If you’re a high street retailers, etailer or a publisher you’re probably finding that competition is greater than ever. The future will probably see more destination sites and consumers beginning their searches on marketplaces then will ever visit an individual retailers stores.
One way of keeping consumers coming to your website is to make sure that they can always buy the products they’re looking for. On your own, that’s pretty impossible which is why more and more sites are adding marketplaces, even the largest retailers in the country such as Tesco and GAME.
That’s where Mirakl come in, Mirakl is a provider of online marketplace cloud based software that allows a retailer to quickly set up and run their own marketplace, hosting transactions between buyers and third-party sellers. Mirakl power marketplaces with some of the world’s biggest and best-known retailers, including Bestbuy, Galeries Lafayette, Darty and GAME in the UK, with their relatively new GAME Marketplace.
It’s worth noting that more than 50% of Amazon’s business is now conducted via its marketplace (It’s easy to forget that Amazon are in fact simply a retailer with a marketplace bolted on). Retailers are looking to compete but know they can’t hold such volumes of stock themselves, so many are turning to their own hosted marketplace, a place where buyers and sellers interact, allowing the retailer to dramatically increase product range with the cost and hassle of inventory, and improve profits from ecommerce.
Mirakl’s marketplace Platform is built on modular service-oriented architecture that can be highly customised whilst still remaining compatible with all major existing e-commerce applications. Miralk is designed to provide retailers with all the advantages of a bespoke marketplace solution without the inconvenience of cost, deadlines and infrastructure. It’s also worth noting it probably already works with your potential third party sellers’ normal multichannel management software.
There are three key advantages Mirakl brings to retailers to keep consumers coming back to their websites:
- Choice – an online marketplace provides a customer with far more choice than a retailer ever could without it. A Mirakl marketplace allows the retailers to meet demand and the consumer considers that retailer a part of their journey and remains on the website for longer.
- Price – A marketplace allows a retailer to express pricing details, explain pricing more clearly and allowing consumers to compare like-for-like. With customers remaining on the website for longer, a retailer can assess price more easily, as there is full visibility of their movements.
- Service and availability – in electrical retailing especially, there can be issues with availability. An online marketplace of complementary products ensures far greater product availability, and therefore service to customers
Of course before you consider adding a marketplace to your website, the first thing you’ll need is traffic. If you’ve a low traffic website it’s probably better to add your products to a high traffic website who have already added a marketplace. However most high street retailers already have a large number of visitors to their sites and that’s when adding a marketplace is likely to be most effective.
If you’re a high street retailers, etailers or publisher and are interested in adding a marketplace to your website, get in touch with co-founder Adrien Nussenbaum on +33 (0)972 30 30 05 or [email protected]. Further information can be found at www.mirakl.com