What do you think about the future of marketplaces?
Hey guys, I'm Peter. I'm the CEO of a Startup Studio. One of our startups under Market Fit Phase is a marketplace that we launched 2.5 months ago. We have almost 70 stores, with more than $15K in revenue, more than 10K unique visitors with more than 35K unique visits. We think is not that bad... BUT
Every week there is a new announcement of another marketplace coming, and we think that probably that entropy will generate the next value proposition that will turn this model into an older one.
We think that there is a huge Addressable Market that will definitely start using the new flavor, in case it offers a better value proposition. What do you think that we can start improving in order to build that new flavor? Thanks in advance
Marketplace is such an open world thing...
I'd think that as they are becoming more a known commodity and more expected and needed either a race to the bottom or a co-lob like OSS or other would create free and/or super cheap ones like itch.io is for indie games.
Alternative app makets for different OSs would need to happen at some point, maybe after some big players would pave the way while doing the heavy lifting like legal battles...
If you think shopping, I'd guess that somewhere between the Amz behamouth and ebay pricing things would come in the middle, and I don't think the tiny things like etzy are it...
For loggistics more gig economy things that are more generic and usable by all marketplaces should happen...
Less loyalty in general and more cross operability...
Some platform to setup your own marketplace with a few clicks like wordpress for blog would eventually show up and create 1k's a day of small niches...
Services to manage my own product/offer/store across many marketplaces...
I think what we are listening every time we have a 1:1 meeting with some client is:
What we are thinking is more about providing an education platform behind the scenes where you can go step by step from zero to hero. Is something you would think is a great value proposition?
People are lazy
and people undervalue marketing&selling
This info is out there in 1,000 different formats, free and paid.
It might be a good value proposition as it's working, but you'd need to be more specific to get any traction probably.. while I'm not sure how it connects to the original topic... is the context just how to get better in your own marketplace? or to get visitors to their store inside your marketplace? (which obviously is beneficial to you...)
The problem with people getting attention is most of them play a 0 sum game trying to compete for the same things... which is not a problem for 3rd parties getting paid... what a good "system" should do is push them down places with less competition and more match... but that's where done to a high quality means you always need to get new stuff...