, George said smaller companies can also expand with a marketplace, doubling down with an audience-centered approach.
“Whether they are a retailer, an influencer, a celebrity or whatever, whoever is wanting to capitalize on their audience, we can bring product into their site, which they can then sell without having to own that inventory,” George said. “When the order takes place, it drives through our technology to the brand and the brand ships directly to the consumer. It’s kind of next generation drop-shipping.” “The end consumer has no engagement with any third-party suppliers,” George said.
“They’re all solving for slightly different needs but in all the one thing that does unite them is that they are all looking to increase assortment, increase conversion,” George said. “In some cases you could be actually moving existing brands into marketplace, so you actually don’t buy as much inventory from those brands,” he said. “Other cases, you have a certain amount of inventory that you can buy but, if you offer more colors in this one style, you may be able to gain additional sales.”
That turns at least part of the traditional wholesale approach on its head, but George said profit margins end up being about the same. “Bandier is a trusted retailer with a specific audience that they built through their assortment, through their catalogue,” George said. “Bandier has many, many brands. And so the question for Bandier over time is, if you have a hundred brands, if you have 200 brands, do you need to keep all 200 brands in inventory in a warehouse? I think the answer is no.
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