Analyst Report

IDC Spotlight Report: The Power of a PX Strategy in Omnichannel Commerce

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Create consistent, compelling customer experiences on every third-party marketplace

Activating your product record on a marketplace that’s not owned by you can be tricky, but third-party marketplaces offer brands an opportunity to reach new, loyal audiences while maintaining control over things like pricing, marketing collateral, and shipping fulfillment. With Akeneo, create a strong foundation of product information management to support an omnichannel activation strategy across every touchpoint.

Leading Enterprises Choose Akeneo for their 3P Activation Requirements

What is a 3P marketplace?

A third-party (3P) marketplace refers to utilizing a retailer as a channel to sell your products directly to their consumers. You (the brand) are responsible for the product listings, marketing and advertising, as well as the fulfillment of any and all orders. In a 3P marketplace, the brand is in control of the entire end-to-end process, and the retailer serves as more of an impartial place for brands to list their products. Many 3P marketplaces, such as Amazon, also offer 1P marketplace selling options.

PIM: Foundation of 3P marketplace experiences

With the retailer taking the backseat in a 3P marketplace, your team needs to have the infrastructure in place to take full advantage of this selling channel. Having a strong foundation of product information management (PIM) means that your business will have everything you need to create a compelling, consistent customer experience, even if the selling platform isn’t owned by you.

Reach new audiences

While you may have a loyal customer base, you can tap into new markets and reach new audiences by selling through third-party retailers that have their own faithful shoppers, all while maintaining control over the brand voice and customer experience you’re providing. But doing so requires you to be able to provide the retailer with reliable, up-to-date product information at all times; that’s where PIM comes in.

Benefits & Drawbacks of 3P Marketplaces

Pros

  • Greater margins, creating increased profit
  • More control over product, brand voice, and customer experience
  • Greater insights into customer behavior

Cons

  • Time-consuming to keep product catalogs up to date
  • Manage shipping and inventory logistics
  • Reduced access to retailer launch, selling, and marketing programs

Key Akeneo Capabalities for 3P Marketplace Activation

Build customer trust

Use Akeneo PIM’s Data Quality Insights to ensure customers only see high-quality, accurate data in your catalogs. Spot errors, improve consistency, and track product data quality over time to ensure you’re delivering the best possible product experiences that customers demand.

Manage more

Your product data is key, but so is your brand promise, your brand values, and other reference information that buyers and shoppers seek. Carrying designer brands? Promoting your sustainability and brand origin? Akeneo PIM manages reference data so you can build your story and communicate your brand’s story across all channels.

Grow digital sales

Create product catalogs with tailored product listings relevant for digital channels, such as web, marketplaces, mobile, and more. Connectors, a syndication add-on, and pre-built API-based connectors rapidly feed complete product data to leading eCommerce platforms, print solutions, marketplaces, and more.

Are you ready to take the next step?

Our Akeneo Experts are here to answer all the questions you might have about our products and help you to move forward on your PXM journey.