Macy's adds 2,000+ brands with a Mirakl-powered marketplace
Why Macy's launched a marketplace to boost revenue and meet growing customer demands
Macy's Inc, a leading US department store brand, is a go-to shopping destination both in-store and online with $23.1 billion in annual net sales. In an effort to enhance their online business, Macy’s launched a Mirakl-powered marketplace in September 2022. The goal was to expand their assortment by working with trusted third-party sellers, ensuring scale without compromising brand integrity.
Download now to hear how Macy’s transformed their online strategy resulting in a 145% quarter on quarter increase in marketplace sales in Q1-Q4 FY 2023.
Key insights from the case study include:
- Why Macy's choose Mirakl to power their online marketplace
- The main benefits to launching a marketplace and the results Macy's has experienced
- Marketplace best practices including debunking the myth of cannibalization
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Online marketplaces are flourishing
Year after year, marketplaces have grown at many times the rate of overall eCommerce, outperforming conventional retailers by as much as 6X annually. Between 2022 and 2023, the average marketplace sales grew at a rate of 47%. This impressive growth is fueled by widespread consumer demand: online marketplaces now make up more than two-thirds of eCommerce sales globally. But shoppers don’t just want to spend their money through marketplace giants – they want the convenience, value and selection of marketplaces from the retailers they love.
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