Macy’s, Inc. announced plans to create a digital marketplace that is curated to enhance its omnichannel approach. This new marketplace will allow carefully chosen third-party merchants to sell products on macys.com or bloomingdales.com.
“Today’s announcement marks the beginning of a new chapter in our digital evolution. The marketplace platform will accelerate our Polaris strategy, and open up new opportunities for profitable and sustainable growth. “Our digital business is expected to reach 10 billion dollars in revenue by 2023, and the new marketplace platform will help us achieve that goal,” stated Matt Baer, chief digital officer and customer officer of Macy’s, Inc. “The marketplace platform will allow us to expand our range at a low incremental price, while Macy’s customers have easy access to more product choices to suit their varied needs.”
To power the platform, Macy’s, Inc. has partnered with Mirakl, a enterprise marketplace technology company. Mirakl’s seller tools allow sellers to monitor, drive, and grow their business within Macy’s defined parameters. The marketplace platform will launch in the second quarter of 2022.
“To be a leader in retail today’s economy, you must balance two imperatives: keeping true to your brand DNA that customers love and anticipating their changing expectations. It’s an honor to partner with Macy’s. A retailer that understands the potential for marketplaces to positively transform businesses and has the vision and ambitions to realize the benefits,” Adrien Nussenbaum (co-founder and coCEO of Mirakl) said in a statement.