Retail
8
min of reading
August 12, 2022

Marketplaces: a business model that has transformed retail

Willian Pereira
Content and Communication Analyst
Journalist and content creator for websites, blogs, social media and other digital channels.
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With the explosion of success of eBay in the 90s and the popularisation of Amazon a little later, marketplaces initially established themselves in the United States and gradually gained space around the world. Today, they are already a consolidated business model and fundamental for any company in the retail sector.

As virtual shopping has exponentially increased during the Covid-19 pandemic, large, small and micro retailers have seen in marketplaces more than just a survival alternative, but an innovative and indispensable ecosystem for the continuity of operations.

According to data from E-bit/Nielsen, the company responsible for measuring the reputation of virtual stores and data for the online market, 78% of total Brazilian e-commerce revenue came from marketplaces in 2020. In addition, a survey carried out in the second half of 2021 by Bornlogic and Opinion Box pointed out that marketplaces have 72% of the preference of Brazilian users when buying online - they are second only to purchases via websites and online stores (74%).

At APIX 2022, an annual event organised by Sensedia that connects IT professionals from around the world for strategic discussions on the main trends in APIs, technology and business models, the use of ecosystems in the growth of marketplaces and in boosting revenue was the agenda of a panel of the face-to-face day, which took place at the WTC, in São Paulo.

The discussion included Evandro Pires, head of technology at Senior Sistemas; Fernando Diniz, CTO at Petz; and Leandro Silva, corporate architecture coordinator at C&A.

During the conversation, the experts highlighted the use of ecosystems as a crucial factor to leverage omnichannel strategies and further strengthen the user experience, offering a purchase journey that is fully integrated into the ecosystem.

“More than short-term financial gains, it's the customer experience to interact with the company through all channels. It starts on the web, goes to the mobile and picks up the product at the store. This experience can leverage the business as a whole. We can see revenue growth in all channels: physical and digital”, highlighted Leandro Silva, from C&A, a multinational specialised in fashion retail products and financial services.

The use of data to generate value and the Internet of Behaviour

A unified system that analyses collected data from a behavioural psychology point of view, combining diverse sources and individual data that reflect people's activity, such as personal devices and behaviour on social networks. This is the definition of Internet of Behaviours (IoB), given as a logical next step in technological evolution and treated as the #1 trend by Gartner in the report Gartner Top Strategic Technology Trends for 2021.

The concept is remembered by Evandro Pires, from Senior Sistemas, a technology company specialised in management solutions.

“Markets can explore this very well, as they can learn about the various purchases made by this consumer on the platform. It's getting to know the consumer, collecting all their behaviour and using this to provide feedback with purchase suggestions, for example”, he highlights.

With so much data from so many different channels at your disposal, knowing how to handle it can completely transform a retail business. It is the opportunity that knocks at the door.

“We can identify the customer's consumption profile, profiles similar to these users and differentiate geographic consumption. For example, the consumption profile in the Northeast is different than in São Paulo. In the Northeast, it is more common for the customer to pick up the item at the store, so I can give an additional discount for that”, says Fernando Diniz, from Petz, the largest platform of solutions for pets in Brazil.

Watch the full panel

The panel “Using Ecosystems in Growing Marketplaces and Boosting Revenue” and the entire APIX 2022 schedule are now available for free. Click here and access all content.

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