Marketplacer, a platform that enables brands, retailers, suppliers, communities and innovators to build and grow online marketplaces at scale, has been recognised in the Gartner Hype Cycle for Digital Commerce 2022 as a sample vendor in the enterprise marketplaces category.
“Marketplacer is pleased to, once again, be included in the Gartner Hype Cycle for Digital Commerce as a sample vendor for enterprise marketplaces,” says Marketplacer Co-Founder and Executive Chair Jason Wyatt.
“This year we can clearly see the industry tipping point. It is about to push the marketplace model into mainstream adoption by Australian and international retailers as they seek to drive growth and revenue, improve efficiency and optimise the digital experience for their customers.”
Hype Cycle reports are the second most widely referenced Gartner research behind Magic Quadrants. These are designed to help application leaders assess a wide range of commerce technologies to support their commerce-related investments.
In the Hype Cycle reports, the enterprise marketplaces are highlighted as adolescents in maturity and demonstrate a high growth future, with mainstream adoption expected in the next two to five years.
The Gartner report defines enterprise marketplaces as "digital channels operated by B2B or B2C sellers, which invite third-party sellers to sell directly to end customers."
"Marketplace operation applications provide the technology to enable enterprise marketplaces by allowing operators to manage seller onboarding, product catalogues, order routing and management, and seller compliance with marketplace policies," it adds.
The report further states, “Enterprise marketplaces offer benefits such as increased assortment, improved customer experience and stickier shopping destinations. They also enable companies to shift their business models from linear digital commerce to a platform business. As marketplaces grow, marketplace operators can transition to digital business by owning the digital ecosystem and creating digital revenue."
Notably, in 2020, enterprise marketplaces were cited as "increasing interest during COVID-19 as many organisations hastened to launch or expand digital commerce presence as sales from physical channels dried out."
In 2022, Gartner's Hype Cycle report highlights additional factors and potential benefits that have emerged, driving companies to invest in enterprise marketplaces.
Marketplace operators benefit from enriched product offerings, expanded assortments and the ability to test new products via third-party sellers before offering products as a first-party seller. Thus, organisations using drop-shippers can move non-strategic items to the marketplace to improve the performance of the core business.
Collecting commissions or fees from the sale of third-party products helps operators transition to a digital business model. This helps them mitigate risk from future disruptions or reduced demand for their first-party products.
Additionally, business buyers benefit from reduced procurement costs. They can now obtain different products in multiple categories from a single marketplace.