How the network will work

In the rapidly evolving landscape of modern economies, digital commerce has revolutionised the way businesses operate and consumers interact. Rise of digital platforms has not only made it easier and convenient for people to transact online, but has also enabled businesses to go digital, acquire new customers and enhance their offerings. Notwithstanding the benefits that these platforms have enabled, there are a few challenges that have started to emerge, such as:

• Constrained Digital Visibility: Limited digital discoverability of small and medium size businesses due to high investment required to come online and setting up digital infrastructure, curtailing growth opportunities for smaller sellers

• Elevated Expenses: Increased costs for sellers to acquire a consumer base that is dispersed across numerous platforms, alongside hefty commissions required to maintain an online presence across these diverse channels

• Asymmetrical Bargaining Power: Unequal bargaining power of large eCommerce players with providers paying hefty platform fees and risking vendor lock-in, limiting their ability to switch to alternate platforms for service delivery

• Navigating a diverse pool of platforms: Complexity in managing multiple platforms for discovering different products & services such as groceries, apparel, medicines, electronics, etc

Is there a feasible solution that can effectively tackle these challenges by ensuring effortless discoverability, accessibility, and affordability of ecommerce services, ultimately benefiting both the consumers and the sellers?

Open Networks provides a more equitable, collaborative and an alternate solution. Open networks powered by open protocols, would be open, transparent, and policy-driven, enabling diverse players to innovate and create value.

Platform Centric Model Vs Open Networks

The Open Gambia Network enabled by the Beckn Protocol could play a crucial role in digital commerce in the following ways:

1. Unified omnichannel commerce for consumers- An open network for digital commerce can seamlessly integrate various sales channels, enabling businesses to provide customers with a unified shopping experience across online platforms, mobile apps, and physical stores

2. Larger consumer base for providers : Enables access to a larger consumer base without the additional customer acquisition, marketing cost by enabling access to varied services through the network on their platform, thus providing them an opportunity to scale at lower cost

3. Enable Hyperlocal commerce - An open network for digital commerce can empower hyperlocal commerce by connecting local businesses with nearby consumers through a unified network of platforms, facilitating convenient access to products and services within immediate neighbourhoods

4. Streamline B2B Commerce and Logistics: Through open networks, retailers and MSMEs can unlock a vast distribution network through direct interface with logistics providers, leading to enhanced efficiency, cost-effectiveness and streamlined order fulfilment