A GLOBAL SHOP WINDOW TO SELL WORLDWIDE
Marketparts.com, the world’s first digital B2B marketplace for automotive parts manufacturers and distributors, was launched at the Equip Auto international trade show in Paris. Trialled within the Nexus Community, it has been spun-off as a standalone business to address the whole automotive community. Here co-founder / developer Christophe Riberolle provides an insight into the development of the innovative platform and the business opportunities it offers.
How did the idea of developing Marketparts.com come about?
I was in charge of business development for an international B2C start-up company in the automotive sector for nine years. I saw a lot of things happening in retail, especially in the B2C arena, both in direct to consumer businesses as well as marketplaces. However, very little progress was happening in the B2B space when it came to manufacturers or distribution.
At the beginning of 2017, I approached Nexus to explore B2B digitalization channels at the level of distributors and manufacturers. Thanks to its feedback, we estimated that exchanges between distributors within the Nexus Community in Europe alone were reaching several hundreds of thousands of euros. It therefore seemed obvious there was enormous potential for a sourcing tool at a global level.
How long did it take to develop the platform?
We started work on a proof of concept in September 2017, beginning with listening carefully to the needs of distributors. Based on their users’ experiences, we created and launched in May 2018 a Beta version of a digital tool and tested it inside the Nexus Community.
The main challenge has been to adapt the tool to the everyday work of a professional in the automotive business.
That is one of the key advantages of Marketparts.com, unlike other marketplaces which limit you to searching for parts one by one.
Using Marketparts.com, it’s possible, easy and perfectly adapted to the everyday work of a professional buyer to search for 1,000 different SKUs simultaneously and import a simple file up to 2,000 SKUs.
What is the main target for the near future for Marketparts.com?
Today, we have opened this tool on a new platform with a new user experience (UX) to engage the entire B2B automotive community globally, and not only the Nexus Community, because the strength of a marketplace is only as strong as the product offers and the matching of the offers to the demand.
OEMs and IAMs also have the greatest interest in using the platform to promote their products to a very targeted audience of distributors and to sell their stocks. We are offering them a totally adapted, bespoke marketing offer.
Whether they are independent or belong to an International Trading Group (ITG), users are already signing up with us and we are in the process of uploading their offers on Marketparts.com.
We will have more than two million offers from all continents, including passenger cars, heavy duty, motorcycle and other automotive products for the launch of the platform by the end of the year.
HOW IT WORKS
Marketparts.com is a 0% commission platform. Payment is a direct process between the buyer and the seller. The business model is subscription based. We offer 4 types of subscription: a free trial for two weeks, to test, check prices and availability, and three pricing levels for three different durations: 1 month , 6 months or 1 year ($8,200). It means that automotive professionals can have a performing sourcing tool for less than $23 per day.
Our one-of-a-kind proposition is the multi-search: to search and find thousands of parts of OES or IAM brands simultaneously on a global scale, taking advantage of price distortion and availability between different geographic markets based on a global catalogue of automotive products for passenger car, heavy duty, motorcycle and so on.
This marketparts.com catalogue is powered by distributors and manufacturers around the world and in one click, you can choose in which geographical areas you want to source, by continent and even by country.
Marketparts.com is a powerful global pricing comparison tool, pulling in pricing data and availability from all corners of the globe. The users can import, configure, analyse, compare and get in contact directly with the sellers simply with a click on the orange button.
We also provide information on shipping costs and taxes to aid the decision of the professional buyers. This is particularly important for trans-continental purchases and for international trading.
And finally, the user can have the same results related to their initial request cross-referenced to other brands, both OES and IAM, thanks to our rich database.
We are providing a feature that we have called: the outlet. To ALL community members of Marketparts we also offer the opportunity to sell overstock for parts and accessories of any kind in the automotive sector.
One account on Marketparts gives them access to thousands of professional buyers. Sellers can appear under their name or anonymously.
Christophe was head of business development for the start-up Pure Player, promoting automotive B2C platform Mister Auto in 21 countries across Europe, Africa and South America for seven years from its birth to its acquisition by the PSA group in 2016.