ChannelX World will bring together industry professionals engaged in selling on marketplace and social media platforms. Split into three distinct groups, these professionals have different needs:
Merchants – £1m +
Merchants are interested in channels to market both at home in the UK and around the world. Key target areas are the UK, Europe, the US and Australia, but there are many more lucrative opportunities such as China and the Far East and South Korea and the Middle East.
These professionals need the tools to enable integration with the Channels they retail on and as Social Media and Messaging platforms become more common trading channels they will be looking for partners who can encompass these channels.
Merchants also look for delivery partners including carriers, carrier management and marketplace fulfilment and shipping.
Recently, marketplace acquisition businesses (specifically acquisitions of Amazon FBA businesses) have become routine offering a new way for a merchant to exit their business.
Retailers have many of the same challenges as merchants but with the added complexity that any solution they adopt must integrate with existing investments in software, accounting, warehousing and distribution.
Retailers have the additional challenge of protecting their reputation and engaging with marketplaces and social channels multiplies this challenge by several magnitudes. There is the added complexity of price and offer parity enabling their customers to buy with confidence on the marketplace, social channel, or messaging platform confident they will receive the same service and price as on the retailer’s own website.
Where once brands had robust routes to market through distributors and wholesalers to their retail partners, the pandemic has accelerated their desire to establish D2C operations while maintaining their traditional retail channels.
Brand equity is key and this comes atop all of the challenges that retailers and merchants also face.