Macy's to launch third-party marketplace after Amazon fails

Macy's, a well-known American department store chain, announced that it will launch its own third-party online market platform.

Macy's CEO Jeff   To further expand its e-commerce business , Macy's is adding another sales format to its ecosystem, a "curated digital marketplace," Gennette said . This will expand Macy's existing product assortment and brand assortment and introduce a range of new categories. The department store will arrange for third-party retailers and brands to sell their products on macys.com and bloomingdales.com, which is expected to launch in the second half of 2022.

Macy 's is working with enterprise market technology company Mirakl to launch the platform , and intends to integrate Mirakl's platform capabilities into the architecture of Macy's and Bloomingdale's. Mirakl's tools will enable sellers to monitor, promote and grow their business within Macy 's platform .

In March 2021 , Canadian department store Hudson's Bay partnered with Mirakl to launch its own online third-party sales platform Marketplace.

" Our goal for our digital business is to generate $10 billion in sales by 2023, and we expect the new Marketplace platform to generate incremental revenue on top of that goal," said Matt Bell, Macy's chief digital and customer officer. "The Marketplace platform will enable us to expand our assortment at a low incremental cost while giving Macy's customers easy access to a wider selection of products to meet their diverse needs."

In addition to preparing to offer a third-party online marketplace, Macy’s has recently launched a host of other customer-facing technology features, including a redesigned mobile app, livestream shopping, contactless payments and an expanded 3D room planner.

At the same time, Macy's announced its third-quarter 2021 results. The financial report showed that Macy's Q3 sales were US$5.44 billion, a year-on-year increase of 36.3%, exceeding market expectations. Net profit was US$239 million, compared with a net loss of US$91 million in the same period last year . Among them, online sales increased by 19% compared with the third quarter of 2020.

The launch of more and more third-party platforms may create competition for sellers on platforms such as Amazon and Walmart, but it also gives sellers more choices. Platforms like Amazon may also be less "willful" to sellers on their own platforms .

Amazon

Macy's

Third Party