Marketplaces:

the future of the service industry

The emergence of “service marketplaces” is the harbinger of a new deal in online commerce.

The notion of marketplaces has existed for more than 2 millennia. These spaces that allow buyers and sellers to trade have always favored the sale of products. It is only more recently that western economies have moved towards the service economy. Following this same tempo, product sales were the first to make a successful transition to e-commerce. It is now the service economy that is taking hold.

The public knows this movement under the name of Uberisation of the economy. Although it is difficult to draw its outlines, these new platforms have two points in common: they all offer a service and this service is always provided by a third party.

The service industry turns directly to marketplaces because they allow scaling and outsourcing in a context where it is difficult to relocate. As a result, marketplaces are emerging as the vector of democratization of online services where traditional e-commerce took 15 years to generalize the notion of online marketplaces.

A growing number of unicorns therefore pave the way for the rest of the industry and yet the digitization of this act of sale is not yet common. One can buy all kinds of products online and yet only a small variety of services is available. Why? Because the day is still dawning, and because the main e-commerce solutions do not meet the needs of the service industry, thus requiring heavy investments available only to well-funded enterprises.

In September 2015 we launched the V1 of Cocorico, the world’s most feature-rich solution dedicated to service marketplaces. The features range from booking management workflows to conversion funnel optimization, carrying 1600 functionalities and 20 extensions so that 90% of your needs can be met natively.

The remaining 10%? That’s our touch, carried by almost 10 years of experience and more than 40 platforms across sectors as diverse as accommodation, personal services, construction, tourism and agriculture. Entrusting us with the development of your marketplace is the assurance of a competitive advantage and experienced guidance so that you too may reinvent your industry.

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