Macy's has announced that it will launch a curated digital marketplace to build on the company’s existing authority as a digitally-led omnichannel retailer.
The new marketplace will expand the company’s assortment in existing categories and brands and introduce a range of new categories by enabling carefully selected third-party merchants to sell their products on macys.com and bloomingdales.com.
Macy's is partnering with Mirakl, an enterprise marketplace technology company, to power the platform that will launch in the second half of 2022.
Adrien Nussenbaum, co-founder and co-CEO, Mirakl, said: "To be a retail leader in today's economy means balancing two imperatives: staying true to the trusted brand DNA that your customers value, while also anticipating and rising to meet their evolving expectations. It’s a pleasure to partner with Macy's, a retailer that both understands the potential of marketplaces to positively transform a business and has the vision, ambitions and strategy to fully reap the benefits."
Matt Baer, chief digital and customer officer at Macy’s, said: "Today’s announcement is an exciting next chapter in our digital evolution. The marketplace platform will further accelerate our Polaris strategy and unlock new opportunities for sustainable and profitable growth. Our digital business is targeted to generate $10 billion in sales by 2023, and we expect the new marketplace platform to produce incremental revenue on top of that target. The marketplace platform will enable us to expand our assortment at a low incremental cost while giving Macy’s customers easy access to even more product selection to meet their diverse needs.”
Separating E-commerce Business?
According to CNBC, Macy's has not reached any decision on whether it will separate its e-commerce unit into a separate company.
Macy's reportedly brought on a consulting firm from AlixPartners to examine the structure of its business.