Retail Touch Points, September 21, 2017
“The Store As Platform
This relates to stores becoming places that don’t simply house owned inventory, but that provide access to the products customers want. We’re seeing this with electronics retailers like Best Buy — they are carrying products that they don’t own, and when a customer buys them, they are drop-shipped from a third party while Best Buy takes its cut of the transaction.
The solution here, from TradeMonday, is specifically for marketplace sellers. The company already has more than 200 customers in Hong Kong alone that are using this platform. Trade Monday provides reporting to these sellers, on a product level, not just about what is selling in different marketplaces but what their profitability is. They can manage profit margin visibility across multiple marketplaces, including Amazon, Alibaba, eBay, etc. For example, a Nikon camera might be selling well on eBay U.S., but it’s selling even better on eBay UK, and because the duties and total landed costs of fulfilling are lower for the latter, the margins are much better. Previously, this kind of calculation had to be done manually with Excel spreadsheets.”
Please click here to read the full article.