BigCommerce and Marketplacer Announce Strategic Partnership to Help Retailers Accelerate Growth
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Insights
The strategic partnership between BigCommerce and Marketplacer marks a significant development in the ecommerce platform space. This collaboration is poised to enhance the capabilities of BigCommerce's platform by integrating the multi-vendor marketplace functionality provided by Marketplacer. By enabling BigCommerce customers to expand their single-store operations into multi-vendor marketplaces, the partnership could potentially increase the average order value and customer lifetime value due to a broader product offering and improved customer experience.
From a market research perspective, this move aligns with the growing trend of ecommerce platforms seeking to provide more comprehensive solutions to meet the evolving needs of merchants. The integration of marketplace features is a strategic response to the competitive pressure from other major players like Shopify and Magento, who are also expanding their services. By offering a seamless transition to a multi-vendor model, BigCommerce is likely to attract new customers and retain existing ones looking for scalable growth opportunities.
However, the success of this partnership will largely depend on the execution and the ability of BigCommerce to ensure a smooth vendor onboarding process, effective quality control and maintaining a consistent user experience. The impact on BigCommerce's revenue will be contingent on the adoption rate by its current customer base and the attraction of new marketplace-oriented merchants.
The partnership between BigCommerce and Marketplacer can be seen as a strategic move to capitalize on the shift towards marketplace models in the ecommerce sector. Marketplaces offer a unique value proposition by aggregating diverse sellers, which can lead to increased traffic and a wider array of products. This could result in enhanced customer retention and acquisition for BigCommerce users, as marketplaces tend to be more of a destination for consumers due to their variety and convenience.
For businesses operating on BigCommerce, the Marketplacer Connector could reduce the barriers to expanding their ecommerce strategy. It simplifies the process of becoming a multi-vendor platform, which traditionally involves significant development work and capital investment. By lowering these barriers, BigCommerce is enabling even small to medium-sized businesses to explore new revenue streams without the need for extensive technical resources.
However, it is important to consider the potential challenges such as increased competition among sellers, the need for effective dispute resolution mechanisms and the complexities associated with managing multiple vendors. Businesses will need to weigh the benefits of increased exposure against the potential dilution of their brand and the additional operational complexities.
The announcement of the partnership between BigCommerce and Marketplacer is likely to be scrutinized by investors for its potential to drive revenue growth and profit margins. The ability for BigCommerce customers to scale up through a multi-vendor marketplace model could serve as a catalyst for increased sales volumes and, by extension, higher transaction fees collected by BigCommerce.
Investors will be keen on monitoring the uptake of the Marketplacer Connector and its subsequent impact on BigCommerce's financial performance. Key metrics to watch would include the growth rate in the number of marketplaces launched, the increase in Gross Merchandise Volume (GMV) across these marketplaces and the customer retention and acquisition rates post-implementation. A successful rollout could lead to upward revisions in revenue forecasts and potentially enhance BigCommerce's market valuation.
However, the financial implications will not be immediate and will depend on the speed of adoption among BigCommerce's existing customer base, as well as the platform's ability to attract new customers with the promise of easily creating multi-vendor marketplaces. Additionally, the long-term financial impact will hinge on how effectively BigCommerce can monetize the additional services and manage the increased operational complexities that come with supporting marketplace ecosystems.
New BigCommerce Marketplacer Connector enables customers to transform single-store operations into fully functional multi-vendor marketplaces to increase sales and maximize revenue
BigCommerce customers will now be able to transform their online stores into powerful marketplaces where they can sell more diversified products and provide seamless shopping experiences that drive conversions and accelerate growth.
“We’ve been watching the impressive trajectory and evolution of BigCommerce for a long time, and we’re very excited about this new relationship and the impact it will have on our shared customers,” said Jason Wyatt, CEO and co-founder at Marketplacer. “The powerful combination of Marketplacer and BigCommerce allows customers to access a modern full-stack solution for their ecommerce platform.”
The BigCommerce Marketplace Connector, developed by BigCommerce agency partner Web Force 5, opens the opportunity for customers to allow third-party sellers to list and sell their products directly from their BigCommerce stores. When connected, all seller data is automatically synced almost instantly, enabling customers to manage multiple sellers – each with distinct products, catalogs and more – while simultaneously harnessing the best-in-class capabilities of both the ecommerce and marketplace platforms.
Recognizing the immense potential of a connected marketplace, Australia’s leading design outlet, The DOM, approached Web Force 5 to integrate its existing Marketplacer platform into its BigCommerce store. The DOM enhanced its marketplace functionalities, delivered near-real time data updates, ensured a seamless workflow integration of its 100+ sellers and improved overall performance and reliability for a solid customer experience.
"We are thrilled with the launch of our new BigCommerce front-end, the first to be connected to Marketplacer,” said Phil Read, chief operating officer at The DOM. “Our experience working with Web Force 5 as our development partner has been exceptional. The team displayed a remarkable level of collaboration, transparency, and attention to detail, surpassing our expectations. Despite tight timelines, the project was managed with clear communication and a true sense of partnership."
The BigCommerce Marketplacer connected model allows customers to expand without boundaries – turning suppliers into sellers and adding hundreds or thousands of new products to the site without the burden of managing inventory and warehousing requirements nor disrupting shopping or delivery experiences. Key benefits include:
- Fast Syncing. Near real-time synchronization automatically shares seller profile, products, inventory, pricing, orders, promotions, shipping and more to provide a streamlined experience for sellers, buyers and operators.
- Cross-border Scalability. Localize and manage multi-site, multi-currency and multi-language experiences to grow sales in new regions and drive growth.
- Low Coding. Minimal code, point-and-click approach minimizes the need for costly development work, accelerating implementation, reducing costs and allowing for faster time-to-market.
- Rapid Data Exchange. Webhooks deliver near real-time updates to ensure data changes, product details, pricing inventory levels and vendor information are accurately reflected across platforms – building brand trust and repeat business.
- MACH-Aligned API. Best-of-breed technology integrations adhere to MACH principals to ensure agility, innovation and a high-level of interoperability.
"At BigCommerce, our core focus is providing our customers access to the best tools and services they need to innovate and succeed – and that includes industry-leading solutions from partners like Marketplacer and Web Force 5," said Shannon Ingrey, vice president and general manager of APAC at BigCommerce. “Our collaboration to provide The DOM with the exact integrations needed to reach customers, grow sales and customize the shopping experience has been a tremendous example of what a North Star partnership should be when putting the customer first."
Click here to learn more about how the BigCommerce Marketplacer Connector works and the benefits of a connected marketplace.
About BigCommerce
BigCommerce (Nasdaq: BIGC) is a leading open software-as-a-service (SaaS) ecommerce platform that empowers brands and retailers of all sizes to build, innovate and grow their businesses online. BigCommerce provides its customers sophisticated enterprise-grade functionality, customization and performance with simplicity and ease-of-use. Tens of thousands of B2C and B2B companies across 150 countries and numerous industries use BigCommerce to create beautiful, engaging online stores, including Ben & Jerry’s, Molton Brown, S.C. Johnson, Skullcandy, Solo Stove, Ted Baker and Vodafone. Headquartered in
BigCommerce® is a registered trademark of BigCommerce Pty. Ltd. Third-party trademarks and service marks are the property of their respective owners.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240108138348/en/
Dana Marruffo
dana.marruffo@bigcommerce.com
Source: BigCommerce
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