[{"@context":"http:\/\/schema.org","@type":"Article","@id":"https:\/\/www.the-future-of-commerce.com\/2021\/11\/10\/e-commerce-auto-suppliers-examples-marketplace-model\/#Article","articleBody":"Global economic trends and B2C e-commerce are transforming business-to-business (B2B) online buying. Industries that might\u2019ve never considered themselves to need digital commerce are now realizing how critical it is \u2013 and the use of the marketplace model by visionary e-commerce auto suppliers is a great proof point around this topic.\nIn response to changes in the dynamic business environment of today, organizations are deploying their own marketplace solutions to streamline and scale B2B e-commerce instead of relying on solutions from the big retailers.\nWhat is the marketplace model: Definition\nThe marketplace model harnesses the power of digital platforms and sales for sellers, connecting them with buyers. Brands use the marketplace model to reach customers who want to buy certain products or services \u2013 traditionally, the marketplace hasn\u2019t sold their own products, but that\u2019s changing, as evidenced by Amazon.\nThe marketplace model is also called:\nMarketplace business model\nDigital marketplace\nEnterprising brands are starting their own marketplaces \u2013 and while it\u2019s no small undertaking, the benefits and potential are massive.\n \nDigital marketplaces: Examples, benefits, strategies\n   Digital marketplaces are growing fast. Here's everything you need to know about digital marketplaces, including examples, benefits, and strategies for jumping on the bandwagon.  \nBenefits of the marketplace model: Boosting e-commerce auto suppliers \u2013 and other B2B industries\nUsing the marketplace model within your own brand or platform offers a host of benefits for companies, including:\nTaking control of the full customer journey\nUsing enterprise data to understand customers better\nDriving growth without channel conflict\nOffering more-engaging online experiences\n \nHow B2B industries tackled COVID challenges and won\n   Find out how B2B industries like manufacturing and high tech transformed amid during the pandemic. Manufacturers had an important realization: Your buying experience should be simple, even if your products aren\u2019t. This is a valuable takeaway for every industry.  \nSimplifying things: Defining variations of the marketplace model\nThe marketplace model features advanced software, technology, and best practices to help simplify supply chains and increase profitability.\nAnd with supply chains that span oceans, skies, and continents, holistic e-commerce for auto-suppliers is becoming more and more critical by the day.\nHere\u2019s a brief breakdown of what the terms around marketplaces mean:\nHorizontal: Broad coverage with something for everyone, like Amazon and Amazon Business\nVertical: Narrow target market within a single industry, with optimal purchasing conditions for a small set of buyers, like Wayfair\nDigital goods: Products transferred electronically, such as iTunes + Shutterstock\nNiche: More limited than the vertical model, covering a specific product category, such as StubHub\nServices: Focused on pure service offerings \u2013 think Uber and Airbnb\nTo determine which option or combination of options is the best fit for your organization, you need to assess the relative strengths and weaknesses of each approach.\nTo make this assessment, first it\u2019s necessary to identify your strategic goals, like:\nLaunching new products or services\nGrowing revenues\nAcquiring new customers\nIncreasing operating and profit margins\nPositioning and differentiating for a competitive edge\nAcquiring sellers\n \nAutomotive aftermarket e-commerce: A $1.38 trillion opportunity\n   Automotive aftermarket projections are booming \u2013 meaning suppliers and distributors must activate e-commerce offerings to compete with big retailers.  \nReal-world examples: The marketplace model in action\nLeading enterprises across industries are putting the marketplace model and its variations into action.\nHere are some real-world use cases that illustrate what\u2019s possible:\nCombine the horizontal +\u00a0vertical options to enhance experiences and provide one-stop shopping for your customers. With a holistic solution and hybrid approach, you can increase web traffic and expand e-commerce activity. You can grow product catalogs and assortments, improve promotions, and conversion rates \u2013 and smooth and speed supplier onboarding to help make it all happen.\nThe niche model is ideal for meeting the global supply chain challenges of extremely complex product offerings with a high number and variety of components and parts. You can fend off retail competitors by creating a digital ecosystem and third-party marketplace that make it easier for customers to find what they need. At the same time, you can control inventory levels and costs while managing and optimizing multiple supplier relationships.\nGo vertical to eliminate manual, outdated sales processes, such as phone calls and offline transactions, and bring e-commerce to a previously untapped part of your market. And by digitalizing buying, you can improve visibility into markets and segments and offer retail-grade experiences. Crucially, a digital marketplace approach helps you avoid conflicts with existing channels while improving product delivery times and assortments \u2013 as well as customer acquisition, satisfaction, and sales.\nLearn more about how the accelerating pace of e-commerce has changed B2B buying and see examples of what companies in the automotive and other industries are doing.\nMoving your industry or organization down the road of digital transformation requires structured frameworks and playbooks, but it\u2019s worth it once you arrive at your destination.\nRev up revenue + customer loyalty. Discover how digital tech is transforming the auto industry HERE.","author":{"@type":"Person","@id":"https:\/\/www.the-future-of-commerce.com\/2021\/11\/10\/e-commerce-auto-suppliers-examples-marketplace-model\/#Article_Person","image":{"@type":"ImageObject","@id":"https:\/\/www.the-future-of-commerce.com\/2021\/11\/10\/e-commerce-auto-suppliers-examples-marketplace-model\/#Article_Person_ImageObject","url":"https:\/\/23x6xj3o92m9361dbu2ij362-wpengine.netdna-ssl.com\/wp-content\/uploads\/2019\/07\/Sebastien-Trahan-150x150.jpg"},"name":"Sebastien Trahan","sameAs":"https:\/\/www.linkedin.com\/in\/sebastientrahan\/","url":"https:\/\/www.the-future-of-commerce.com\/contributor\/sebastien-trahan\/"},"dateModified":"2021-11-10T06:17:51+00:00","datePublished":"2021-11-10T06:05:57+00:00","description":"The marketplace model is transforming industries, from e-commerce for auto suppliers to electric utilities. Discover the benefits + examples.","headline":"E-commerce for auto suppliers: Marketplace model transforms industry","image":{"@type":"ImageObject","@id":"https:\/\/www.the-future-of-commerce.com\/2021\/11\/10\/e-commerce-auto-suppliers-examples-marketplace-model\/#Article_ImageObject","height":"630","url":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2021\/11\/e-commerce-auto-suppliers-ftr-1-1200x630.png","width":"1200"},"mainEntityOfPage":"https:\/\/www.the-future-of-commerce.com\/2021\/11\/10\/e-commerce-auto-suppliers-examples-marketplace-model\/","name":"E-commerce for auto suppliers: Marketplace model transforms industry","publisher":{"@type":"Organization","@id":"https:\/\/www.the-future-of-commerce.com\/","additionalType":"https:\/\/www.wikidata.org\/wiki\/Q1193236","description":"Relevant, timely information & analysis on commerce trends, both consumer-facing and B2B.","logo":{"@type":"ImageObject","@id":"https:\/\/23x6xj3o92m9361dbu2ij362-wpengine.netdna-ssl.com\/wp-content\/themes\/hybris_foc\/assets\/images\/layout\/logo-new-2x.png?_=1","height":"96","url":"https:\/\/23x6xj3o92m9361dbu2ij362-wpengine.netdna-ssl.com\/wp-content\/themes\/hybris_foc\/assets\/images\/layout\/logo-new-2x.png?_=1","width":"500"},"name":"The Future of Customer Engagement and Experience","sameAs":["https:\/\/podcasts.apple.com\/us\/podcast\/a-call-for-a-better-experience\/id1479742201","https:\/\/twitter.com\/FutureOfCEC","https:\/\/www.linkedin.com\/groups\/4844282","https:\/\/www.the-future-of-commerce.com\/feed\/"],"url":"https:\/\/www.the-future-of-commerce.com\/"},"url":"https:\/\/www.the-future-of-commerce.com\/2021\/11\/10\/e-commerce-auto-suppliers-examples-marketplace-model\/#Article"},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"2021","item":"https:\/\/www.the-future-of-commerce.com\/2021\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"11","item":"https:\/\/www.the-future-of-commerce.com\/2021\/\/11\/#breadcrumbitem"},{"@type":"ListItem","position":3,"name":"10","item":"https:\/\/www.the-future-of-commerce.com\/2021\/\/11\/\/10\/#breadcrumbitem"},{"@type":"ListItem","position":4,"name":"E-commerce for auto suppliers: Marketplace model transforms industry","item":"https:\/\/www.the-future-of-commerce.com\/2021\/11\/10\/e-commerce-auto-suppliers-examples-marketplace-model\/#breadcrumbitem"}]}]