Collaborative Commerce Could Disrupt Traditional Wholesaling

by BFCM, Ecommerce, Featured, Holiday, Marketing

Our CEO and Co-Founder, David Perry, was recently featured on the 2X eCommerce Podcast. In this episode, Kunle (the host) and David talk about reshaping the future of online retail through Collaborative Commerce. You will get to hear about how you can seamlessly extend your sales channels and create product offerings that were previously unthinkable. This is a great episode for business owners and marketers!

Here is a summary of some of the most important points made 👇 👇 👇

  • Carro allows merchants to place relevant products from partner brands to their cart seamlessly
  • Shopify Sales Channels allow you to build marketplaces with multiple suppliers combined together
  • There are roughly 8 million brands in the world and 60 million influencers
  • Brands adopting Collaborative Commerce see a 20-60% growth in revenue
  • Any service can be converted into a SKU and bundled with relevant products

 

Timestamp

⏲️ 08:50David’s backstory:

  • Originally from Belfast
  • Taught himself to make Video Games
  • Best known for making Earthrim on Sega Genesis
  • Had planned to retire after selling his last company to Sony
  • Was drawn to eCommerce

⏲️ 11:20Co-Founding Carro:

  • He handles investment and tech
  • The co-founder, Jason, is more focused on product design and relationships
  • Started working on the company on 2017
  • Carro is based on the concept that brands can sell more together
  • Currently have over a million products from over 30,000 brands
  • Allow merchants to place relevant products from partner brands to their cart seamlessly

⏲️ 14:55Setting up Carro:

  • “A product is basically a product description, images and inventory”
  • Products from other merchants can be seamlessly integrated into your cart
  • The partner brands fulfill their respective products and you make a sale on your site

⏲️ 16:50Aligning Customer Experience between Partners:

  • Carro vets brands as best as possible
  • Brands can connect with partners directly to align customer experience

⏲️ 18:50Shopify Sales Channels:

  • It allows you to build marketplaces with multiple suppliers combined together
  • It allows you to curate products from different brands and create a unique SKU
  • You can use AI to find optimum products to upsell

⏲️ 24:50Data Sharing Mechanism:

  • We don’t own any of the data, it belongs to the brand
  • If they leave the platform, they take their data with them
  • Brands can work out data-sharing rules among themselves
  • There are roughly 8 million brands in the world and 60 million influencers

⏲️ 30:00Profit Sharing:

  • Margins are decided by the brands themselves
  • But Brands are incentivized to be generous
  • “Awareness is the path to growth”

⏲️ 37:00Discovering Carro:

  • They haven’t started marketing yet, it will start on 1st November
  • “This is going to be the biggest Black Friday and Cyber Monday in history”

⏲️ 39:20Impact on Revenue:

  • Brands see a 20-60% growth in revenue depending on their level of commitment

⏲️ 41:15Balance between your products and partner products:

  • Even services can be converted into a SKU and bundled with products

⏲️ 45:30Lightning Round

 

Takeaways

  • Brands adopting Collaborative Commerce see a 20-60% growth in revenue
  • Any service can be converted into a SKU and bundled along with relevant products

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