For the first time, Gartner® included Rithum in its Market Guide for Marketplace Operations Applications Report. Rithum is recognised as a marketplace operation applications (MOA) vendor.
According to a key finding from the report, “economic headwinds led to softening of the growth of marketplace operation applications (MOAs) in 2023 as organizations focused on cash flow, profitability and near-term ROI. But the market is expected to see higher growth from 2024 and beyond. Organizations are taking a pragmatic approach when launching marketplaces, being cautious of the heavy investment and operational resources involved and the potential risk of undermining the profitability of their existing business.”
Rithum also offers additional services such as retail media, which is noted in the Gartner report as, “value-added services such as retail media and seller networks can help organizations gain new revenue streams and quickly scale the marketplace.”
What are the benefits of online marketplaces?
Today’s businesses are vying for the attention of a digital-savvy consumer that weighs their options before making a purchase. 82% of global consumers will visit two or more websites before buying, according to the 2023 Online Consumer Behavior Global Report by Rithum and research firm Dynata. Marketplaces are another opportunity to reach a discerning consumer.
Gartner’s report says that “marketplace operation applications (MOAs) enable organizations to operate their marketplaces by managing third-party sellers, products, orders, finance and overall performance.” Marketplaces give businesses access to a network of brand partners without holding onto inventory and adding to costs.
“We’re thrilled to be included in Gartner’s Market Guide for Marketplace Operation Applications this year. Businesses are under tremendous pressure to increase margins despite macroeconomic headwinds. Rithum offers flexibility for third-party inventory business models to help businesses scale and maximize profitable growth,” said Ellie Williams, vice president of product management.
Gartner notes that “with MOAs, organizations can:
- Extend product offerings by including third-party products.
- Reduce costs by streamlining orders across multiple divisions.
- Retain customers with richer solutions and better supply chain efficiency and resilience.”
Learn more about how Rithum can help you launch your dropship, marketplace or hybrid solution here.
Gartner, Market Guide for Marketplace Operation Applications, March 2024 GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Research (Gartner’s) publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.