Macy’s Launches Digital Marketplace, Further Expanding E-Commerce Potential

On the heels of another strong quarter, Macy’s today announced the launch of a new curated digital marketplace, which will further build upon the department store’s success in e-commerce and digital. The marketplace platform will allow third party merchants to sell their products via macys.com and bloomingdales.com, which will help introduce an expanded assortment of products across multiple categories. Macy’s partnered with marketplace technology company Mirakl to create the platform, which is set to launch in the second half of 2022. The move mark’s Macy’s next step in expanding its already growing digital business. In a call with investors, Macy’s CEO and chairman Jeffrey Gennette said the company’s digital business is on track to generate $10 billion in sales by 2023, excluding revenue expected from the new marketplace platform. Gennette said the marketplace was the best way to address the demand Macy’s was seeing for different brands the retailer did not currently offer. “We have a very successful digital business now,” Gennette said in the call. “And the marketplace announcement that we made today was the next natural step in our evolution as a digitally led omnichannel retailer.” In the third quarter of 2021, digital penetration represented 33% of net sales at Macy’s, up 10-percentage

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