The rise of the online platform powerhouse – beat ’em or join ’em?
Retail is increasingly being dominated by online platform businesses with Next the latest retailer to state its platform ambitions. Where do single-brand retailers stand in this new world?
It might sound odd, but Next boss Lord Wolfson wants middle England’s favourite fashion retailer to become a platform business – an online destination that sells a multitude of brands.
But if you look below the bonnet, there’s evidence Next has already made big strides towards that aim.
Next now sells hundreds of third-party products alongside its own
The retailer has “radically changed” how it does business to create a £500m online aggregator business that sells hundreds of third-party brands alongside its own.
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