It’s an ongoing quandary for many retailers – how do you promote your proprietary store brands alongside the range of other brands that together are key to your success? While trends come and go and retailers are always adjusting and shuffling brands in and out, building enthusiasm and loyalty around store brands is an ever-present goal.
For retailers looking to distinguish their unique store brands from their other offerings, a marketplace model is the ideal platform to build a loyal customer community.
Marketplace technology, which is now easily accessible and affordable in a way it wasn’t just five years ago, is not simply a way to offer merchandise from third party suppliers. It can also be a powerful tool for building brand engagement, enthusiasm, and loyalty when done right.
Store brands, who lack exposure in multiple retailers, and can’t rely on other marketing muscle (or spend), a marketplace model, as part of an integrated commerce strategy builds community, amasses new and returning customers and promotes one’s unique brands, above the competition.
Shoppers Come for the Products, Stay for the Experience
For brands and retailers, extending product range is a chance to boost revenue, but it’s also a chance to show your customers you're listening and build brand loyalty. Offering an expanded, curated product range, but not a limitless selection, through an owned marketplace is a great way to recognize your customer’s needs as well as collect critical data. When curated to their lifestyles, the right selection makes shoppers feel like you’ve built the product assortment with them in mind.