Currently one of the biggest retailers finding success with the eConcession model is Nordstrom. According to Glossy, Nordstrom “plans to grow its partner and shared revenue streams from 5% of the business to 30%, and concessions will be the primary method of doing so.” That’s a big deal. Not only is Nordstrom exploring brick and mortar Concessions, but they’re also finding success in digital ones too.
Don’t worry, this strategy isn’t just for the “big guys,” your brand can play along too. Read on to see how any brand can dip their toes in the world of eConcessions
What is an eConcession?
Have you ever been to a luxury retailer like Saks Fifth Avenue? Did you notice how it looks as if there are stores within their store? For example, you might see a Gucci that looks exactly like (and functions like) a stand-alone Gucci, but it just happens to be inside another luxury retailer. That is a concession. An eConcession is the same thing, just digital.
So, what are the benefits of eConcessions?
Brands retain more control over pricing, merchandising, and storytelling compared to the wholesale model.
After all, people love brands because of how the brand presents itself. In some ways, this is a win-win for both parties. The retailer provides the space and the traffic, while the brand provides the storytelling, products, and even customer service!
You may be thinking, how can this be done digitally? Well, we’ve got some solutions for you.
Carro enables brands to supply their products to digital retailers. Once a partnership is accepted, the Retailer can add the brand’s products to their store in just a few clicks. Not only can the retailer pull all of the product detail page information directly from the brand’s site, but also all of the product images. And the best part? The supplying brand still has control over the shipping and fulfillment too!
And, if you want the customer service to be handled by the brand as well, Gorgias has some amazing features to make this possible.
With technology like Carro and Gorgias, getting started with an eConcession could take your brand as little as a few weeks