Digi-Key Broadens Access to Products with New Marketplace InitiativeAugust 18, 2020 by Luke James
Digi-Key says its Marketplace platform gives engineers access to millions of products from a variety of suppliers—all on one website.
Digi-Key Electronics, one of the largest electronic component distributors in North America, has announced the Digi-Key Marketplace initiative, which is said to provide “a single source for all aspects of technology innovation.”
The distributor has long been recognized as an industry leader due to the breadth of products available for on-time delivery. At the time of writing, Digi-Key holds a stock of over 11 million products from over 1,300 name-brand manufacturers.
Digi-Key’s new Marketplace initiative will provide electronic engineers across the United States access to a range of new product lines. It significantly builds upon Digi-Key’s current market coverage and provides customers access to components including bare printed circuit boards, IoT solutions, test and measurement, and more.
Digi-Key says this platform gives engineers access to millions of products from new suppliers on one website. Image used courtesy of Digi-Key
Digi-Key outlines how engineers might use the new platform in four steps:
- Search for the product on digikey.com
- Keep an eye out for the Marketplace label on the product
- Purchase the product through Digi-Key
- The supplier ships the product directly to you
The Marketplace offerings will begin in the United States initially, and Digi-Key plans to expand with regional global launches in the next few months to broaden market access.
What's New at the Marketplace?
With the launch of the Marketplace, Digi-Key is also bringing a number of new suppliers aboard, including Siglent, Congatec, and Rochester Electronics. According to Digi-Key, all Marketplace suppliers are fully vetted, quality partners of Digi-Key.
A few featured suppliers on Digi-Key Marketplace. Image used courtesy of Digi-Key
From its initial launch, the new Marketplace offers customers access to over 300,000 additional products.
The existing breadth of products and components supplied by Digi-Key, in addition to all the new suppliers and their offerings, dramatically simplifies the sourcing process for electronic designers. With over 11 million products in one marketplace, design engineers are able to get all the parts that they need on their bill of materials, no matter the supplier or component required. Among other things, this cuts costs and speeds up time to market.
Digi-Key Marketplace products are clearly labeled as “Marketplace Product” on the Digi-Key website.
Example of the "Marketplace Product" label. Image used courtesy of Digi-Key
A “Significant Win” for Digi-Key Customers
The timing of Digi-Key’s Marketplace initiative couldn’t be more appropriate. In a dynamic industry that is constantly innovating, a one-stop marketplace with more product categories has the potential to meet the demands of busy designers—delivering products in under one day depending on the supplier.
In an official press release, Digi-Key’s senior director of new market development, Missy Hall, said that the Marketplace initiative is a “significant win-win for both current and new customers.” She added, "The speed of delivery might be unique from core product, but we've taken great care to clarify those expectations clearly in the online user experience, and the ability to provide more solutions for the technology innovators that we serve streamlines their time-to-market through this singular shopping experience."
Digi-Key’s President and Chief Operating Officer, Dave Doherty, will be participating in All About Circuits' Industry Tech Days. He will discuss how changes to the global supply chain affect the way engineers design circuits and bring products to market.
The keynote, The Emergence of the Virtual Supply Chain in a COVID-19 World, takes place on Friday, September 4th at 6:00 AM MDT.