Business Fortune
Marketplacer is a global technology platform-as-a-service (PaaS) provider offering the features and tools required to rapidly create scalable and profitable online markets. By implementing marketplace strategies like shipping from third-party sellers, expanding the range of third parties, creating new categories, merging markets, and introducing cutting-edge revenue models like recurring memberships that enable businesses to expand faster and beyond capital inventory limitations, the Marketplacer platform aims to simplify growth.
Senior Vice President of Marketplacer's North America, Richard Hankin, discussed how his organization is enabling the world's most popular marketplaces in an exclusive interview with Business Fortune.
Interview Highlights
What level of expertise does the Marketplacer team have? And what benefits do they offer the business?
Our creator, Jason Wyatt, and his longtime industry buddy, Sam Salter, began it in the cycling business, where they saw a multitude of dispersed independent retailers, global brands, and a highly active community of riders who wanted to purchase, sell, trade, share, and interact. They collaborated to create the technology that allowed BikeExchange to unite them all under one roof.
We realized that this "marketplace mentality" may help other communities, sectors, and businesses after years of testing, observing, and improving that technology. Marketplacer envisions a world free from inventory and conventional e-commerce restraints, with the goal of assisting B2C companies in expanding quickly and significantly.
We have now developed, owned, and operated markets across numerous industries and geographies for over 100,000 hours. We power over 100 marketplaces, fuel over 15,000 vendors, and have clients in ten countries. We accelerate commerce. Prominent companies in the sector, such as Adobe, eBay, IBM, Salesforce, and Walmart, are among the alumni of our executive team.
Which areas are you concentrating on?
Some of the biggest conventional companies in the world, including Myer, Woolworth's, and Optus, are collaborating with us to change into marketplace-driven firms that sell third-party goods in addition to their first-party stock. Our goal is to become the world's most dependable and integrated commerce technology.
The marketplace concept appears to be the e-commerce industry's next big thing. At Marketplacer, we believe that commerce is what matters most and that e-commerce strategies and omnichannel approaches are outdated. a flawless shopping experience whether you're making a digital or in-person purchase.
How can the solutions created by Marketplacer boost sales and create scalable, profitable online marketplaces?
Retailers are aware of the major marketplaces, such as Amazon, eBay, and Etsy, but they frequently are unaware of how adaptable and versatile the marketplace concept is for a variety of business models. This is where Marketplacer comes in. We collaborate with companies to offer the technology required to quickly and efficiently establish a marketplace of any scale in order to generate new revenue streams.
A frequent misperception is that a company can sell through an already-existing marketplace rather than creating their own. For almost any e-commerce company, a marketplace is a logical and seamless addition that gives the merchant complete control over the consumer journey.
Our vast expertise in creating, owning, and operating markets across several regions has enabled us to develop tried-and-true processes and technological solutions. The Marketplacer platform offers you a comprehensive technological partner to start your marketplace. It is feature-rich, modularly constructed, and interfaces with multiple partner systems. Retailers use our platform, which is designed in modules, to build the perfect marketplace and grow their businesses. They choose from the appropriate module, which may include options for events, holidays, services, goods, or a mix of these.
What new projects is Marketplacer working on right now?
Whether it's our platform features for our merchant sellers or marketplace operators, collaborating with partner integrations and top commerce platforms, Marketplacer never stops developing. We currently take great satisfaction in making it easier for marketplace operators to find and add sellers. We are still investing in this area because it presents the greatest challenge to a merchant trying to quickly and widely implement a marketplace strategy. With notable customer victories and important senior management additions, we also keep up our aggressive market penetration in the United States.
Considering how often things change, what transformational strategies are you working on to stay relevant both today and in the future?
Our primary purpose is to enable merchants to be game changers. We believe that the leading future commerce model is what we are investing in. Our company involves assisting shops in transforming their present products to meet client requests. This entails transforming a supplier into a community of sellers and a merchant into a destination. Since there is no one-size-fits-all approach to marketplace strategy, our platform is adaptable and versatile in the ways that firms can use it.
Trends in market data make it evident that merchants are rapidly moving toward a marketplace model. In the upcoming years, we anticipate this to pick up speed. For this reason, we're constantly coming up with new strategies to make the technical procedures needed for businesses to launch a marketplace easier and more efficient.
Richard Hankin: An Effective Executive
Since 2020, Richard Hankin has managed sales for Marketplacer in the APAC area and is currently in charge of sales for North America. He joined Marketplacer at their global headquarters in Australia. Marketplacer facilitated the establishment of over 100 cutting-edge markets, such as Woolworths, Singtel Optus, and others, under his direction. His guidance has influenced a wide range of organizations, including restaurants, sports teams, airlines, and more, by broadening the way that firms view markets.
