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In the first quarter of 2020 Amazon reached the $1 trillion market cap, as net sales rose to $46bn up 26% for the same period last year. At the same time Debenhams, John Lewis, Beales and several other high-street retailers were announcing they’re on the brink of collapse. It’s the end of an era not only for some of Britain’s longest-standing department stores but also for the brands that rely on them to supply their products.
For many brands in this space, operating in the B2B market, it made logical business sense to jump to an e-retailer to compensate during the time of crisis and dip their toe in the D2C space online.
With commerce now well into recovery, it’s a great time for businesses to reevaluate their marketing plans and contemplate if the decisions made during a period of crisis will withstand. Marketplaces offer a great solution to start selling online with a straightforward onboarding process and all eCommerce functionality built-in, but are marketplaces the right way forward for your brand?
Jake Welsh, Principal Brand Consultant and Director at Dept Agency will discuss how FMCG brands may thrive on marketplaces, whereas, luxury and influential brands rely on storytelling to engage with their consumers. Jake will use examples to explain there is no one size fits all solution and how various brands can find their footing with marketplaces whilst continuing to protect brand equity.