It can be a struggle for brands and suppliers to effectively manage their presence across online marketplaces and channels. The consequences are fragmented customer experiences and lost sales. A marketplace operator is only as good as the quality of its supply. In “The Total Economic Impact of Rithum Managed Marketplaces” study, published in February 2024, interviewees’ said that Rithum stands out as a strategic partner.
Rithum’s Commerce solutions reduces the risk associated with a large undertaking like expanding to multiple digital marketplaces. They said that Rithum has established relationships with marketplace partners. Rithum also has a roadmap that actively extends those relationships to emerging marketplaces.
“Expanding into a new marketplace can feel like charting unknown territory. While it presents exciting opportunities, it can also bring new challenges for brands and suppliers alike. A platform that can unify the shopping experience across every touchpoint is key to success.”
– Pete Elmgren, Chief Revenue Officer, Rithum
Why Rithum’s high-quality relationships with marketplaces are valuable
“Expanding into a new marketplace can feel like charting unknown territory. While it presents exciting opportunities, it can also bring new challenges for brands and suppliers alike. A platform that can unify the shopping experience across every touchpoint is key to success,” said Pete Elmgren, Chief Revenue Officer at Rithum. “Rithum’s value is twofold – we’re experts in the digital marketplace and a trusted partner that empowers businesses to turn expansion into opportunity with a seamless connection between retailers and suppliers.”
Also, the collaborative relationship between interviewees and Rithum is another benefit. Rithum recommends new channel opportunities to managed marketplace customers. Brands do not need to undertake extensive research and relationship building independently.
Expand to more channels that make sense
Expanding to more sales channels without a strategy is not necessarily more profitable. Interviewees said that brand strategy and marketplace profitability determine how many their organizations should add to their programs along with which ones.
This is a complex process. Rithum minimizes product cannibalization, protects brand perception, and offers the largest opportunity to gain market share, according to the study. The organizations evaluated the purpose of each market. This included whether to expand to eBay as a liquidation channel and Amazon as a premium channel.
Brands and suppliers can expand into new geographies through Rithum’s ecommerce platform. Interviewees noted that Rithum reduced the complexity and effort needed to expand to channels in other countries. Global expansion is made quicker through Rithum, according to the VP of global digital product and consumer experience at a footwear retailer.
“If we think about it, even though we don’t have an owned experience in those markets, we can leverage an integration [and] sell there.”
Read the full study and try the ROI calculator for brands here.
