Best Buy to Launch Third-Party Marketplace Powered by Mirakl

Best Buy is preparing to launch a digital marketplace platform that will allow third-party sellers to integrate their products into the retailer’s website and app.

The new Best Buy Marketplace will be launched this summer, the company said on Thursday (Jan. 16) advertisement.

“We are very excited to launch Best Buy Marketplace later this year and provide our customers with an expanded variety of products, new categories. and the ability to bring them to new technology faster,” Frank Bedochief marketplace and eCommerce officer at Best Buy, the announcement said.

“Not only will we be able to introduce new brands, but these sellers will also have the opportunity to face a larger audience of buyers with other well-known brands.”

Best Buy’s new platform will be powered by the enterprise marketplace technology company MIRACLESas per notification.

Mirakl empowers traditional retailers like Macy’s and Nordstrom to expand their offerings through integration third party vendors, Alex Hasegeneral manager of the Americas at Mirakl, told PYMNTS in an interview posted Thursday.

This model offers retailers a wider product assortment, including adjacent categories; gives retailers access to new channels and consumers; and provides value to consumers by enhancing the shopping experience while maintaining a curated selection consistent with the retailer’s brand promise, Hase said.

“Mirakl sits in the middle of this ecosystem, which enables traditional eCommerce to evolve into a platform business model,” said Hase.

The two Walmart and Amazon said their platforms have seen growth from third party vendors when reporting record-breaking sales around Black Friday and Cyber ​​Monday.

Walmart reported record sales for its third-party Marketplace during the early holiday shopping season, with the period from Nov. 25 to December 2, including Cyber ​​​​​​Monday, which marked its highest sales day and conversion rate.

Amazon reported that independent sellers made up more than 60% of its sales during the Black Friday week and Cyber ​​Monday event, which ran from November 21 to December 2.

Batas said in June that it adds to the selection Shopify its third-party digital vendors MARKETPLACE, Target Plus. Shopify merchants in the United States can use Shopify’s Marketplace Connect app to apply to sell online with Target Plus and to sell and manage orders in that and other marketplaces.