THE WHAT? SalonCentric, the B2B retailer owned by L’Oreal USA, is set to launch a new marketplace on its website, due to go live in September.
THE DETAILS The marketplace is slated to add 350 new vendors to the site, which currently sells around 100 brands instore and online.
Likewise, it is also reported to be adding new categories to the site, such as salon equipment and hair extensions.
Operating in conjunction with SalonCentric’s existing online and bricks & mortar retail businesses, the company will be monitoring ‘precise indicators’ of quality, customer service and delivery for vendors, according to Bertrand Fontaine, President of the company.
THE WHY? The online marketplace is a fast-growing model in the B2B e-commerce market, mirroring the exponential growth of consumer sites such as Amazon.
Fontaine said, “Our mission is really to help salons and stylists run their businesses, to be for them a one-stop destination. For that reason, the marketplace [will] extend to new categories of products that we don’t have in our stores today.”
Discussing the marketplace model, he said, “It’s a change of business model, so you need to change your way of thinking.”
He continued that in order to open up to the fact that “we will have many more vendors, the company must] be a bit less obsessed with cannibalization of existing products.”