As we bid farewell to 2018 and welcome in the new year, we want to take a moment to celebrate a groundbreaking year for platform achievements. With 50% of global eCommerce sales occurring through marketplaces and platforms, it’s never been more important to celebrate innovation. Mirakl customers were a driving force behind this new Platform Revolution in 2018, so we’re excited to share what a few have been up to.
eCommerce marketplaces like Amazon are quickly becoming the preferred shopping environments for digital consumers. Last year, Forrester Insights found that half of B2C online retail spend came from marketplaces, and those numbers continue to increase.
For the past two weeks, Amazon’s been busy announcing an aggressive expansion into bricks-and-mortar retail. Take for example its recent announcement of plans to expand Amazon Go, an automated convenience store chain with 3 locations in Seattle and 1 in Chicago. The tech giant plans to open 3,000 more locations nationwide by 2021. A week later, Amazon unveiled ‘Amazon 4-star’, a physical store that features well-reviewed items that local consumers love. They will open the first location in New York City.
[This is a guest blog from Nati Harpaz, CEO and Managing Director of Catch Group]
Kahuna partnered with Altimeter Research and digital futurist Brian Solis on a first-of-its-kind research report on the state of digital marketplaces. This original research is based on a survey on managers and executives at 100 leading marketplaces. The survey questions spanned business strategy and execution questions, with the result compiled by the data science team at Altimeter. Brian Solis delivers a sharp narrative that connects the rise of online marketplaces to the emerging platform economy and the well-established evolution of customer experiences, the latter of which he has been a leading voice on.
As the dust settles from Black Friday and Cyber Weekend, we take a moment to reflect on this year's winners and losers on what has become a pivotal event in the retail calendar.
Thanksgiving is no longer just a day synonymous with turkey, pumpkin pie and football. Increasingly, it’s all about the deals. This year Black Friday started early with online sales reaching $3.7 billion on Thanksgiving Day (up 28 percent from last year), meaning shoppers found time to take advantage of early Black Friday deals between the Macy’s Thanksgiving Day Parade and before the post-meal tryptophan kicked in.
Last week, Mirakl participated in the inaugural Platform Economy Summit Europe—a gathering of the most influential platform business innovators to catalyze this revolutionary business model across the continent.
While companies in the US and China have already adopted a platform mindset, their European counterparts are lacking are lagging. Today, seven of the world’s ten most valuable companies are platform businesses; yet not one of them is European. 60% of the ‘Unicorn’ billion-dollar start-ups are platform businesses, and only a small proportion were born in Europe.
In 2017, Mirakl processed over 200,000 orders on the Black Friday, creating more than $23M GMV for our customers. Fast forward to the same period in 2018 and Mirakl processed over 500,000 orders, creating $60M GMV. We are proud of our clients and their achievements!
B2B purchasing habits are changing the way sellers engage their customers, and marketplaces are at the digital forefront. In our with B2B Online, Oracle Commerce Cloud, and WBR Insights, we made some uplifting discoveries about how age groups among B2B buyers are redefining B2B sales. Digital channels, including marketplaces, have emerged as the clear, transformative favorites among the youngest buyers in the workforce—Millennials, born from 1977 to 1995.
With just a week to go until Black Friday signals the start of the holiday season, we’ve put together three key areas all retailers should consider to maximize their return during this peak period. Featuring guest comment from Dimension Data, Valantic and our own key recommendations these are your last minute tips for this joyful season.