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Catch the wave! B2C marketplaces - A strategic growth channel for brandsJuly 2018Management summaryMarketplaces have been growing strongly in the B2C world over the last years. Pure players from China and the United States are dominating the landscape. And the waves of this business model are getting even biggernullas they are now enullending from retailers to all players that own trafficnullsuch as brands or social media companies. nulle secret recipe for marketplace growth includes three ingredientsnulltrafficnullservices and data to improve cus nulltomer satisfaction. As only some generalists and vertinullcals per category will survivenullthe race is on. nullor brandsnullthis means shifting their attention to mar nullketplaces either by starting to sell on them or opening up a marketplace themselves. nullgital distribution renulluires mastery of competencies different to that of the wholenullsale world nulland brands now need to develop this skill set nulluickly. nulloing one step furthernullall distribution channels of a brand need to be handled differently in the future null shifting from channel thinking to customer thinking.Given the strong growth of marketplaces, its operators gain customer control and can extend their influence along the value chain, leaving brands no choice but to ride the wave as well.2 Roland Berger Focus B2C marketplaces - A strategic growth channel for brandsContents1. B2C marketplaces are already creating big waves .4A leading, fast-growing channel fueled by traffic, services and data.2. How to ride the wave of B2C Marketplaces .8A modular way forward.Coverphoto: Shannon Stent / IstockB2C marketplaces - A strategic growth channel for brands Roland Berger Focus 3Chapter 1:B2C marketplaces are already creating big waves A leading, fast-growing channel fueled by traffic, services and data.4 Roland Berger Focus B2C marketplaces - A strategic growth channel for brandsA DOMINANT CHANNEL MASTEREDBY ONLY A FEW GLOBAL PLAYERSnullline marketplaces are not a new phenomenon in the B2C world. Manullor players such as nullaobaonull Amanullonnull nullmallnull null and eBay have already invested into this channel. nulley are either pure marketplace players or hybrid mod nullels nullholesale and marketplacenulland account for over nullnullof the global enullcommerce gross merchandise value nullMnull. null different waysnullthey saw the marketplace wave coming and are now successfully surfing on it. Around the worldnullAsia is the more mature market. nullerenullnearly nullnullof the enullcommerce purchases are made on a marketplace compared to about nullnullin the United States. null nullropenullthe penetration variesnullfrom 2null in nullance to nearly nullnullin the United nullngdom. null nullterestinglynullno nullropean player has been able to domi nullnate its local marketnullAmanulln and eBay have taken overnullas they did in the US. null Chinanullplayers like nullmall and null dominate the market landscape.nullile the future of the marketplaces is looking brightnull many brands have not converted their model yet and are still relying on the traditional wholesale business. nulle latter has lost its supremacy in enullcommerce to the marketplace modelnullhaving become the growth driver for the overall market null2nullnull ATHE POWER SHIFT TOWARDS MARKETPLACES BOOSTS THEIR INFLUENCE FURTHERMarketplaces are designed to give brands more control over the value chainnullsince the brands are now also re nullsponsible for logistics and customer servicenullleaving marketplaces to take care of the transaction. nullis im nullplies operational challengesnullespecially for brands that have up to now only been distributing in wholesalenulland that are not familiar with last mile logistics and customnuller interaction. null also means a negative financial impact for brands because they have more responsibility for the value chain and stock ownership. A: Marketplaces are the driving category in the booming worldwide e-commerce market.Global e-commerce: wholesale and marketplace split GMV, USD Bn, %Source: Euromonitor, Forrester, Statista, Roland BergerMarketplace Wholesale7231,2291,4131,9532014 2021e2018e2017Total +15.3%+21.4%+8.8%CAGR 2014-2021e57%52%48%57%43%62%38%43%B2C marketplaces - A strategic growth channel for brands Roland Berger Focus 5Meanwhilenullmarketplace operators are gaining in pow nuller and taking over customer control. null order for this to happennullthey are trying to build up traffic by adding more productsnulloffering more services and generating more customer data. All thisnullto manullminull customer satisfactionnullthe ultimate key performance indicator nullPnull. BA broad product offering both in breadth and depth is becoming a manullr necessity to ride the wave and win the race for trafficnulland adding marketplaces to the whole nullsale business is a key solutionnullas manullr players like Am nullanulln did in 2nullnulland null ten years later.B: Survival of the biggest: all marketplaces are now engaged in a race for traffic, additional revenue and data to achieve customer satisfaction.A virtuous growth strategy for marketplaces.Source: Roland Bergernullertical players have also been broadening the categonullries offered on a marketplace. nulle enullmple is nullarfetchnullwhich recently added fine nullwelry and lunullry watches to its fashion offer. Marketplace operators are gradually becoming nulletailnullasnullnullervicenullprovidersnulloffering not nullust a platform to generate transaction fees but alsonullincreasinglynullservice fees for logistics and marketing. nulle most wellnullnown enullample is Amanullonnulls logistics service nullnullulfillment by AmanullnnullnullbAnull nullrenullthe brand remains the owner of the stocknullbut the stock is physically located in an Ama nullnulln warehouse and all operational tasks like fulfillmentnullTrafficAdditional servicesCustomer satisfactionCustomer data6 Roland Berger Focus B2C marketplaces - A strategic growth channel for brandslogisticsnull returns management etc. are handled by Amnullanulln. nulle company offers also a variation of this ser nullvicenullcalled nulleller fulfillment PrimenullnullfPnull nullrenull Ama nullnulln takes charge of the last mile logistics for selected sellers. nullenerating and analynullng customer datanullas a third lever to fuel customer satisfactionnullhas been mastered by mainly the Chinese Alibaba and nullencent. Both have crenullated a broad network of partnerships that use their annullchor products Alipay nullayment systemnulland nulleChat nullo nullcial medianullto help develop a granular database on their customers. nullor enullmplenullAlimamanullAlibabasnulldigital marketing armnullprovides innulldepth knownullow on cus nulltomers to its sellers through its nullni marketingnulltoolnullas well as for internal usagenullbased on a unified customer null across all of its platforms in the Alibaba universe.All these measures create a virtuous circlenullmore traffic leads to more customer data and the ability to offer more servicesnullthese in turn improve customer satisfac nulltion and thereby reinforce trafficnullnullis virtuous circle demonstrates three thingsnullmarketplaces are a door to trafficnullthey are enullending their influence on the value chain and are owning the most crucial part of it nowanulldaysnullcustomers and their data.THE FUTURE IS BRIGHT FOR MARKETPLACES BUT NEW ENTRANTS ARE LINING UP, TOOMarketplaces will continue to grow as each participant in the marketplace model nullarketplace operatorsnull brands and customersnullhave an interest in making them bigger. nullor marketplace operatorsnullthis model allows for enullmple to scale nulluickly with a large assortmentnulltest productsnull improve own brands or create synergies with other retail channels. nulleverthelessnullthey must incorpo nullrate the idea of moving from a single transactionnullbased marketplace model to a broader platform approachnull clustering services around the retail business to benullcome a nulletailnullsnullnullervice provider.B2C Marketplaces generate traffic for brands and pronullvide them with a tool to control pricing and collect cusnulltomer data. Additionallynull marketplaces help in internanulltionalinullng nulluickly. But brands need to improve their digital maturity if they want to take advantage of marnullketplaces. At the same timenullthey need to focus on better integrating this channel into the omnichannel networknullto give customers a seamless enullerience.Customers have an interest in marketplaces to enullandnull as they provide a convenient onenulltop shop solution with a broad choice of productsnulllatest trending itemsnull competitive prices and personalinulld offers.As marketplaces are an attractive business modelnullit is not surprising that new entrants nullnotably social com nullmerce platforms null are trying to carve themselves a slice of the cake as well. Manullr social media companiesnullsuch as nullacebooknullnullstagram or nulleChatnullhave integrated a commerce function into their applicationsnullmaking it easy for customers to buy directly with a few clicks prodnullucts that are advertised or recommended.nullis affects marketplaces in two ways. Customer inter nullaction is no longer taking place on the marketplace platnullformnullmeaning that marketplaces are returning to their role as a transaction fulfiller. Andnullthey will need to com nullpete with other enullcommerce channels like a brandsnullown enullhop to be integrated backnullend.B2C marketplaces - A strategic growth channel for brands Roland Berger Focus 7Chapter 2:How to ride the wave of B2C MarketplacesA modular way forward.8 Roland Berger Focus B2C marketplaces - A strategic growth channel for brandsDEFINING THE FUNDAMENTALS OF A MARKETPLACE STRATEGY nullo take advantage of marketplacesnullthe first step a brand must take is to define a clear strategy. Precise obnullctives need to be setnullwill the role of marketplaces be to enter new markets nulluicklynullsuch as Chinanullnull the intent to use them as a lever to improve the omnichannullnel networknullor as a way to sell stocknullnull is then crucial that the criteria for the marketplace model are determined. nullor enullmplenullhow should the brand nullnullA match with that of the marketplacenull nullhich products should be sold on this platformnullnulles the brand want to enter a marketplace or create one itselfnullnull order to operationalinull the marketplace strategy a brand needs to reflect on the tradeoff benulltween make or buynull what it can and wants to internalnullinull or enullernalinull to service providers.nullooking at the creation of a marketplace in more detailnull four different marketplace business models have been identifiednullthe suitability for a brand is depending on its situation and goals. Cnulle firstnulland most common onenullis called nullingle brand enulltensionnullnull in which a brand launches its own marketplace and adds other nullomplementarynullbrands C: Opening up a marketplace can be a useful strategy for brands. Four different marketplace models.Source: Roland BergerBrand / Products CustomerMarketplace operatorBrand productsOther brand productsBRAND1Single brand extensionDistributor products 1Distributor products 2BRAND2Distribution networkLicencee category 1Licencee category 2LICENCINGBRAND3Licensing platformBrand 1 productsBrand 2 productsOther brand productsGROUP4Multibrand platformOther brand productsB2C marketplaces - A strategic growth channel for brands Roland Berger Focus 9Marketplace internationalization strategy: cross-border e-commerce in Chinanullor many nullropean brandsnullselling to China has be nullcome an important strategic obnullctive in order to boost sales and enullpand brand visibility. nullue to legislative renullnulluirements that demand having a local Chinese corponullration if retailing therenullcrossnullorder marketplaces have nulluickly become a popular alternativenullas they facilitate the process to a large enullent. As a resultnullcrossnullorder enullcommerce has ballooned from USnullnull Bn in 2nullnullto an enullected USnullnullnullBn in 2nullnullnullenullt to the renowned nullmall nulllobal nullthe crossnullorder B2C marketplace of nullmallnullbelonging to the Alibaba nulloupnull other players have also established important marketplacesnullsuch as nullola nullnull marketshare in 2nullnullnulla generalist marketplace with a focus on health and wellness products that was launched in 2nullnull30861292018e20162014Source: eMarketerCross-border e-commerce is growing strongly in China.Cross-border e-commerce retail sales in China USD Bn.null nullaohongshu nullnullttle nulled Booknullnulla marketplace ded nullicated to fashionnull beauty and lunullry. nullt started off as a social media channel and has since evolved into a social commerce platform with over nullnullMio users and a series nullfunding round of USnullnullnullMio in nullune 2nullnullnullor selling on nullmall nullobalnulla specific procedure must be followed. nullrstnullthe company defines the fundamen nulltal parametersnullwhich nullmall Partner nullPnullto work with nullmall renulluires working through an accredited agencynull nullich kind of store to open upnullnullich logistics model to choose nullending stock to Chinese warehouses or do nullmestic centersnull nullereafternullthe null will accompany the brandnulltaking over most of the tasksnullsuch as technical connection and integrationnull operationsnullulfillmentnull marketingnullsalesnulland customer service.10 Roland Berger Focus B2C marketplaces - A strategic growth channel for brands
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