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Why all businesses should consider a multi-merchant marketplace
Multi-merchant marketplaces are here to stay. They allow marketplace owners to earn revenue from 3P merchants and by selling their own products.
Multi-merchant marketplaces are imperative for future success, and benefits accrue to the winners
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According to Gartner Research, by 2023:
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15% of medium- to high-GMV digital commerce organizations will have deployed their own marketplaces, thereby creating an entirely new digital ecosystem
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30% of enterprise marketplaces will transition to a majority third-party seller (3P) model for better profitability
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Overall, the trend is that all commerce businesses will either be owning their own marketplace and collecting commission revenue, or selling on other marketplaces and losing valuable commission revenue
Multi-merchant marketplaces are an easy way to leverage brand equity and drive revenue growth
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According to Gartner Research, by 2023:
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Organizations that have operated enterprise marketplaces for more than one year will see at least 10% increase in net digital revenue
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Top brands are embracing multi-seller marketplaces with great success, including: H&M (afound), Walmart, Best Buy, and more.
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3P merchants allow businesses to earn commission revenues at almost zero cost, and by using Harmony businesses can outsource the entire operations process
Multi-merchant marketplaces allow businesses to meet evolving customer demands
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Customers in the digital age have increasingly higher expectations for customer experience, product availability, and convenience
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Businesses can leverage Harmony to keep up with customers by doing the following:
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Access the Harmony merchant network to offer a wide range of products, while earning commission revenue on every sale
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Leverage Harmony’s marketplace platform to provide a best-in-class shopping experience, while also staying on the leading edge of new technology trends
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Multi-merchant marketplaces do not have to be costly or operationally burdensome
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With Harmony’s marketplace platform, even businesses that do not have a digital presence can deliver digital experiences in weeks, not months
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Harmony can guide you through the entire process, from platform design to customer support, to 3P merchant management, and more
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Harmony can operate the marketplace on your behalf, reducing your stress and allowing you to sit back and watch your business grow
