapid Marketplace setup with Luzern eCommerce's Channel Optimizer platform, businesses can optimize sales, margins, and inventory across channels and borders. Hear from Luzern eCommerce CEO Ken Doyle and Marketplacer CEO Jason Wyatt. #technology #sales #ceo #ecommerce https://lnkd.in/eVr_-v2f

Marketplaces have become dominant in global ecommerce, accounting for 60 percent of online spending last year. In Europe, specialized marketplaces in particular are benefiting from this growth. #ecommerce #marketplaces #statistics #europe

This is something we saw with our Cyber 5 performance. Amazon GMV was almost flat across the board for our customers whereas we saw great growth from other channels such as Otto, ASOS, Veepee, Galaxus #eucommerce #europeanretail #marketplaces

[Coming to the market very late - it will be difficult to take market share away from Takealot and Makro and NEW MARKET ENTRANT Amazon (that has an advantage due to its worldwide brand)] Hanan and Bash co-founder Luke Jedeiken founded Superbalist, which was sold to Takealot. They served as Takealot executives during the company’s “glory years” when eCommerce was taking off in South Africa. While many eCommerce platforms in South Africa already occupy a large part of the market, Hanan believes that only a few provide worthwhile services to its customers. By focusing on the fundamentals of eCommerce, Bash hopes to do exactly that and hold its own in the crowded eCommerce space, said Hanan. Bash offers its users scale and choice, as they can use it as a “one-stop shop” for hundreds of brands that are part of the TFG group. Bash already has an advantage in this regard, as TFG has a “large number of retailers to plug into the platform”. It also focuses on being in charge of end-to-end operations, meaning it owns the coveted “last mile” of its process by both selling and delivering the products sold on the platform. “At the moment, we have a team of 200 people who want this business to succeed,” he said. “You can’t outsource a core competency. Would a physical retailer ever outsource buying?” Hannan said. https://lnkd.in/dU27bySv

Which online marketplaces are preferred by Portuguese digital shoppers? Read our article to find out. #portugal #ecommerce #dropshippingbusiness

"The future of online marketplaces is incredibly promising. Currently, 63% of all e-commerce transactions take place through a marketplace, highlighting the significant role these platforms play in the digital economy. Importantly, these sales are not cannibalizing site sales but are additive. They provide an additional avenue for retailers to reach consumers and can significantly boost overall sales volumes. Take, for example, a small boutique clothing store. Their website might attract a loyal customer base, but by also listing on marketplaces like Amazon or Etsy, they can reach a much larger audience without detracting from their site sales. In fact, it can often drive new customers back to their own website, increasing overall sales. Another exciting development is the rise of cross-border selling. Marketplaces have simplified the process of reaching international customers, opening up entirely new markets for retailers. A UK-based retailer could easily sell to customers in the US, Europe, or Asia, thanks to these platforms. Localization – offering products in the local language, accepting local currencies, and understanding local customs and regulations – is key to tapping into this potential. Let’s consider a US-based electronics company that starts selling on Alibaba. They can now effortlessly reach millions of potential customers in Asia, without the need for physical stores or local distribution networks. This opportunity for global expansion was unthinkable a few decades ago. Online marketplaces are driving a new era of retail, one that is global, inclusive, and customer-centric. They offer unparalleled opportunities for growth, diversification, and innovation. For retailers willing to embrace these platforms, the future looks bright indeed." Insights shared by Chris Timmer, CEO at Linnworks, from our annual #ecommerce round-up, where we asked industry leaders to offer their vision and strategies for 2024 that can propel your #onlinesales. Discover more actionable perspectives by other contributors in the link below. #Entrepreneurship #OnlineBusiness #SalesGrowth