Smartstore 7: The launch of our own marketplace solution
The release of Smartstore Version 7 marks a decisive turning point in the development of our platform: This new version represents a milestone, as it introduces numerous improvements and innovative features that go far beyond the previous range of services. We have begun implementing our own marketplace solution, which will enable operators to centrally implement multi-vendor business models based on Smartstore—powerful, modular, and future-proof. This solution will make it easier for our users to integrate multiple providers on a common platform, paving the way for new business models and significantly increasing flexibility and scalability. In doing so, we are creating an ecosystem that not only meets today's requirements but can also be easily adapted to future developments.
The transformation of e-commerce: From online shops to platform economies
In recent years, online retail has undergone profound changes as it navigates a phase of significant transformation driven by technological innovations and shifting consumer trends. Traditional monoshops, which typically focus on an individual product range and a limited product line, are increasingly reaching their growth limits – whether in terms of expanding their product range, their ability to respond to rising customer demand on a large scale, or adapting to higher customer expectations in terms of service and user experience. These challenges are paving the way for new business models. At the same time, demand for platform models, in which multiple providers distribute their products and services via a shared, centralized infrastructure, is growing steadily. These platforms not only offer consumers greater choice and comparison options, but also enable providers to scale their market presence beyond the platform and benefit from the shared infrastructure and advantages of collective brand awareness.
What companies such as Amazon, Zalando, and ManoMano have long been successfully practicing and establishing in the B2C sector, i.e., in business with end consumers, has now also found its way into the B2B sector, i.e., trade between companies: Marketplace models have now become a key strategic component that can contribute significantly to sustainable corporate growth, the targeted expansion of product offerings, and clear differentiation from the competition. This is precisely where our vision comes in and unfolds its full potential.
Smartstore as the basis for platform business models
The newly developed marketplace solution, based on the innovative Smartstore 7 platform, is specifically designed for companies that want more than just “another sales platform.” Our goal is to offer a solution that is not only flexibly configurable, but can also be deeply integrated into existing systems and, moreover, operated in a cost-effective manner. This solution is ideal for companies pursuing digital business models, whether in retail, industrial manufacturing, or the service sector. With our approach, we offer companies the opportunity to expand their market presence in a customized way and increase their efficiency.
Our development focus includes, among other things:
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Vendor Management: Comprehensive management of external suppliers covers all aspects of supplier management, including onboarding new suppliers, assigning and monitoring role permissions, and continuously evaluating and analyzing performance metrics to ensure that all partners meet high standards and requirements.
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Assortment Management: This feature enables centralized or decentralized management and maintenance of product data, including precise price settings, ensuring product availability, and efficiently organizing and categorizing all items to ensure optimal visibility and findability for customers.
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Ordering & payment processes: Thanks to multi-client processing, orders can be processed efficiently using splitting logic. Returns and vendor payments are also seamlessly integrated, with various payment service providers such as Stripe Connect or PayPal Payouts available to ensure a smooth payment flow.
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Customer segmentation: The differentiated presentation of content can be adapted to specific customer groups, geographical regions, or industries (whether B2B or B2C) to offer each segment tailored experiences that are tailored to their specific needs and expectations.
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Integration excellence: Seamless connectivity to central systems such as ERP, PIM, and CRM, as well as to logistics and payment service providers, ensures consistent and efficient process handling. This enables companies to optimize their internal processes, ensure data consistency, and respond quickly to changes and market requirements.
One solution for two worlds: B2B and B2C
We place particular emphasis on the ability to support both B2C and B2B marketplace models. In the B2C marketplace, end customers benefit greatly from a wide and diverse range of products and services. They also benefit from a user-friendly search function that enables them to find the items they are looking for quickly and efficiently. In addition, personalized recommendations offer end customers further added value by providing them with product suggestions tailored to their individual preferences, which enriches the shopping experience. On the other hand, when it comes to the B2B marketplace, the focus is on the requirements of business customers, who often need more specific functions to seamlessly integrate their business processes into the marketplace environment. Features such as customized pricing, complex ordering and approval workflows, and ERP system integration are crucial to meeting the specific requirements of the B2B sector.
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Our platform offers comprehensive customer-specific pricing and discount structures that allow you to flexibly adjust prices to the needs of your various customer groups. From individual discounts to special offers, you can personalize everything to make your customers' purchasing decisions easier and increase their loyalty.
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We enable customized ordering processes that can be seamlessly integrated into your business workflows. Whether you want to order on account, prefer electronic data interchange (EDI), or want to work with optimized reorder lists, our system adapts to your specific requirements to make purchasing simple and efficient.
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Our system supports role-based purchasing approvals and effectively manages purchasing budgets. This ensures that only authorized persons can approve orders and helps you keep spending within set budgets, thereby improving transparency and control over procurement costs.
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Seamless integration into existing business processes is one of the biggest advantages of our solution. You don't need additional third-party platforms or parallel systems. Our system optimizes your process-specific workflows and ensures that all operational requirements are effectively covered.
Our solution is carefully designed to meet all these requirements. Without the need for additional third-party platforms or parallel systems, we offer you a streamlined, efficient system that supports your business processes and promotes long-term success.
Marketplace reimagined – for operators, retailers, and customers
A successful marketplace is much more than just a collection of suppliers and buyers. It functions as a dynamic platform that connects numerous different players. This platform enables the exchange of goods, services, and ideas between different groups, whether between retailers and consumers, service providers and clients, or other interested parties. Through this diversity of opportunities, the marketplace not only ensures better supply and higher demand, but also creates real added value for all involved. Suppliers gain access to a larger customer base, consumers benefit from more choice and better prices, while the marketplace operator gains a significant advantage through the quality and scope of interactions.
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For operators: this means a host of new advantages and opportunities. Operators can now tap into new revenue potential by expanding their product ranges without the need for their own warehouse (dropshipping). The business model can thus be scaled smoothly and does not require any complex additional warehouse logistics. This enables efficient use of existing resources and opens up avenues for sustainable growth for the company.
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For suppliers: the advantages are also compelling. They gain access to completely new target groups, significantly increasing their reach. At the same time, they benefit from a professional sales infrastructure that can be used without high initial investments. This simplifies entry into new markets and reduces the financial risks associated with traditional distribution channels.
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For end customers: there is an even greater selection of products and services that meet their individual needs. At the same time, they benefit from transparent processes that ensure they maintain an overview and control at all times. The simple handling via a central user interface also ensures that they can shop conveniently and efficiently, which improves and simplifies their entire experience.
Looking ahead: Our path to the Marketplace Edition
The development of our marketplace solution is designed as a multi-stage project in order to meet the diverse requirements and growth opportunities of the industry. We are deliberately focusing on a modular architecture approach and artificial intelligence. This allows us to implement the various expansion stages flexibly and efficiently. This approach offers our customers the opportunity to scale and adapt their platform as needed. Key components are already prepared or integrated in Smartstore 7. These include innovative features to improve the user experience and powerful tools for data analysis. Additional functional modules tailored to the specific requirements of the markets will follow gradually to ensure continuous added value.
We are working closely with selected pilot customers and partners to ensure that the solution is not only technically mature but also economically viable.
With Smartstore 7, we are setting the course for the next stage of evolution in digital commerce.
We cordially invite you to join us in shaping this exciting and forward-looking path. Whether you want to join us as a committed partner, contribute your products and services as an experienced provider, or realize your own marketplace platform as an innovative operator, we offer you the ideal foundation for developing your visions and achieving sustainable growth. Let's work together and actively shape the digital future.
Do you have any further questions on this topic or would you like to arrange an appointment for a live demo Live-Demo? We are happy to help:
Your Smartstore-Team
E-Mail: info@smartstore.com
Tel.: +49 (0) 231-5335-0
SmartStore AG
Kaiserstraße 63-65
44135 Dortmund