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Wholesalers and retailers will have a holiday market of their own where they can find new products as they get ready for the busy season.
The market is designed to help sellers connect with new customers and increase wholesale revenue. For retailers, it is an opportunity to “source unique items at the best price before the holiday rush," according to QuickBooks.
It comes at an important time for everyone in consumer goods. Results of a QuickBooks survey showed that small businesses are predicting that two-thirds (65%) of their revenue will come from holiday season sales.
It’s a time when many retailers are looking to put their best offerings and experiences forward, in order to delight customers with a one-of-a-kind find for a gift, or perhaps themselves. The QuickBooks survey found that 68% of American consumers prefer to buy unique holiday gifts from small businesses.
Supply issues also continue to be a concern. Seven out of ten small businesses are concerned about inventory or product shortfalls during the holidays, the survey found. Couple that with the largest retailers holding holiday kickoff events in October this year, and the imperative to get an early jump on stocking up for the season is clear.
Sellers will be able to create a promotion for the event through Trada’s portal. These offers will be calculated as a percentage of the total order, and are applied once a retailer has reached a predetermined minimum order. The promotions apply across a seller’s catalog, and retailers will be able to access a list of the sellers that are showcasing their products.
As it looks to support businesses as they stock their store, the Trada Holiday Market is offering a few perks for the market:
- Trada is matching discounts offered by sellers up to 10%. So, a 15% discount would result in a discount of 15% + 10% = 25%.
- Retailers will also get free shipping on all items during the days when the market is taking place.
- New retailers that join the marketplace will qualify for $50 in Trada credits, applied at checkout.
QuickBooks launched the online wholesale marketplace in August to provide a place for small businesses to connect and do business with each other. The software has long provided management tools to run a business. Trada is a sign that it wants to help businesses connect with each other.
“Launching a B2B marketplace not only helps small businesses thrive, it delivers on our commitment to provide an end-to-end platform and helps product-based sellers and retail businesses easily implement a wholesale strategy,” said Shilpa Reddy, VP and general manager of QuickBooks Commerce at Intuit, at the time of the launch.
Through the marketplace, suppliers can showcase products through a storefront within the platform, and tell their brand story. Retailers get access to a selection of unique products, and easily place orders with automated processing tools.
The holiday market reflects how, just like consumer-facing ecommerce platforms, B2B marketplaces offer opportunities to meet new customers and offer promotions during special events. There are deals to be had throughout the supply chain.
Trending in Retail Channels
Amazon partnered with Hexa to provide access to a platform that creates lifelike digital images.
Amazon sellers will be able to offer a variety of 3D visualizations on product pages through a new set of immersive tools that are debuting on Tuesday.
Through an expanded partnership with Hexa, Amazon is providing access to a workflow that allows sellers to create 3D assets and display the following:
- 3D images
- 360 viewing
- Virtual try-on
- Augmented reality content
- High-definition marketing materials, including packshots and lifestyle images through AWS Thinkbox.
Selllers don't need prior experience with 3D or virtual reality to use the system, according to Hexa. Amazon selling partners can upload their Amazon Standard Identification Number (ASIN) into Hexa’s content management system. Then, the system will automatically convert an image into a 3D model with AR compatibility. Amazon can then animate the images with 360-degree viewing and augmented reality, which renders digital imagery over a physical space.
Hexa’s platform uses AI to create digital twins of physical objects, including consumer goods. Over the last 24 months, Hexa worked alongside the spatial computing team at Amazon Web Services (AWS) and the imaging team at Amazon.com to build the infrastructure that provides 3D assets for the thousands of sellers that work with Amazon.
“Working with Amazon has opened up a whole new distribution channel for our partners,” said Gavin Goodvach, Hexa’s Vice President of Partnerships.
Hexa’s platform is designed to create lifelike renderings that can explored in 3D, or overlaid into photos of the physical world. It allows assets from any category to be created, ranging from furniture to jewelry to apparel.
A Hexa 3D rendering (Courtesy photo)
The result is a system that allows sellers to provide a new level of personalization, said Hexa CEO Yehiel Atias. Consumers will have new opportunity see a product in a space, or what it looks like on their person.
Additionally, merchants can leverage these tools to optimize the entire funnel of a purchase. Advanced imagery allows more people to view and engage with a product during the initial shopping experience. Following the purchase, consumers who have gotten a better look at a product from all angles will be more likely to have confidence that the product matches their needs. In turn, this can reduce return rates.
While Amazon has previously introduced virtual try-on and augmented reality tools, this partnership aims to expand these capabilities beyond the name brands that often have 1P relationships with Amazon. Third-party sellers are an increasingly formidable segment of Amazon’s business, as they account for 60% of sales on the marketplace. Now, these sellers are being equipped with tools that enhance the shopping experience for everyone.
A video displaying the new capabilities is below. Amazon sellers can learn more about the platform here.
Hexa & Amazon - 3D Production Powerhousewww.youtube.com