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Sellers typically control what retail marketplaces charge for their products, but retailers have options to keep pricing competitive—and customers loyal.
By Michael Munguia on November 16, 2022
The appeal is simple: consumers love a diverse array of goods, and third-party sellers can vastly expand a company’s assortment without the inventory and carrying costs of doing so independently. Department stores, grocers, big-box electronics, and home-goods brands have all gotten on board, and momentum behind marketplaces is likely to continue. Then you can dive down even deeper into all of your programs by creating a list of strategic channels and tactics you intend to employ to be successful attaining your goals. The next figure shows an example of a programs pick list that you can create for this purpose. Of course, your program list and objectives are going to be different, but this gives you a good example of how to set one up.
The appeal is simple: consumers love a diverse array of goods, and third-party sellers can vastly expand a company’s assortment without the inventory and carrying costs of doing so independently. Department stores, grocers, big-box electronics, and home-goods brands have all gotten on board, and momentum behind marketplaces is likely to continue.
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