If Shopify Is To Create A Marketplace, It Should…

Marketplaces
Written By Rick Watson

Hypothetically, Let's take it as a given that Shopify will build a marketplace for a moment.

Here are a few things they could do:

  1. Start with marketing instead of a marketplace. Focus on loyalty-based triggers, sponsored by Shopify, that will introduce Shop Pay consumers to new brands and products at various points in the marketing lifecycle. Brands could co-sponsor.

  2. Keep it mobile-only. The Shop app was renamed for bigger ambitions. They ALREADY kind of have a marketplace in there where you can view shops and products around you. Expanding this to local businesses of any kind would be unique and differentiated.

  3. They are missing two massive things to build a marketplace. One is product data. The other is traffic. They need to pick a niche where product data needs are low, merchant concentration is high, and uniqueness is missing.

  4. Deeply partner with one of the big social players. Facebook, Instagram, Tiktok, even Pinterest They are some light partnerships here, but nothing substantial. They won't produce much. This could help them solve their traffic problem to any new marketplace offering they introduce.

  5. Partner with eBay. There I said it. It could be intriguing. eBay Stores are straight terrible, what if Shopify took over this whole function?

Rick Watson

Rick Watson founded RMW Commerce Consulting after spending 20+ years as a technology entrepreneur and operator exclusively in the eCommerce industry with companies like ChannelAdvisor, BarnesandNoble.com, Merchantry, and Pitney Bowes.

Watson’s work today is centered on supporting investors and management teams incubating and growing direct-to-consumer businesses. Most recently, in partnership with WHP Global, Rick was a critical resource in architecting the WHP+ platform, a new turnkey direct to consumer digital e-commerce platform that powers AnneKlein.com and JosephAbboud.com.

Watson also hosts a weekly podcast, Watson Weekly, where he shares an unbiased, unfiltered expert take on the retail sector’s biggest players.

In the past year alone, Rick has spoken at many in-person and virtual events as well as podcasts on topics ranging from retail/ecom to supply chain/logistics and even digital grocery including CommerceNext IRL, ASCM Connect, and Retail Innovation Conference.

https://www.rmwcommerce.com/
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