How fashion’s hottest brands are nailing marketplace strategies: it’s all about AI

Farfetch? Nordstrom? What about Saks Fifth Avenue? How is your brand priced across sales channels? Leading fashion brands are using automated competitive intelligence platform Retviews, to manage brand distribution across sales channels.

Using the wrong marketplace strategy could be costing you your brand's image

Allowing brands to tap into a wider consumer base, marketplaces are becoming increasingly prominent, so nailing your brand’s marketplace strategy is crucial. However, along with being present on multiple sales channels, brands need to ensure that their brand image remains intact, raising the question of how can you confidently tackle marketplaces?
Some of the fashion industry’s most prominent brands are taking advantage of AI-powered data with Retviews, to track their own products across marketplaces, ultimately keeping them ahead of the curve.

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Marketplace presence allows brands to reach a much wider audience base, hosting a large assortment of brands, ranging from premium and accessible luxury to high end luxury. However, securing brand presence on marketplaces isn’t the only factor to consider, protecting brand image is also crucial. Retviews’ AI-powered real-time data scans online marketplaces to find exact matches to your own products, along with the state of their prices, so that your e-merchandising teams can track exactly how your brand is represented across platforms.
Is the marketplace price significantly lower than your original selling price? Retviews has proven to be the best ally for brands to optimize marketplace strategies by providing a 360 look into how your brand is positioned and where you stand next leading competitors, allowing you to make strategic decisions accordingly and keep brand image intact.

Decoding your marketplace strategy with AI

The state of your assortment on marketplaces

Seeing as brand presence on marketplaces has become a fundamental part of a brand’s ecommerce strategy, nailing your assortment across sales channels is key. The question of whether you should be putting forward bags instead of footwear on a specific marketplace, and apparel over accessories on another, no longer has to be a burden. Retviews’ real-time data allows your brand to monitor which categories are most present on your own ecommerce platform versus on different marketplaces, allowing you to spot opportunities and strategize accordingly.

Where do you stand next to leading competitors?

A question your brand may be faced with is, how does my marketplace assortment compare to that of my competitors? Considering the widespread presence of brands on marketplaces, knowing the size of your competitors’ assortment is key in nailing your own strategy. This is precisely why a competitive intelligence tool like Retviews is essential for brands across sectors. For each marketplace you want to keep track of, Retviews allows you to get an in-depth look at your main competitors’ assortment versus your own.
Is their collection significantly larger than yours on Nordstrom or MyTheresa? Maybe you’re placing all your eggs in one basket but aiming to optimize presence across multiple channels. Your teams can use this information to shift strategies accordingly and stay ahead of the marketplace curve.

Pricing your brand to perfection

Getting your pricing strategy right is a vital part of successful marketplace representation. Thanks to AI powered data, your brand can get a broad view of the pricing structure for matching products between your ecommerce platform and marketplaces. Retviews therefore allows you to track the share of your assortment on marketplaces which is priced higher, lower, or similarly to your own ecommerce platform.
Ranging from broad views all the way to highly detailed, in-depth insights on your products’ prices across platforms, Retviews’ data allows you to see exactly which of your products are priced higher, lower, or similarly on marketplaces, thus allowing you to closely track price discrepancies as well as pricing history and ultimately stay on top of brand distribution. Tracking your products on marketplaces with Retviews also gives you a detailed look at if marketplaces are discounting your collection and by how much, and how your products’ pricing structure differs between your own platform, and marketplaces. Are you putting forward more accessible, entry-level pieces on one marketplace when you want to be elevating brand positioning?
Nailing marketplace strategies can be made significantly simpler for your brand, and fashion’s leading brands across the world are already taking advantage of Retviews’ AI powered data. Don’t miss out on nailing your own strategy.