Marketplace

Marketplace

What is Market 901?

An online store where many brand sell their products. Think Amazon and Etsy.

Why is a Marketplace a ‘Good Thing’ ?

There are several reasons for doing this now.:

#1 – Covid will make some portion of buyers uncomfortable going into retails stores at a time when they are most crowded. For local handmade brands, many of the stores we sell at have reduced hours and foot traffic.

Here at M3, we’ve been talking about going online for years but never invested the time to do it. NOW is the time. Online sales will most likely be the biggest since the internet began and we need to get ready to participate in it.

#2 – Give our customers who typically shop our end-of-year popup shops a place to shop. Our team has been around doing markets since 2010 in South Main and doing popups since Overton Square in 2012. We have base who follows us wherever we popup. We just need to tell them where to experience us online.

#3 – Increase sales for local small business brands. Everyone is feeling the impact of our Spring, Summer, and now Fall shows being cancelled.

#4 – Buyers like getting a bunch of stuff in a single place. That’s why Walmart and Amazon are the kings of the retail space. No single brand man match their sales.

Yes, we all have our own online stores and many of us are also selling on Amazon and Etsy and we should continue to drive traffic to them. But the marketplace concept is one that many customers like.

#5 – Multi-channel selling is the name of the game for brands looking to reach the more customers and grow sales. No matter how much we would all love it, every customer won’t visit our website. Some prefer to buy our products along with a bunch of other stuff on a marketplace. Market 901 builds on this trend and makes this doable for locally-focused goods.

Is there data to support this?

Here are a few industry articles on marketplaces:

Our plan is to launch an online marketplace where out local customers can shop all of the great Midsouth independent brands that they are used to buying from at the regional markets and shows we attend.

What will the marketplace look like?

We’ve built the online store already. You can get sneak peak at it here – use code 7080 to login.

How much will it cost to sell?

  • There are 3 Seller plans:
    • Market 1 – $25 monthly seller fee to sell + 25% commission on each item sold
      Market 2 – $50 monthly seller fee + 20% commission on each item sold
      Market 3 – $100 monthly seller fee + 15% commission on each item sold
  • We’re still working with the app developer to determine if the seller or the marketplace admin will be responsible for creating product listings. If our team does it, we’ll be able to import files from Etsy, Shopify, or other store platforms or marketplaces.

How will it work?

  • Buyer shops all brands & products listed on the marketplace. Adds items from multiple sellers to their shopping cart and checks out.
  • Buyers pays for all items + all shipping charges in a single transaction.
  • Market901 will split the order by seller and notify each seller that they have an order to ship.
  • Sellers ship all orders to buyer and pay for shipping charges.
  • Market901 will pay sellers for all items sold each month + shipping charges paid – less any commissions and monthly seller fees.

I want IN – where do I apply to sell?

If you would be interested in selling your products on the marketplace you can apply HERE.

I have more questions

If you have questions you can contact us via email.