Macy’s has announced its plans for a digital marketplace.
Designed to add to the company’s leading spot as a digitally led omnichannel retailer, the marketplace will expand the assortment in categories and brands already offered, and introduce a range of new ones in addition.
The platform will also enable third party merchants to sell their products online on the Macy’s and Bloomingdale platforms, after being carefully selected to do so.
“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 dollars in sales by 2023, and we expect the new marketplace platform to produce incremental revenue on top of that target,” said Mat Baer, chief and digital customer officer at Macy’s.
Macy’s is partnering with marketplace technology company Mirakl, in order to power the platform. Mirakl will bring platform capabilities that will integrate into Macy’s and Bloomingdale’s architecture, allowing for further evolution later on. Its seller tools will also give sellers the option to monitor, drive and grow their businesses.
The marketplace is set to launch later in 2022.