ProductSearch: Optimising online local product inventory search and facilitating ecommerce purchasing for local businesses

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The pricing and monopoly power of online platforms such as Amazon and eBay means that online consumer spend is being directed to these platforms, which extract significant pricing power from merchants. For example, 30% of the transaction price are typically Amazon fees, and further Amazon sponsored word advertising frequently pushes costs above 100% of the purchase price, meaning that the 65% shelf-price of retail is eclipsed by the overall cost of selling on Amazon. Sites such as Shopify enable DIY online eCommerce stores to be created, but unlike a well positioned store on the high street, getting footfall requires significant advertising and marketing spend. Given the optimisation algorithms, typically the customers that pay the most, end up on top of the rankings, those with the biggest online footprint, favouring those with large budgets, such as large companies.Small retailers are increasingly being squeezed out of the market as more retail spend goes online. During lockdown, these were the companies that suffered most from the sudden lack of footfall. Yet, these shops provide a vital component of community life and also have many other competitive advantages, such as local produce, convenience, instant store pick up, delivery within the hour using Deliveroo or other delivery. However, to capitalise on these benefits, consumers have to be able to search for local products. Facebook Marketplace and Gumtree do this for private sellers of all types of wares, but this is not professional and if someone is looking for a new Dyson, just as searching for a new car on Autotrader. We have search for real estate on Zoopla, with filters for max price, or number of rooms. These are all parameters and these parameters are missing when looking for products online.Both product search and the ability for retailers to list their items, not on Amazon or eBay, but on their own websites or simply enable a purchase through a rudimentary online inventory page are not available. This means online consumer spend goes to the giants, whereas the Dyson is also stocked at Joe's Hardware, the consumer traffic will go to Amazon unless Joe's Hardware has a website and has spent significant amount on marketing ads, and generating content to enable it to go higher on Google. The customer acquisition cost for Joe's Hardware, and the fact that it is a small retailer, means it cannot compete with Amazon. That is, unless, ProductSearch enables the searching of its inventory for availability and with filters. The Dyson at Joe's Hardware may be more expensive marginally, but the ability to buy local means a consumer may pay a little extra for delivery within the hour. There is a reason the 'last mile delivery' is the most expensive and couriers to Amazon have been trying to work out how to reduce costs and maintain smaller local hubs. These hubs essentially are our retail stores on the high streets, and with ProductSearch, we'll re-direct online revenue from large platforms like Amazon to local shop websites and inventory listings.