Model in brief
Roger Egan (co-founder and CEO) and his team explained that the ‘Marketplace’ concept allows independent merchants (retailers, wholesalers and distributors alike) to list and sell their products via the Marketplace e-commerce platform to RedMart’s customers.
|Roger Egan of RedMart|
Individual merchants save on time and resources as they do not need to go through the rigours of setting up, running and maintaining their own e-commerce sites. Merchants are also able to tap onto RedMart’s customer base for orders and the latter’s logistics support to get their goods delivered to customers.
The RedMart customers get the convenience of placing their orders at one site (rather than needing to visit several e-commerce sites run by individual merchants) and importantly, the benefit of getting their orders consolidated and delivered to their doorstep.
The Wine Angle
During this launch, I saw several established local wine merchants who are participating in RedMart Marketplace’s e-commerce platform; namely, The Straits Wine Company, Cellarmaster Wines, Angra Wine & Spirits, Weindepot Singapore and Carecci & Figli Trading. (The media kit also showed other participating wine merchants; namely Enoteca, VCT and Hai Choo Wines).
|The Cellarmaster team|
|Nelson from WeinDepot|
|Rep from The Straits Wine Company|
|The Carecci & Figli team|
Most of these wine merchants have been around in the local wine scene for some time. While a few have retail presence, most others sell to F&B outlets, clubs and direct customers. The RedMart’s Marketplace option provides an interesting avenue to reach local wine consumers I believe.
The breakdown of RedMart’s current sales show 20% of present sales done are under ‘alcoholic products’ (wines naturally included within this category). It points to a consumer base which already uses the Marketplace e-commerce platform for purchase of alcoholic beverages. A promising sign for participating merchants.
More pictures of this launch can be viewed via the following link: Launch of RedMart Marketplace