It’s full steam ahead! 2020 saw unprecedented growth in online sales, as consumers worldwide exchanged their car keys for a keyboard and had everything from groceries to workout equipment sent to their homes. Retailers who adopted an online marketplace greeted this revolution with open arms as it allowed them to offer customers more products, at competitive prices, without being on the hook for additional marginal costs.
By expanding their selection of competitively priced goods, retailers with marketplaces were able to better meet their customers’ needs and drastically accelerate their growth. In fact, in 2020 Mirakl-powered Marketplaces as a whole saw a 110% year-over-year growth, representing $3.1B in GMV.
At this year’s virtual Platform Pioneer Summit, brought to you by Mirakl and taking place on May 5, CEOs from some of the largest online retail marketplaces will discuss their enterprise marketplace strategies, covering their journey from the earliest days of planning to marketplace launch and beyond. Regardless of where you are in your marketplace journey, the Platform Pioneer Summit offers the tools and data you’ll need to confidently navigate this new reality.
Below is a preview of some of the leading retailers eager to share their transformative initiatives. Register today to catch them all in action on May 5!
Decathlon: Navigating international expansion with speed and agility
To remain an industry leader, it’s important to never rest on your laurels. In 2020 Decathlon – the largest sporting goods retailer in the world – launched a Mirakl-powered Marketplace that will dramatically scale its eCommerce offerings.
By both building new seller relationships, and strengthening existing ones, Decathlon was able to expand their online catalog and add to their already vast array of products from hundreds of brands. Decathlon’s marketplace, powered by Mirakl, also allows for a flexible, tailor-made environment that can easily adapt to the specific characteristics of local markets.
During his Master Class session, Charles-Emmanuel Nelis, Head of Digital at Decathlon UK, will share the critical lessons that Decathlon learned to achieve a fast launch, agile international expansion, and continual scale at a speed that only the marketplace model provides.
La Redoute and Hudson’s Bay Co.: Embracing the marketplace revolution
The marketplace platform isn't just for new digital-native brands. La Redoute (founded in 1837) and Hudson’s Bay Co. (founded back in 1670) are two long-standing leaders diving headfirst into the marketplace revolution.
Using the marketplace model, these retail giants have enacted a selective recruitment strategy to achieve critical scalability without compromising their brands. Both are now partnering with hundreds of new, high-quality sellers, allowing them to broaden their online catalogs and position themselves as premium, home-grown alternatives to eCommerce heavy hitters (like Amazon).
During this Executive Insights session, Philippe Berlan, Deputy Managing Director of La Redoute, and Iain Nairn, President, and CEO of Hudson’s Bay Co. will be joined by moderator Ivano Ortis, Managing Director of BCG Platinion, as they share the moments that pushed them to be early adopters of the marketplace model, the ensuing impact it’s had on their businesses, and how it’s helped them affirm their positions as leaders in this new era.
The Kroger Co.: The recipe for a successful seller recruitment process
2020 sent the already growing business of online grocery shopping into hyperdrive. Last June, online grocery sales in the United States hit an eye-popping $7.2 billion, with more than 45 million households electing this route. While some stores were caught off-guard, Kroger was able to meet this new landscape head-on, thanks in part to its Mirakl-powered Marketplace.
Kroger, the largest grocery retailer in the U.S., is using the marketplace model to offer more customers the specialty items they’re looking for. No longer restricted by space limitations, Kroger’s online marketplace gives customers, across its family of stores, a truly endless aisle.
During this Master Class session, Bill Bennett, VP eCommerce at The Kroger Co., and Amber Roberts, Head of Marketplace at The Kroger Co., will share their seller recruitment strategies focused on accelerating growth, without sacrificing product quality. These tactics have allowed them to scale quickly while still ensuring they only offer only the highest quality products – a cornerstone of staying true to their brand DNA.
Fnac Darty and Verizon Media: Using marketplaces for the greater good
Businesses can be more than just their bottom lines. Today, true leaders are using their size and reach to help kickstart the transformational changes they want to see in the world. For Fnac Darty and Verizon Media, the marketplace platform is an opportunity to not only impact their respective businesses but also the greater good.
An environmental advocate, Fnac Darty has made sustainability a pillar of its corporate strategy with initiatives like its “repairability index” for certain electronic devices (think computers, smartphones, TVs, etc.). This index allows customers to quickly identify the ease at which they can have the product repaired. This not only helps fight against planned obsolesce and waste but also enables the customer to make an informed, environmentally conscious decision.
Meanwhile, Verizon Media recently announced plans to launch Yahoo Shops – a new marketplace destination featuring a curated, native shopping experience tailored to the user. At least 15% of merchants on Yahoo Shops will be Black-owned businesses. The pledge is part of Verizon Media’s commitment to diversity and an overall mission to increase the inclusion of underrepresented groups in retail.
In this Insights panel, moderated by Hubert Joly, former CEO of Best Buy and author of The Heart of Business: Leadership Principles for the Next Era of Capitalism, you’ll hear from Enrique Martinez, Chief Executive Officer, Fnac Darty, and Andrea Wasserman, Head of Global Commerce, Verizon Media as they discuss how they’re leveraging their marketplaces to meet the rising expectations of leading a business with more purpose and humanity.
The discussion doesn’t stop here. To learn more about the advantages, opportunities, and overall process of launching your online marketplace, be sure to join us on May 5. Registration for this year’s virtual Platform Pioneer Summit is free and easy and can be the first step in rising to the challenge of accelerating your digital growth. It’s now or never.
Written by Austin Fontanella
Content Marketing Specialist at Mirakl