Regardless of the industry in which your company operates, you should know that sales channels are gateways to customers. Gone are the days when to buy in a store, the customer had to go there, today the purchase can be made through channels such as social media, e-commerce, marketplace, among many others, such as collaborative commerce.
The shopping experience today generally occurs at six points of contact. However, according to a study published by V12data, currently 55% of companies do not have a cross-channel strategy, or as it is also known: cross-channel.
Companies that do have this cross-channel strategy applied in their business, can have a lifetime value up to 30% higher when the shopping experience is unified.
In this article we will talk about how collaborative collaborative commerce and how your business can integrate this concept into your strategy and expand your market reach.
What is Collaborative commerce?
Also known as C-commerceit is a form of commerce based on the exchange of services, using technology to integrate different businesses among companies, strategic partners, suppliers, and customers, all within a trading community.
To enable collaboration between parties, compatible software tools are used in the distribution and supply chain to source products, make transactions, or complete interactive business processes.
O collaborative commerce is also used to integrate channels, expand market reach, and ultimately optimize operations.
Example of a Collaborative commerce platform
In the market today, there are several platforms that work with this concept, such as VTEX platformthat offers a digital ecosystem of collaboration between customers and suppliers, aiming to offer a rapid increase in business revenue. Some of the benefits are:
- Connection between customers and sellers through a network of more than 2000 VTEX stores in over 30 countries.
- Creation of your own marketplace through an efficient structure, being able to add suppliers, brands, etc.
- Extend your reach, selling on various marketplaces native to the VTEX platform or partner marketplaces such as Amazon, Submarino, Magalu, etc.
Some of our customers have used collaborative commerce to boost operation growth and increase brand reach, for example:
OnStores, an online shopping mall complex, used VTEX native marketplace solutions and relied on Codeby's technical support to develop a digital environment that allows the user to browse the shopping sites of the 6 malls in the network and buy from partner retailers in a single checkout with comfortable delivery options to the consumer. The structure is all integrated into a single environment providing more convenience and a holistic experience to the customer.
Corpo Ideal (Ideal Body)
Corpo Ideal, a national brand specialized in food supplements, saw the opportunity to innovate and increase the reach of the brand using the marketplace as an important part of its strategy.
To increase the participation of the brand in the segment, Corpo Ideal transformed its e-commerce into a niche marketplaceIn order to increase the participation of the brand in the segment, Corpo Ideal transformed its e-commerce into a new channel, allowing other sellers to use the channel, thus increasing the product mix.
Extrafama is a company in the pharmaceutical sector that invested heavily in online channels during the pandemic scenario.
The brand recently evolved its website into a marketplace, allowing it to integrate its physical stores with online through regionalization. This strategy served to deliver more convenience to the customer, as they have delivery, payment, and discount options, customized according to the region or stores near their location.
Why is collaborative commerce important for your business?
Collaborative commerce allows you to reduce costs and increase sales by expanding product assortment and reaching new customers. In addition, by choosing to transform your e-commerce into a marketplace and allow additional brands and product categories in your portfolio, your operation eliminates or greatly reduces inventory and supply chain costs.
As in the examples above, you can
- Increase your product mixIncrease your product mix by teaming up with suppliers and partner brands;
- Connect with other vendors Connect with other sellers through a network ecosystem and marketplaces, to reach new customers;
- Increase your reach even further by further increase your reach by distributing your products on well-known marketplaces such as Amazon;
- Integrate sales from your physical stores with the online environment, bringing more convenience to the customer and reducing logistics costs.
Now that you understand the concept of collaborative commerce, and the benefits for your business, contact us to find out what this strategy can do for your business.