Forrester Consulting found that Mirakl marketplaces can deliver 162% ROI within 3 years and drive revenue up by $412 million over 3 years
In a newly commissioned study conducted by Forrester Consulting on behalf of Mirakl, Forrester interviewed five leading retailers who implemented Mirakl and expanded their eCommerce capabilities with an online marketplace.
For these customers, moving to an online marketplace represented a shift in business strategy that resulted in a significant return on investment. The Total Economic Impact study found that Mirakl Marketplaces deliver a noteworthy 162% return on investment within three years and drive revenue up by $412 million over three years.
This study provides readers with a framework to evaluate the potential financial impact of a Mirakl Marketplace on their organizations and found that marketplaces:
- Increased lifetime value of customers worth $5.5 million. With the broader selection of products (SKUs), companies were able to increase the average number of purchases per year per customer.
- Increased average order size valued at $4.5 million. Expanding to include marketplaces as part of their strategies increased companies’ average orders by 15% and increasing revenue over three years by $76 million.
- Increased sales in physical stores resulting in $2.6 million in net profit. Having an online marketplace increased traffic in physical stores and elevated sales two main ways- some organizations generated traffic via Marketplace product returns, where others generated traffic through implementing Buy-Online-Pickup-In-Store on marketplace products.