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.
Trada by QuickBooks, the B2B ecommerce marketplace launched earlier this summer by Intuit’s QuickBooks, is planning to hold the holiday market from Oct. 14-16.
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.
