Marketplace Focus: PriceMinister
Pentagon have kindly agreed to provide Tamebay readers with some additional insights into the marketplaces they introduced for the first time their recent Fashion Without Borders and Retail Without Borders event. Today they look at PriceMinister.
Founded in 2000 and acquired by Rakuten Group in 2010, PriceMinister is the second most-visited ecommerce site in France. One in four French online shoppers is already a member of PriceMinister, and the marketplace prides itself on its 49% year-on-year growth.
Currently, PriceMinister has more than 22 million registered members, enjoys over 10 million unique visitors per month and offers more than 200 million items for sale, across various product categories, including books, video games, toys, clothing, home, household appliances and food.
PriceMinister is now home to more than 4,000 merchants, including well-known brands, such as Zara, Sony, Pampers, Levi’s, Chicco, and many others.
The French Ecommerce Opportunity
France is one of the most established ecommerce markets worldwide, and currently it is the third largest online industry in Europe.
The growing number of ecommerce offers, the arrival of new shoppers and the stable rise in the number of online transactions clearly indicate that French ecommerce market still has room for growth, and it is expected to reach as much as $45bn by the end of 2016.
With eight out of the top 15 online stores in France being traditional retailers, multi-channel commerce has become immensely popular in the country over the past year, while cross-border trade is another trend that is expected to increasingly shape the French online market.
Being part of Rakuten’s global network of marketplaces and benefiting from the group synergy, PriceMinister is extremely well positioned to host international retailers, operating across various verticals and willing to sell to multiple cross-border destinations.
To further support its merchants and to enable them to present their brand identity in the best possible way, PriceMinsiter provides sellers with the opportunity to create a highly cutomisable branded store within the platform, to send newsletters to the millions of PriceMembers every week and to participate in thematic campaigns.
Payments on PriceMinister are secured and guaranteed by the marketplace, and customer service is managed by the platform’s own operators, who actively fight against fraud and counterfeit.
How to get started on PriceMinister
You can of course sign up as a seller directly on PriceMinister , however, you will need to invest time and resources in capturing the specifics of the local market.
Alternatively, as market leading experts in global marketplaces, Pentagon can accelerate your international growth by setting up and managing your store directly on PriceMinister .
Pentagon will provide a technical advisor to manage the integration between your brand and PriceMinister , an account manger to oversee the day-to-day running of your branded store, optimise product titles and boost sales through platform deals, a translations service to align all product descriptions and titles with local language nuances, and customer services support to ensure the expectations of local shoppers are met.
Talk to a member of the Pentagon team today to find out how they can increase your international sales! Email: email@example.com, call: +44 (0)20 8940 5392 or visit us at: wearepentagon.com.