{"id":143541,"date":"2024-07-11T13:49:14","date_gmt":"2024-07-11T13:49:14","guid":{"rendered":"https:\/\/www.rithum.com\/blog\/retail-fest-2024\/"},"modified":"2024-07-12T12:24:50","modified_gmt":"2024-07-12T12:24:50","slug":"retail-fest-2024","status":"publish","type":"post","link":"https:\/\/old.rithum.com\/uk\/blog\/retail-fest-2024\/","title":{"rendered":"Retail Fest 2024: 4 Lessons from Brands on Creating Lasting and Profitable eCommerce Businesses"},"content":{"rendered":"<p><span data-contrast=\"auto\">Brands must <\/span><span data-contrast=\"auto\">adapt<\/span> <span data-contrast=\"auto\">to stand out in a competitive <\/span><span data-contrast=\"auto\">economic<\/span><span data-contrast=\"auto\"> environment.<\/span><span data-contrast=\"auto\"> That\u2019s what barbecue manufacturer Weber, apparel retailer Azura Fashion Group, and mattress brand Zinus told Rithum during our panel discussion at Australia\u2019s 2024 Retail Fest event. Consumers are spending more time shopping online and visiting more websites and social media before making a purchase.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:279}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">To meet consumers where they are, brands are turning to third-party commerce (3P). 3P commerce allows brands to reach consumers directly through retailer marketplaces. However, managing multiple channels can be challenging.\u00a0 By investing in a unified marketplace management solution, brands can streamline operations, saving time and resources.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:279}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Here are four lessons for brands managing a multichannel selling strategy.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:279}\">\u00a0<\/span><\/p>\n<h2>Retail Media helps Weber stand out in a competitive market<\/h2>\n<p><span data-contrast=\"auto\">Brands are under pressure to establish their online presence, said Marco Rocha, E-Commerce Channel Manager at Weber. Competing in a crowded market space and trying to prove authenticity to a new audience is challenging. By introducing a robust retail media advertising strategy through Rithum, Weber has increased sales conversions and improved its overall visibility in high-demand searches, he said. Rithum helped\u00a0<\/span> <span data-contrast=\"auto\">Weber streamline its advertising process and automate bids, ensuring the business gets the best ROI on their ad spend.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:279}\">\u00a0<\/span><\/p>\n<h2>Brands need to adapt product selection to meet consumer demand<\/h2>\n<p><span data-contrast=\"auto\">Azura Fashion Group connects fashion brands, suppliers and resellers with global customers through a network of marketplaces. It<\/span><span data-contrast=\"auto\"> had to adapt its listing strategy to reflect the differences in customer preferences, said Sam Wood, CEO and co-founder.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:279}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cPeople don\u2019t stop buying items during economically challenging times, but what they do buy will change<\/span><span data-contrast=\"auto\">,<\/span><span data-contrast=\"auto\">\u201d Wood said. He highlighted that major discounting and promotions wasn\u2019t the best route for the retailer. Instead, adjusting <\/span><span data-contrast=\"auto\">its marketplace strategy and expanding into new markets has helped increase profitability by 20%.\u00a0<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:279}\">\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:279}\">\u00a0<\/span><span data-contrast=\"auto\">Consumers are actively seeking the best value for money items and will shop around for the best price. Data from our 2023 Online Consumer Behavior Global Report conducted by Rithum and <\/span><a href=\"https:\/\/www.rithum.com\/uk\/resources\/2023-online-consumer-behaviour-global-report\/\"><span data-contrast=\"none\">Dynata<\/span><\/a><span data-contrast=\"auto\"> shows, 83% of consumers will visit at least 2 marketplaces before committing to a purchase. Diversifying sales channels can help get your products in front of new audiences and boost profits. <\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:279}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cPeople are doing their research online. If they know an item is not available in their market, they will contact us and ask when it\u2019s being launched on Amazon or eBay. We had to make sure we met that demand<\/span><span data-contrast=\"auto\">,<\/span><span data-contrast=\"auto\">\u201d said Weber\u2019s Rocha.\u00a0<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:279}\">\u00a0<\/span><\/p>\n<h2>Investing in marketplace management can simplify cross-border selling<\/h2>\n<p><span data-contrast=\"auto\">Brands need to develop individual strategies for their marketplaces and move away from a one-size fits all approach<\/span><span data-contrast=\"auto\">,<\/span><span data-contrast=\"auto\"> said Azura\u2019s Wood.\u00a0 \u201c<\/span><span data-contrast=\"auto\">Listing products onto a marketplace and then sitting and waiting for sales to happen just doesn\u2019t work anymore<\/span><span data-contrast=\"auto\">,<\/span><span data-contrast=\"auto\">\u201d he said.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:279}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Treating each marketplace like your own website and investing in aspects such as the user experience, shipping<\/span><span data-contrast=\"auto\">,<\/span><span data-contrast=\"auto\"> and creative elements can help to engage consumers.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:279}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Azura Fashion Group currently sells on 56 marketplaces across 28 countries<\/span><span data-contrast=\"auto\">. <\/span><span data-contrast=\"auto\">Partnering with Rithum has allowed the retailer to expand its reach globally and simplify the complexity of navigating new territories.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:279}\">\u00a0<\/span><\/p>\n<h2>The importance of building relationships with marketplaces<\/h2>\n<p><span data-contrast=\"auto\">Relationship building with marketplaces can be a great way to develop an effective sales approach. \u201cA marketplace is not a self-serve checkout, you need to build those relationships and work on a shared strategy<\/span><span data-contrast=\"auto\">,<\/span><span data-contrast=\"auto\">\u201d said Dan Pittman, country manager at Zinus.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:279}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Marketplaces have a depth of knowledge and insights on what resonates with their shoppers. Partnering with them and having regular conversations about goals and KPI\u2019s <\/span><span data-contrast=\"auto\">can help you identify the best way to maximize sales and help you reach your targets.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:279}\">\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:279}\">\u00a0<\/span><span data-contrast=\"auto\">Rithum\u2019s network includes more than 400 channel integrations so you can find the marketplaces which best suit your business needs. To learn more about how Rithum can support your marketplace strategy, <\/span><a href=\"https:\/\/www.rithum.com\/uk\/request-a-demo\/\"><span data-contrast=\"none\">contact<\/span><\/a><span data-contrast=\"auto\"> a member of our team.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:279}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brands must adapt to stand out in a competitive economic environment. That\u2019s what barbecue manufacturer Weber, apparel retailer Azura Fashion Group, and mattress brand Zinus told Rithum during our panel discussion at Australia\u2019s 2024 Retail Fest event. Consumers are spending more time shopping online and visiting more websites and social media before making a purchase.\u00a0 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":143531,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"tags":[7735,9636,9623],"asset-type":[13745],"audience":[13408,13411],"bio":[],"topic":[15225,8606,8847],"class_list":["post-143541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-brands","tag-marketplaces-uk-2","tag-retailers-uk","asset-type-blog-uk","audience-brands-suppliers-uk","audience-retailers-uk","topic-brands-uk-2","topic-channels-uk","topic-cross-border-trade-uk"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.3.1 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Retail Fest 2024: 4 Lessons from Brands on Creating 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