Rental functionality
While most e-commerce activities involve the direct sale of products and services, a new space is opening up; ecommerce for rental. Many companies now have a business model that focuses on ecommerce rental as it is a fast growing industry. Therefore, such brands need ecommerce platforms with rental functionality to cater to their idiosyncrasies.
For example, for a ecommerce brand that sells alone, products will typically flow in one direction – from the seller to the buyer. However, e-commerce rentals require products to be returned. This means businesses need capabilities to manage the two-way flow of products, be it B2C or B2B. They require features such as automation of reminder emails to customers due to product returns. In addition, planning, inventory, and marketing requirements differ for this business model. Therefore, the need for ecommerce platforms that have rental functionality or prioritize it is crucial.
Listings in Rental functionality
While most e-commerce activities involve the direct sale of products and services, a new space is opening up; ecommerce for rental. Many companies now have a business model that focuses on ecommerce rental as it is a fast growing industry. Therefore, such brands need ecommerce platforms with rental functionality to cater to their idiosyncrasies. For example, for a ecommerce brand that only sells, products will usually flow in one direction - from seller to buyer. However, e-commerce rentals require products to be returned. This means businesses need capabilities to manage the two-way flow of products, be it B2C or B2B. They require features such as automation of reminder emails to customers due to product returns. In addition, planning, inventory, and marketing requirements differ for this business model. Therefore, the need for ecommerce platforms that have rental functionality or prioritize it is crucial.
